LKFN FY 2018 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$230M	—	$194M	—	18.6%
Op. Income	$99M	—	$90M	—	10.4%
Gross Margin	76.4%	—	83.0%	—	-6.6pp
Net Margin	35.0%	—	29.6%	—	5.4pp
EPS (Diluted)	$3.13	—	$2.23	—	40.4%
Free Cash Flow	$97M	—	$68M	—	43.4%

Revenue Flow

Item	Amount
REVENUE	$230M
Cost of Revenue	$54M
GROSS PROFIT	$175M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$22M
Operating Expenses	$77M
Cost & Expenses	$131M
OPERATING INCOME	$99M
Interest Income	$199M
Interest Expense	$48M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$19M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$6M
EBIT	$99M
EBITDA	$105M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$230M
Cost of Revenue	$54M
GROSS PROFIT	$175M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$54M
SG&A Expenses	$54M
Other Expenses	$22M
Operating Expenses	$77M
Cost & Expenses	$131M
OPERATING INCOME	$99M
Interest Income	$199M
Interest Expense	$48M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$19M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$6M
EBIT	$99M
EBITDA	$105M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$80M
Depreciation & Amortization	$6M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	$8M
Change in Working Capital	$5M
OPERATING CASH FLOW	$105M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$127M
Sales/Maturities of Investments	$69M
Other Investing Activities	-$101M
NET CASH FROM INVESTING	-$166M
Net Debt Issuance	$95M
Common Stock Repurchased	-$463.0K
Common Dividends Paid	-$25M
Other Financing Activities	$33M
NET CASH FROM FINANCING	$102M
FREE CASH FLOW	$97M
Net Change in Cash	$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$217M
Short-Term Investments	$586M
Net Receivables	$16M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$818M
PP&E (Net)	$58M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$3.9B
Tax Assets	$0
Other Non-Current Assets	$126M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$4.9B
Account Payables	$10M
Short-Term Debt	$246M
Deferred Revenue	$0
Other Current Liabilities	$4.0B
TOTAL CURRENT LIABILITIES	$4.3B
Long-Term Debt	$201M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$147M
TOTAL NON-CURRENT LIABILITIES	$54M
TOTAL LIABILITIES	$4.4B
Common Stock	$112M
Additional Paid-In Capital	$0
Retained Earnings	$419M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$522M
Minority Interest	$89.0K
TOTAL EQUITY	$522M
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$446M
Net Debt	$230M