MTB-PJ Q2 2020 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q2 2020 Earnings

Reported August 5, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2020	Q1 2020	Q2 2019	QoQ Change	YoY Change
Revenue	$1.5B	$1.6B	$1.8B	-7.9%	-13.2%
Op. Income	$312M	$350M	$626M	-10.7%	-50.1%
Gross Margin	73.7%	76.1%	85.6%	-2.5pp	-12.0pp
Net Margin	15.9%	16.3%	27.0%	-0.4pp	-11.2pp
EPS (Diluted)	$1.74	$1.93	$3.34	-9.8%	-47.9%
Free Cash Flow	$483M	-$446M	$15M	208.4%	3139.0%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$400M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$473M
SG&A Expenses	$483M
Other Expenses	$324M
Operating Expenses	$807M
Cost & Expenses	$1.2B
OPERATING INCOME	$312M
Interest Income	$1.0B
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$312M
Income Tax Expense	$71M
Net Income from Continuing Ops	$241M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$241M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$223M
D&A	$77M
EBIT	$312M
EBITDA	$389M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$400M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$473M
SG&A Expenses	$483M
Other Expenses	$324M
Operating Expenses	$807M
Cost & Expenses	$1.2B
OPERATING INCOME	$312M
Interest Income	$1.0B
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$312M
Income Tax Expense	$71M
Net Income from Continuing Ops	$241M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$241M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$223M
D&A	$77M
EBIT	$312M
EBITDA	$389M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$241M
Depreciation & Amortization	$77M
Stock-Based Compensation	$0
Deferred Income Tax	-$54M
Other Non-Cash Items	$336M
Change in Working Capital	-$74M
OPERATING CASH FLOW	$526M
Capital Expenditure	-$42M
Acquisitions (Net)	$0
Purchases of Investments	-$7M
Sales/Maturities of Investments	$552M
Other Investing Activities	-$15.6B
NET CASH FROM INVESTING	-$15.1B
Net Debt Issuance	-$8M
Common Stock Repurchased	$0
Common Dividends Paid	-$142M
Other Financing Activities	$14.8B
NET CASH FROM FINANCING	$14.6B
FREE CASH FLOW	$483M
Net Change in Cash	$57M

Balance Sheet

Item	Amount
Cash & Equivalents	$22.2B
Short-Term Investments	$5.7B
Net Receivables	$5.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$33.6B
PP&E (Net)	$1.2B
Goodwill	$4.6B
Intangible Assets	$21M
Long-Term Investments	$98.9B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$105.9B
TOTAL ASSETS	$139.5B
Account Payables	$2.3B
Short-Term Debt	$52M
Deferred Revenue	$0
Other Current Liabilities	$115.0B
TOTAL CURRENT LIABILITIES	$117.3B
Long-Term Debt	$6.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$6.3B
TOTAL LIABILITIES	$123.6B
Common Stock	$81M
Additional Paid-In Capital	$6.6B
Retained Earnings	$12.9B
Treasury Stock	-$5.1B
Accum. Other Comp. Income	$245M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.9B
Minority Interest	$0
TOTAL EQUITY	$15.9B
TOTAL LIABILITIES & EQUITY	$139.5B
Total Debt	$6.4B
Net Debt	-$15.9B