FHB FY 2018 Earnings Report — First Hawaiian, Inc. Revenue & Financial Results | Market Cap Arena

First Hawaiian, Inc.FHB

FY 2018 Earnings

Reported February 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$800M	—	$753M	—	6.3%
Op. Income	$358M	—	$368M	—	-2.8%
Gross Margin	87.3%	—	92.0%	—	-4.7pp
Net Margin	33.0%	—	24.4%	—	8.6pp
EPS (Diluted)	$1.93	—	$1.32	—	46.2%
Free Cash Flow	$309M	—	$260M	—	19.0%

Revenue Flow

Item	Amount
REVENUE	$800M
Cost of Revenue	$102M
GROSS PROFIT	$698M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$167M
SG&A Expenses	$172M
Other Expenses	$168M
Operating Expenses	$340M
Cost & Expenses	$442M
OPERATING INCOME	$358M
Interest Income	$646M
Interest Expense	$80M
Other Income/Expenses	$0
INCOME BEFORE TAX	$358M
Income Tax Expense	$94M
Net Income from Continuing Ops	$264M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$264M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$264M
D&A	$55M
EBIT	$358M
EBITDA	$413M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$800M
Cost of Revenue	$102M
GROSS PROFIT	$698M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$167M
SG&A Expenses	$172M
Other Expenses	$168M
Operating Expenses	$340M
Cost & Expenses	$442M
OPERATING INCOME	$358M
Interest Income	$646M
Interest Expense	$80M
Other Income/Expenses	$0
INCOME BEFORE TAX	$358M
Income Tax Expense	$94M
Net Income from Continuing Ops	$264M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$264M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$264M
D&A	$55M
EBIT	$358M
EBITDA	$413M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$264M
Depreciation & Amortization	$55M
Stock-Based Compensation	$6M
Deferred Income Tax	-$4M
Other Non-Cash Items	$45M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$351M
Capital Expenditure	-$42M
Acquisitions (Net)	$0
Purchases of Investments	-$195M
Sales/Maturities of Investments	$823M
Other Investing Activities	-$850M
NET CASH FROM INVESTING	-$258M
Net Debt Issuance	$600M
Common Stock Repurchased	-$132M
Common Dividends Paid	-$131M
Other Financing Activities	-$462M
NET CASH FROM FINANCING	-$125M
FREE CASH FLOW	$309M
Net Change in Cash	-$31M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$4.5B
Net Receivables	$49M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.6B
PP&E (Net)	$305M
Goodwill	$995M
Intangible Assets	$16M
Long-Term Investments	$12.9B
Tax Assets	$0
Other Non-Current Assets	$893M
TOTAL NON-CURRENT ASSETS	$15.1B
TOTAL ASSETS	$20.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$17.2B
TOTAL CURRENT LIABILITIES	$17.3B
Long-Term Debt	$600M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$293M
TOTAL NON-CURRENT LIABILITIES	$893M
TOTAL LIABILITIES	$18.2B
Common Stock	$1M
Additional Paid-In Capital	$2.5B
Retained Earnings	$292M
Treasury Stock	-$132M
Accum. Other Comp. Income	-$132M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$20.7B
Total Debt	$600M
Net Debt	-$404M