FFBC FY 2017 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2017 Earnings

Reported February 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$409M	—	$376M	—	9.0%
Op. Income	$116M	—	$131M	—	-11.1%
Gross Margin	87.0%	—	88.4%	—	-1.4pp
Net Margin	23.7%	—	23.6%	—	0.1pp
EPS (Diluted)	$1.56	—	$1.43	—	9.1%
Free Cash Flow	$117M	—	$133M	—	-12.0%

Revenue Flow

Item	Amount
REVENUE	$409M
Cost of Revenue	$53M
GROSS PROFIT	$356M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$157M
SG&A Expenses	$160M
Other Expenses	$80M
Operating Expenses	$240M
Cost & Expenses	$293M
OPERATING INCOME	$116M
Interest Income	$333M
Interest Expense	$50M
Other Income/Expenses	$0
INCOME BEFORE TAX	$116M
Income Tax Expense	$19M
Net Income from Continuing Ops	$97M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$97M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$97M
D&A	$13M
EBIT	$116M
EBITDA	$129M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$409M
Cost of Revenue	$53M
GROSS PROFIT	$356M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$157M
SG&A Expenses	$160M
Other Expenses	$80M
Operating Expenses	$240M
Cost & Expenses	$293M
OPERATING INCOME	$116M
Interest Income	$333M
Interest Expense	$50M
Other Income/Expenses	$0
INCOME BEFORE TAX	$116M
Income Tax Expense	$19M
Net Income from Continuing Ops	$97M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$97M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$97M
D&A	$13M
EBIT	$116M
EBITDA	$129M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$97M
Depreciation & Amortization	$13M
Stock-Based Compensation	$5M
Deferred Income Tax	-$4M
Other Non-Cash Items	$12M
Change in Working Capital	$696.0K
OPERATING CASH FLOW	$124M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$749M
Sales/Maturities of Investments	$537M
Other Investing Activities	-$211M
NET CASH FROM INVESTING	-$429M
Net Debt Issuance	$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$41M
Other Financing Activities	$370M
NET CASH FROM FINANCING	$335M
FREE CASH FLOW	$117M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$185M
Short-Term Investments	$1.3B
Net Receivables	$89M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$125M
Goodwill	$204M
Intangible Assets	$4M
Long-Term Investments	$6.6B
Tax Assets	$0
Other Non-Current Assets	$352M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$8.9B
Account Payables	$137M
Short-Term Debt	$815M
Deferred Revenue	$0
Other Current Liabilities	$6.9B
TOTAL CURRENT LIABILITIES	$7.8B
Long-Term Debt	$120M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$120M
TOTAL LIABILITIES	$8.0B
Common Stock	$573M
Additional Paid-In Capital	$0
Retained Earnings	$492M
Treasury Stock	-$114M
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$931M
Minority Interest	$0
TOTAL EQUITY	$931M
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$934M
Net Debt	$750M