CCNE FY 2019 Earnings Report — CNB Financial Corporation Revenue & Financial Results | Market Cap Arena

CNB Financial CorporationCCNE

FY 2019 Earnings

Reported March 5, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$179M	—	$150M	—	19.4%
Op. Income	$49M	—	$40M	—	20.9%
Gross Margin	74.5%	—	77.9%	—	-3.4pp
Net Margin	22.4%	—	22.5%	—	-0.1pp
EPS (Diluted)	$2.63	—	$2.22	—	18.5%
Free Cash Flow	$43M	—	$42M	—	2.6%

Revenue Flow

Item	Amount
REVENUE	$179M
Cost of Revenue	$46M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$50M
Other Expenses	$35M
Operating Expenses	$85M
Cost & Expenses	$130M
OPERATING INCOME	$49M
Interest Income	$156M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$49M
Income Tax Expense	$9M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$6M
EBIT	$49M
EBITDA	$55M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$179M
Cost of Revenue	$46M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$50M
Other Expenses	$35M
Operating Expenses	$85M
Cost & Expenses	$130M
OPERATING INCOME	$49M
Interest Income	$156M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$49M
Income Tax Expense	$9M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$6M
EBIT	$49M
EBITDA	$55M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$40M
Depreciation & Amortization	$6M
Stock-Based Compensation	$1M
Deferred Income Tax	-$204.0K
Other Non-Cash Items	$39.0K
Change in Working Capital	$5M
OPERATING CASH FLOW	$52M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$123M
Sales/Maturities of Investments	$110M
Other Investing Activities	-$347M
NET CASH FROM INVESTING	-$369M
Net Debt Issuance	-$17M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$10M
Other Financing Activities	$492M
NET CASH FROM FINANCING	$464M
FREE CASH FLOW	$43M
Net Change in Cash	$147M

Balance Sheet

Item	Amount
Cash & Equivalents	$193M
Short-Term Investments	$542M
Net Receivables	$25M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$760M
PP&E (Net)	$73M
Goodwill	$39M
Intangible Assets	$2M
Long-Term Investments	$2.8B
Tax Assets	$0
Other Non-Current Assets	$104M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$3.8B
Account Payables	$38M
Short-Term Debt	$228M
Deferred Revenue	$0
Other Current Liabilities	$3.1B
TOTAL CURRENT LIABILITIES	$3.4B
Long-Term Debt	$71M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$90M
TOTAL LIABILITIES	$3.5B
Common Stock	$0
Additional Paid-In Capital	$99M
Retained Earnings	$202M
Treasury Stock	-$3M
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$305M
Minority Interest	$0
TOTAL EQUITY	$305M
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$318M
Net Debt	$125M