MTB-PJ Q3 2018 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q3 2018 Earnings

Reported November 5, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$1.6B	$1.6B	$1.5B	2.5%	7.3%
Op. Income	$696M	$655M	$581M	6.4%	19.9%
Gross Margin	90.5%	90.2%	91.4%	0.3pp	-0.9pp
Net Margin	32.3%	31.1%	23.5%	1.3pp	8.9pp
EPS (Diluted)	$3.53	$3.26	$2.21	8.3%	59.7%
Free Cash Flow	$996M	$9M	$430M	10396.1%	131.7%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$154M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$450M
SG&A Expenses	$472M
Other Expenses	$304M
Operating Expenses	$776M
Cost & Expenses	$930M
OPERATING INCOME	$696M
Interest Income	$1.2B
Interest Expense	$138M
Other Income/Expenses	$0
INCOME BEFORE TAX	$696M
Income Tax Expense	$170M
Net Income from Continuing Ops	$526M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$526M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$505M
D&A	$45M
EBIT	$696M
EBITDA	$741M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$154M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$450M
SG&A Expenses	$472M
Other Expenses	$304M
Operating Expenses	$776M
Cost & Expenses	$930M
OPERATING INCOME	$696M
Interest Income	$1.2B
Interest Expense	$138M
Other Income/Expenses	$0
INCOME BEFORE TAX	$696M
Income Tax Expense	$170M
Net Income from Continuing Ops	$526M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$526M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$505M
D&A	$45M
EBIT	$696M
EBITDA	$741M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$526M
Depreciation & Amortization	$45M
Stock-Based Compensation	$0
Deferred Income Tax	$51M
Other Non-Cash Items	$765M
Change in Working Capital	-$368M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$22M
Acquisitions (Net)	$0
Purchases of Investments	-$572M
Sales/Maturities of Investments	$736M
Other Investing Activities	$733M
NET CASH FROM INVESTING	$874M
Net Debt Issuance	-$1.2B
Common Stock Repurchased	-$499M
Common Dividends Paid	-$144M
Other Financing Activities	-$133M
NET CASH FROM FINANCING	-$1.9B
FREE CASH FLOW	$996M
Net Change in Cash	-$57M

Balance Sheet

Item	Amount
Cash & Equivalents	$7.8B
Short-Term Investments	$9.1B
Net Receivables	$4.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$21.8B
PP&E (Net)	$634M
Goodwill	$4.6B
Intangible Assets	$52M
Long-Term Investments	$89.6B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$94.9B
TOTAL ASSETS	$116.8B
Account Payables	$1.8B
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$89.1B
TOTAL CURRENT LIABILITIES	$92.3B
Long-Term Debt	$9.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$9.1B
TOTAL LIABILITIES	$101.4B
Common Stock	$82M
Additional Paid-In Capital	$6.6B
Retained Earnings	$11.1B
Treasury Stock	-$3.0B
Accum. Other Comp. Income	-$542M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.4B
Minority Interest	$0
TOTAL EQUITY	$15.4B
TOTAL LIABILITIES & EQUITY	$116.8B
Total Debt	$10.5B
Net Debt	$2.6B