FIBK Q4 2022 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

Q4 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$346M	$310M	$163M	11.6%	111.8%
Op. Income	$110M	$108M	$67M	1.8%	65.4%
Gross Margin	82.6%	90.9%	103.4%	-8.3pp	-20.8pp
Net Margin	24.8%	27.7%	31.3%	-2.9pp	-6.5pp
EPS (Diluted)	$0.82	$0.80	$0.83	2.5%	-1.2%
Free Cash Flow	$113M	$158M	$72M	-28.7%	56.0%

Revenue Flow

Item	Amount
REVENUE	$346M
Cost of Revenue	$60M
GROSS PROFIT	$285M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$97M
SG&A Expenses	$97M
Other Expenses	$79M
Operating Expenses	$175M
Cost & Expenses	$236M
OPERATING INCOME	$110M
Interest Income	$304M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$24M
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	$110M
EBITDA	$124M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$346M
Cost of Revenue	$60M
GROSS PROFIT	$285M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$97M
SG&A Expenses	$97M
Other Expenses	$79M
Operating Expenses	$175M
Cost & Expenses	$236M
OPERATING INCOME	$110M
Interest Income	$304M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$24M
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	$110M
EBITDA	$124M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$14M
Stock-Based Compensation	$900.0K
Deferred Income Tax	$100.0K
Other Non-Cash Items	$27M
Change in Working Capital	-$32M
OPERATING CASH FLOW	$96M
Capital Expenditure	$17M
Acquisitions (Net)	$0
Purchases of Investments	-$331M
Sales/Maturities of Investments	$239M
Other Investing Activities	-$544M
NET CASH FROM INVESTING	-$636M
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$100.0K
Common Dividends Paid	-$49M
Other Financing Activities	-$834M
NET CASH FROM FINANCING	$819M
FREE CASH FLOW	$113M
Net Change in Cash	$279M

Balance Sheet

Item	Amount
Cash & Equivalents	$870M
Short-Term Investments	$6.9B
Net Receivables	$118M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.9B
PP&E (Net)	$445M
Goodwill	$1.1B
Intangible Assets	$128M
Long-Term Investments	$21.4B
Tax Assets	$211M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$24.4B
TOTAL ASSETS	$32.3B
Account Payables	$460M
Short-Term Debt	$3.4B
Deferred Revenue	$0
Other Current Liabilities	$25.1B
TOTAL CURRENT LIABILITIES	$28.9B
Long-Term Debt	$283M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$300M
TOTAL LIABILITIES	$29.2B
Common Stock	$2.5B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$477M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$0
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$32.3B
Total Debt	$3.7B
Net Debt	$2.8B