MSBI FY 2019 Earnings Report — Midland States Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Midland States Bancorp, Inc.MSBI

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$327M	—	$295M	—	10.9%
Op. Income	$72M	—	$51M	—	42.6%
Gross Margin	76.5%	—	82.1%	—	-5.6pp
Net Margin	17.1%	—	13.4%	—	3.7pp
EPS (Diluted)	$2.26	—	$1.66	—	36.1%
Free Cash Flow	$533M	—	$90M	—	493.3%

Revenue Flow

Item	Amount
REVENUE	$327M
Cost of Revenue	$77M
GROSS PROFIT	$250M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$92M
SG&A Expenses	$96M
Other Expenses	$82M
Operating Expenses	$178M
Cost & Expenses	$254M
OPERATING INCOME	$72M
Interest Income	$250M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$72M
Income Tax Expense	$17M
Net Income from Continuing Ops	$56M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$56M
Net Income Deductions	-$2.0K
BOTTOM LINE NET INCOME	$55M
D&A	$19M
EBIT	$72M
EBITDA	$92M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$327M
Cost of Revenue	$77M
GROSS PROFIT	$250M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$92M
SG&A Expenses	$96M
Other Expenses	$82M
Operating Expenses	$178M
Cost & Expenses	$254M
OPERATING INCOME	$72M
Interest Income	$250M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$72M
Income Tax Expense	$17M
Net Income from Continuing Ops	$56M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$56M
Net Income Deductions	-$2.0K
BOTTOM LINE NET INCOME	$55M
D&A	$19M
EBIT	$72M
EBITDA	$92M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$56M
Depreciation & Amortization	$19M
Stock-Based Compensation	$2M
Deferred Income Tax	$13M
Other Non-Cash Items	$439M
Change in Working Capital	$9M
OPERATING CASH FLOW	$539M
Capital Expenditure	-$6M
Acquisitions (Net)	$70M
Purchases of Investments	-$215M
Sales/Maturities of Investments	$286M
Other Investing Activities	-$501M
NET CASH FROM INVESTING	-$365M
Net Debt Issuance	-$119M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$24M
Other Financing Activities	$156M
NET CASH FROM FINANCING	$7M
FREE CASH FLOW	$533M
Net Change in Cash	$181M

Balance Sheet

Item	Amount
Cash & Equivalents	$393M
Short-Term Investments	$649M
Net Receivables	$349M
Inventory	$0
Other Current Assets	$6M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$105M
Goodwill	$172M
Intangible Assets	$89M
Long-Term Investments	$4.1B
Tax Assets	$0
Other Non-Current Assets	$221M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$6.1B
Account Payables	$6M
Short-Term Debt	$82M
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$670M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$11M
Other Non-Current Liabilities	$96M
TOTAL NON-CURRENT LIABILITIES	$792M
TOTAL LIABILITIES	$5.4B
Common Stock	$244.0K
Additional Paid-In Capital	$488M
Retained Earnings	$166M
Treasury Stock	$0
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$662M
Minority Interest	$0
TOTAL EQUITY	$662M
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$767M
Net Debt	$374M