FFBC FY 2019 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2019 Earnings

Reported February 21, 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	$739M	—	$644M	—	14.8%
Op. Income	$243M	—	$214M	—	13.4%
Gross Margin	79.2%	—	83.5%	—	-4.3pp
Net Margin	26.8%	—	26.8%	—	-0.0pp
EPS (Diluted)	$2.00	—	$1.93	—	3.6%
Free Cash Flow	$165M	—	$242M	—	-31.7%

Revenue Flow

Item	Amount
REVENUE	$739M
Cost of Revenue	$154M
GROSS PROFIT	$585M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$236M
SG&A Expenses	$243M
Other Expenses	$99M
Operating Expenses	$342M
Cost & Expenses	$496M
OPERATING INCOME	$243M
Interest Income	$608M
Interest Expense	$123M
Other Income/Expenses	$0
INCOME BEFORE TAX	$243M
Income Tax Expense	$45M
Net Income from Continuing Ops	$198M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$198M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$198M
D&A	$28M
EBIT	$243M
EBITDA	$271M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$739M
Cost of Revenue	$154M
GROSS PROFIT	$585M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$236M
SG&A Expenses	$243M
Other Expenses	$99M
Operating Expenses	$342M
Cost & Expenses	$496M
OPERATING INCOME	$243M
Interest Income	$608M
Interest Expense	$123M
Other Income/Expenses	$0
INCOME BEFORE TAX	$243M
Income Tax Expense	$45M
Net Income from Continuing Ops	$198M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$198M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$198M
D&A	$28M
EBIT	$243M
EBITDA	$271M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$198M
Depreciation & Amortization	$28M
Stock-Based Compensation	$8M
Deferred Income Tax	$13M
Other Non-Cash Items	$34M
Change in Working Capital	-$94M
OPERATING CASH FLOW	$186M
Capital Expenditure	-$21M
Acquisitions (Net)	-$52M
Purchases of Investments	-$847M
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$427M
NET CASH FROM INVESTING	-$252M
Net Debt Issuance	$116M
Common Stock Repurchased	-$66M
Common Dividends Paid	-$89M
Other Financing Activities	$70M
NET CASH FROM FINANCING	$31M
FREE CASH FLOW	$165M
Net Change in Cash	-$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$258M
Short-Term Investments	$2.9B
Net Receivables	$88M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$215M
Goodwill	$938M
Intangible Assets	$76M
Long-Term Investments	$9.3B
Tax Assets	$0
Other Non-Current Assets	$748M
TOTAL NON-CURRENT ASSETS	$11.3B
TOTAL ASSETS	$14.5B
Account Payables	$323M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$10.2B
TOTAL CURRENT LIABILITIES	$11.8B
Long-Term Debt	$413M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$414M
TOTAL LIABILITIES	$12.3B
Common Stock	$1.6B
Additional Paid-In Capital	$0
Retained Earnings	$711M
Treasury Stock	-$118M
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$14.5B
Total Debt	$1.7B
Net Debt	$1.5B