CCNE FY 2020 Earnings Report — CNB Financial Corporation Revenue & Financial Results | Market Cap Arena

CNB Financial CorporationCCNE

FY 2020 Earnings

Reported March 4, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$192M	—	$179M	—	7.4%
Op. Income	$40M	—	$49M	—	-17.6%
Gross Margin	75.1%	—	74.5%	—	0.6pp
Net Margin	17.0%	—	22.4%	—	-5.4pp
EPS (Diluted)	$1.97	—	$2.63	—	-25.1%
Free Cash Flow	$23M	—	$43M	—	-46.1%

Revenue Flow

Item	Amount
REVENUE	$192M
Cost of Revenue	$48M
GROSS PROFIT	$144M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$51M
SG&A Expenses	$53M
Other Expenses	$51M
Operating Expenses	$104M
Cost & Expenses	$152M
OPERATING INCOME	$40M
Interest Income	$161M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$7M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$6M
EBIT	$40M
EBITDA	$46M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$192M
Cost of Revenue	$48M
GROSS PROFIT	$144M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$51M
SG&A Expenses	$53M
Other Expenses	$51M
Operating Expenses	$104M
Cost & Expenses	$152M
OPERATING INCOME	$40M
Interest Income	$161M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$7M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$6M
EBIT	$40M
EBITDA	$46M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$6M
Stock-Based Compensation	$1M
Deferred Income Tax	$1M
Other Non-Cash Items	-$3M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$29M
Capital Expenditure	-$6M
Acquisitions (Net)	$73M
Purchases of Investments	-$227M
Sales/Maturities of Investments	$228M
Other Investing Activities	-$237M
NET CASH FROM INVESTING	-$169M
Net Debt Issuance	-$228M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$11M
Other Financing Activities	$660M
NET CASH FROM FINANCING	$480M
FREE CASH FLOW	$23M
Net Change in Cash	$340M

Balance Sheet

Item	Amount
Cash & Equivalents	$533M
Short-Term Investments	$585M
Net Receivables	$37M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$78M
Goodwill	$44M
Intangible Assets	$2M
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$104M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.7B
Account Payables	$41M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.2B
TOTAL CURRENT LIABILITIES	$4.2B
Long-Term Debt	$71M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$90M
TOTAL LIABILITIES	$4.3B
Common Stock	$0
Additional Paid-In Capital	$128M
Retained Earnings	$219M
Treasury Stock	-$3M
Accum. Other Comp. Income	$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$416M
Minority Interest	$0
TOTAL EQUITY	$416M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$90M
Net Debt	-$443M