MTB-PJ Q1 2018 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q1 2018 Earnings

Reported May 4, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$1.5B	$1.6B	$1.5B	-1.1%	6.1%
Op. Income	$458M	$629M	$518M	-27.2%	-11.7%
Gross Margin	90.3%	91.4%	89.9%	-1.1pp	0.4pp
Net Margin	22.9%	20.7%	24.0%	2.2pp	-1.1pp
EPS (Diluted)	$2.23	$2.01	$2.12	10.9%	5.2%
Free Cash Flow	$475M	$700M	$1.3B	-32.2%	-62.5%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$150M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$484M
SG&A Expenses	$500M
Other Expenses	$433M
Operating Expenses	$933M
Cost & Expenses	$1.1B
OPERATING INCOME	$458M
Interest Income	$1.1B
Interest Expense	$107M
Other Income/Expenses	$0
INCOME BEFORE TAX	$458M
Income Tax Expense	$105M
Net Income from Continuing Ops	$353M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$353M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$333M
D&A	$46M
EBIT	$458M
EBITDA	$503M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$150M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$484M
SG&A Expenses	$500M
Other Expenses	$433M
Operating Expenses	$933M
Cost & Expenses	$1.1B
OPERATING INCOME	$458M
Interest Income	$1.1B
Interest Expense	$107M
Other Income/Expenses	$0
INCOME BEFORE TAX	$458M
Income Tax Expense	$105M
Net Income from Continuing Ops	$353M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$353M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$333M
D&A	$46M
EBIT	$458M
EBITDA	$503M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$353M
Depreciation & Amortization	$46M
Stock-Based Compensation	$0
Deferred Income Tax	-$125M
Other Non-Cash Items	$42M
Change in Working Capital	$169M
OPERATING CASH FLOW	$484M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$288M
Sales/Maturities of Investments	$728M
Other Investing Activities	-$679M
NET CASH FROM INVESTING	-$249M
Net Debt Issuance	$1.9B
Common Stock Repurchased	-$721M
Common Dividends Paid	-$112M
Other Financing Activities	-$1.5B
NET CASH FROM FINANCING	-$364M
FREE CASH FLOW	$475M
Net Change in Cash	-$128M

Balance Sheet

Item	Amount
Cash & Equivalents	$7.4B
Short-Term Investments	$9.0B
Net Receivables	$5.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$21.5B
PP&E (Net)	$629M
Goodwill	$4.6B
Intangible Assets	$65M
Long-Term Investments	$91.7B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$97.0B
TOTAL ASSETS	$118.6B
Account Payables	$1.7B
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$90.9B
TOTAL CURRENT LIABILITIES	$94.3B
Long-Term Debt	$8.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$8.6B
TOTAL LIABILITIES	$102.9B
Common Stock	$82M
Additional Paid-In Capital	$6.6B
Retained Earnings	$10.4B
Treasury Stock	-$2.1B
Accum. Other Comp. Income	-$483M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.7B
Minority Interest	$0
TOTAL EQUITY	$15.7B
TOTAL LIABILITIES & EQUITY	$118.6B
Total Debt	$10.2B
Net Debt	$2.8B