LKFN FY 2021 Earnings Report — Lakeland Financial Corporation Revenue & Financial Results | Market Cap Arena

Lakeland Financial CorporationLKFN

FY 2021 Earnings

Reported February 23, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$238M	—	$228M	—	4.3%
Op. Income	$117M	—	$104M	—	13.1%
Gross Margin	93.2%	—	80.3%	—	12.9pp
Net Margin	40.2%	—	37.0%	—	3.3pp
EPS (Diluted)	$3.74	—	$3.30	—	13.3%
Free Cash Flow	$108M	—	$82M	—	32.0%

Revenue Flow

Item	Amount
REVENUE	$238M
Cost of Revenue	$16M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$60M
SG&A Expenses	$60M
Other Expenses	$44M
Operating Expenses	$104M
Cost & Expenses	$120M
OPERATING INCOME	$117M
Interest Income	$193M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$22M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$96M
D&A	$8M
EBIT	$117M
EBITDA	$126M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$238M
Cost of Revenue	$16M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$60M
SG&A Expenses	$60M
Other Expenses	$44M
Operating Expenses	$104M
Cost & Expenses	$120M
OPERATING INCOME	$117M
Interest Income	$193M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$22M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$96M
D&A	$8M
EBIT	$117M
EBITDA	$126M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$96M
Depreciation & Amortization	$8M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	$5M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$114M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$835M
Sales/Maturities of Investments	$152M
Other Investing Activities	$358M
NET CASH FROM INVESTING	-$332M
Net Debt Issuance	-$11M
Common Stock Repurchased	-$559.0K
Common Dividends Paid	-$35M
Other Financing Activities	$697M
NET CASH FROM FINANCING	$651M
FREE CASH FLOW	$108M
Net Change in Cash	$433M

Balance Sheet

Item	Amount
Cash & Equivalents	$683M
Short-Term Investments	$1.4B
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$59M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$166M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$6.6B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.7B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$75M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$39M
TOTAL NON-CURRENT LIABILITIES	$114M
TOTAL LIABILITIES	$5.9B
Common Stock	$121M
Additional Paid-In Capital	$0
Retained Earnings	$583M
Treasury Stock	-$15M
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$705M
Minority Interest	$89.0K
TOTAL EQUITY	$705M
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$75M
Net Debt	-$608M