KRNY FY 2023 Earnings Report — Kearny Financial Corp. Revenue & Financial Results | Market Cap Arena

Kearny Financial Corp.KRNY

FY 2023 Earnings

Reported August 25, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$296M	—	$240M	—	23.4%
Op. Income	$52M	—	$92M	—	-43.3%
Gross Margin	59.4%	—	90.8%	—	-31.4pp
Net Margin	13.8%	—	28.1%	—	-14.4pp
EPS (Diluted)	$0.63	—	$0.95	—	-33.7%
Free Cash Flow	$68M	—	$78M	—	-13.0%

Revenue Flow

Item	Amount
REVENUE	$296M
Cost of Revenue	$120M
GROSS PROFIT	$176M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$82M
SG&A Expenses	$84M
Other Expenses	$40M
Operating Expenses	$124M
Cost & Expenses	$244M
OPERATING INCOME	$52M
Interest Income	$294M
Interest Expense	$118M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$12M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$6M
EBIT	$52M
EBITDA	$59M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$296M
Cost of Revenue	$120M
GROSS PROFIT	$176M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$82M
SG&A Expenses	$84M
Other Expenses	$40M
Operating Expenses	$124M
Cost & Expenses	$244M
OPERATING INCOME	$52M
Interest Income	$294M
Interest Expense	$118M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$12M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$6M
EBIT	$52M
EBITDA	$59M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$6M
Stock-Based Compensation	$5M
Deferred Income Tax	$3M
Other Non-Cash Items	$33M
Change in Working Capital	-$18M
OPERATING CASH FLOW	$70M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$208M
Sales/Maturities of Investments	$242M
Other Investing Activities	-$451M
NET CASH FROM INVESTING	-$418M
Net Debt Issuance	$605M
Common Stock Repurchased	-$28M
Common Dividends Paid	-$28M
Other Financing Activities	-$231M
NET CASH FROM FINANCING	$317M
FREE CASH FLOW	$68M
Net Change in Cash	-$31M

Balance Sheet

Item	Amount
Cash & Equivalents	$71M
Short-Term Investments	$1.2B
Net Receivables	$28M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$48M
Goodwill	$211M
Intangible Assets	$2M
Long-Term Investments	$5.9B
Tax Assets	$52M
Other Non-Current Assets	$488M
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$8.1B
Account Payables	$0
Short-Term Debt	$225M
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$7.2B
Common Stock	$659.0K
Additional Paid-In Capital	$503M
Retained Earnings	$458M
Treasury Stock	$0
Accum. Other Comp. Income	-$69M
Other Equity	-$23M
TOTAL STOCKHOLDERS' EQUITY	$869M
Minority Interest	$0
TOTAL EQUITY	$869M
TOTAL LIABILITIES & EQUITY	$8.1B
Total Debt	$1.5B
Net Debt	$1.4B