FR Q3 2019 Earnings Report — First Industrial Realty Trust, Inc. Revenue & Financial Results | Market Cap Arena

First Industrial Realty Trust, Inc.FR

Q3 2019 Earnings

Reported October 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$107M	$104M	$100M	2.6%	6.5%
Op. Income	$71M	$28M	$31M	153.0%	126.5%
Gross Margin	73.3%	73.6%	71.6%	-0.3pp	1.8pp
Net Margin	73.4%	38.2%	30.8%	35.1pp	42.6pp
EPS (Diluted)	$0.62	$0.31	$0.25	100.0%	148.0%
Free Cash Flow	$70M	$78M	$57M	-10.6%	22.4%

Revenue Flow

Item	Amount
REVENUE	$107M
Cost of Revenue	$28M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7M
SG&A Expenses	$7M
Other Expenses	$0
Operating Expenses	$7M
Cost & Expenses	$35M
OPERATING INCOME	$71M
Interest Income	$0
Interest Expense	$12M
Other Income/Expenses	$9M
INCOME BEFORE TAX	$80M
Income Tax Expense	$244.0K
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$31M
EBIT	$41M
EBITDA	$73M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$107M
Cost of Revenue	$28M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7M
SG&A Expenses	$7M
Other Expenses	$0
Operating Expenses	$7M
Cost & Expenses	$35M
OPERATING INCOME	$71M
Interest Income	$0
Interest Expense	$12M
Other Income/Expenses	$9M
INCOME BEFORE TAX	$80M
Income Tax Expense	$244.0K
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$31M
EBIT	$41M
EBITDA	$73M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$78M
Depreciation & Amortization	$30M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$53M
Change in Working Capital	$12M
OPERATING CASH FLOW	$70M
Capital Expenditure	$0
Acquisitions (Net)	-$6M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$57M
NET CASH FROM INVESTING	-$57M
Net Debt Issuance	$29M
Common Stock Repurchased	$0
Common Dividends Paid	-$30M
Other Financing Activities	-$5M
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$70M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$28M
Short-Term Investments	$0
Net Receivables	$136M
Inventory	$0
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$181M
PP&E (Net)	$3.0B
Goodwill	$0
Intangible Assets	$28M
Long-Term Investments	$18M
Tax Assets	$0
Other Non-Current Assets	$111M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$3.4B
Account Payables	$121M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$152M
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$63M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$1.7B
Common Stock	$1M
Additional Paid-In Capital	$2.1B
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$447M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$33M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$1.4B
Net Debt	$1.4B