FIBK Q3 2022 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

Q3 2022 Earnings

Reported November 7, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$310M	$296M	$171M	4.5%	81.3%
Op. Income	$108M	$80M	$61M	34.6%	78.1%
Gross Margin	90.9%	98.1%	97.5%	-7.2pp	-6.7pp
Net Margin	27.7%	21.6%	27.6%	6.0pp	0.1pp
EPS (Diluted)	$0.80	$0.59	$0.76	35.6%	5.3%
Free Cash Flow	$158M	$198M	$94M	-20.5%	67.6%

Revenue Flow

Item	Amount
REVENUE	$310M
Cost of Revenue	$28M
GROSS PROFIT	$281M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$78M
Operating Expenses	$173M
Cost & Expenses	$202M
OPERATING INCOME	$108M
Interest Income	$287M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$108M
Income Tax Expense	$22M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$14M
EBIT	$108M
EBITDA	$122M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$310M
Cost of Revenue	$28M
GROSS PROFIT	$281M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$78M
Operating Expenses	$173M
Cost & Expenses	$202M
OPERATING INCOME	$108M
Interest Income	$287M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$108M
Income Tax Expense	$22M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$14M
EBIT	$108M
EBITDA	$122M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$14M
Stock-Based Compensation	$3M
Deferred Income Tax	$4M
Other Non-Cash Items	$27M
Change in Working Capital	$36M
OPERATING CASH FLOW	$169M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$468M
Sales/Maturities of Investments	$807M
Other Investing Activities	-$477M
NET CASH FROM INVESTING	-$150M
Net Debt Issuance	$625M
Common Stock Repurchased	-$133M
Common Dividends Paid	-$44M
Other Financing Activities	-$936M
NET CASH FROM FINANCING	-$487M
FREE CASH FLOW	$158M
Net Change in Cash	-$467M

Balance Sheet

Item	Amount
Cash & Equivalents	$592M
Short-Term Investments	$6.8B
Net Receivables	$106M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.5B
PP&E (Net)	$445M
Goodwill	$1.1B
Intangible Assets	$133M
Long-Term Investments	$21.0B
Tax Assets	$224M
Other Non-Current Assets	$991M
TOTAL NON-CURRENT ASSETS	$23.9B
TOTAL ASSETS	$31.3B
Account Payables	$460M
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$25.9B
TOTAL CURRENT LIABILITIES	$27.4B
Long-Term Debt	$909M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$919M
TOTAL LIABILITIES	$28.3B
Common Stock	$2.5B
Additional Paid-In Capital	$0
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$508M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$31.3B
Total Debt	$2.0B
Net Debt	$1.4B