FFBC FY 2022 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$775M	—	$655M	—	18.3%
Op. Income	$242M	—	$241M	—	0.3%
Gross Margin	90.0%	—	98.0%	—	-8.0pp
Net Margin	28.1%	—	31.3%	—	-3.2pp
EPS (Diluted)	$2.30	—	$2.14	—	7.5%
Free Cash Flow	$187M	—	$373M	—	-49.8%

Revenue Flow

Item	Amount
REVENUE	$775M
Cost of Revenue	$78M
GROSS PROFIT	$697M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$297M
SG&A Expenses	$306M
Other Expenses	$150M
Operating Expenses	$455M
Cost & Expenses	$533M
OPERATING INCOME	$242M
Interest Income	$585M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$242M
Income Tax Expense	$24M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$39M
EBIT	$242M
EBITDA	$281M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$775M
Cost of Revenue	$78M
GROSS PROFIT	$697M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$297M
SG&A Expenses	$306M
Other Expenses	$150M
Operating Expenses	$455M
Cost & Expenses	$533M
OPERATING INCOME	$242M
Interest Income	$585M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$242M
Income Tax Expense	$24M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$39M
EBIT	$242M
EBITDA	$281M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$218M
Depreciation & Amortization	$39M
Stock-Based Compensation	$13M
Deferred Income Tax	-$4M
Other Non-Cash Items	$9M
Change in Working Capital	-$75M
OPERATING CASH FLOW	$201M
Capital Expenditure	-$14M
Acquisitions (Net)	$0
Purchases of Investments	-$682M
Sales/Maturities of Investments	$996M
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$883M
Net Debt Issuance	$927M
Common Stock Repurchased	$0
Common Dividends Paid	-$87M
Other Financing Activities	-$171M
NET CASH FROM FINANCING	$670M
FREE CASH FLOW	$187M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$596M
Short-Term Investments	$3.4B
Net Receivables	$233M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$281M
Goodwill	$1.0B
Intangible Assets	$94M
Long-Term Investments	$10.2B
Tax Assets	$0
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$12.8B
TOTAL ASSETS	$17.0B
Account Payables	$627M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$12.7B
TOTAL CURRENT LIABILITIES	$14.6B
Long-Term Debt	$345M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$347M
TOTAL LIABILITIES	$15.0B
Common Stock	$1.6B
Additional Paid-In Capital	$0
Retained Earnings	$968M
Treasury Stock	-$203M
Accum. Other Comp. Income	-$359M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$17.0B
Total Debt	$1.6B
Net Debt	$1.0B