FFBC FY 2020 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2020 Earnings

Reported February 19, 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	$714M	—	$739M	—	-3.4%
Op. Income	$184M	—	$243M	—	-24.1%
Gross Margin	80.5%	—	79.2%	—	1.3pp
Net Margin	21.8%	—	26.8%	—	-5.0pp
EPS (Diluted)	$1.59	—	$2.00	—	-20.5%
Free Cash Flow	$92M	—	$165M	—	-44.4%

Revenue Flow

Item	Amount
REVENUE	$714M
Cost of Revenue	$139M
GROSS PROFIT	$575M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$242M
SG&A Expenses	$248M
Other Expenses	$142M
Operating Expenses	$391M
Cost & Expenses	$530M
OPERATING INCOME	$184M
Interest Income	$525M
Interest Expense	$68M
Other Income/Expenses	$0
INCOME BEFORE TAX	$184M
Income Tax Expense	$29M
Net Income from Continuing Ops	$156M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$156M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$156M
D&A	$41M
EBIT	$184M
EBITDA	$226M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$714M
Cost of Revenue	$139M
GROSS PROFIT	$575M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$242M
SG&A Expenses	$248M
Other Expenses	$142M
Operating Expenses	$391M
Cost & Expenses	$530M
OPERATING INCOME	$184M
Interest Income	$525M
Interest Expense	$68M
Other Income/Expenses	$0
INCOME BEFORE TAX	$184M
Income Tax Expense	$29M
Net Income from Continuing Ops	$156M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$156M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$156M
D&A	$41M
EBIT	$184M
EBITDA	$226M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$156M
Depreciation & Amortization	$41M
Stock-Based Compensation	$8M
Deferred Income Tax	-$8M
Other Non-Cash Items	$42M
Change in Working Capital	-$130M
OPERATING CASH FLOW	$108M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$674M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$790M
Common Stock Repurchased	-$17M
Common Dividends Paid	-$90M
Other Financing Activities	$2.0B
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$92M
Net Change in Cash	$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$251M
Short-Term Investments	$3.4B
Net Receivables	$73M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$207M
Goodwill	$938M
Intangible Assets	$65M
Long-Term Investments	$10.0B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$12.2B
TOTAL ASSETS	$16.0B
Account Payables	$516M
Short-Term Debt	$167M
Deferred Revenue	$0
Other Current Liabilities	$12.2B
TOTAL CURRENT LIABILITIES	$12.9B
Long-Term Debt	$339M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$435M
TOTAL NON-CURRENT LIABILITIES	$776M
TOTAL LIABILITIES	$13.7B
Common Stock	$1.6B
Additional Paid-In Capital	$0
Retained Earnings	$720M
Treasury Stock	-$126M
Accum. Other Comp. Income	$49M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$16.0B
Total Debt	$508M
Net Debt	$256M