FRME Q2 2018 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

Q2 2018 Earnings

Reported August 9, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$119M	$113M	$90M	5.2%	32.4%
Op. Income	$48M	$43M	$31M	9.9%	51.9%
Gross Margin	84.9%	85.7%	87.5%	-0.8pp	-2.6pp
Net Margin	33.3%	32.4%	26.8%	0.9pp	6.4pp
EPS (Diluted)	$0.80	$0.74	$0.57	8.1%	40.4%
Free Cash Flow	$51M	$31M	$22M	63.6%	128.8%

Revenue Flow

Item	Amount
REVENUE	$119M
Cost of Revenue	$18M
GROSS PROFIT	$101M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$33M
SG&A Expenses	$34M
Other Expenses	$19M
Operating Expenses	$54M
Cost & Expenses	$71M
OPERATING INCOME	$48M
Interest Income	$101M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$8M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$2M
EBIT	$48M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$119M
Cost of Revenue	$18M
GROSS PROFIT	$101M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$33M
SG&A Expenses	$34M
Other Expenses	$19M
Operating Expenses	$54M
Cost & Expenses	$71M
OPERATING INCOME	$48M
Interest Income	$101M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$8M
Net Income from Continuing Ops	$40M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$40M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$2M
EBIT	$48M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$40M
Depreciation & Amortization	$2M
Stock-Based Compensation	$778.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$11M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$51M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$163M
Sales/Maturities of Investments	$82M
Other Investing Activities	-$193M
NET CASH FROM INVESTING	-$274M
Net Debt Issuance	$62M
Common Stock Repurchased	-$26.0K
Common Dividends Paid	-$11M
Other Financing Activities	$177M
NET CASH FROM FINANCING	$229M
FREE CASH FLOW	$51M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$170M
Short-Term Investments	$1.1B
Net Receivables	$40M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$94M
Goodwill	$445M
Intangible Assets	$28M
Long-Term Investments	$7.5B
Tax Assets	$25M
Other Non-Current Assets	$308M
TOTAL NON-CURRENT ASSETS	$8.4B
TOTAL ASSETS	$9.7B
Account Payables	$5M
Short-Term Debt	$232M
Deferred Revenue	$0
Other Current Liabilities	$7.5B
TOTAL CURRENT LIABILITIES	$7.7B
Long-Term Debt	$608M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$47M
TOTAL NON-CURRENT LIABILITIES	$654M
TOTAL LIABILITIES	$8.4B
Common Stock	$6M
Additional Paid-In Capital	$837M
Retained Earnings	$522M
Treasury Stock	$0
Accum. Other Comp. Income	-$25M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$9.7B
Total Debt	$839M
Net Debt	$669M