MTB-PJ Q3 2019 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q3 2019 Earnings

Reported November 5, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$1.8B	$1.8B	$1.6B	0.4%	8.0%
Op. Income	$635M	$626M	$696M	1.5%	-8.8%
Gross Margin	86.1%	85.6%	90.5%	0.4pp	-4.4pp
Net Margin	27.3%	27.0%	32.3%	0.3pp	-5.0pp
EPS (Diluted)	$3.47	$3.34	$3.53	3.9%	-1.7%
Free Cash Flow	$710M	$15M	$996M	4655.8%	-28.7%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$245M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$487M
SG&A Expenses	$509M
Other Expenses	$369M
Operating Expenses	$878M
Cost & Expenses	$1.1B
OPERATING INCOME	$635M
Interest Income	$1.2B
Interest Expense	$200M
Other Income/Expenses	$0
INCOME BEFORE TAX	$635M
Income Tax Expense	$155M
Net Income from Continuing Ops	$480M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$480M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$461M
D&A	$78M
EBIT	$635M
EBITDA	$713M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$245M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$487M
SG&A Expenses	$509M
Other Expenses	$369M
Operating Expenses	$878M
Cost & Expenses	$1.1B
OPERATING INCOME	$635M
Interest Income	$1.2B
Interest Expense	$200M
Other Income/Expenses	$0
INCOME BEFORE TAX	$635M
Income Tax Expense	$155M
Net Income from Continuing Ops	$480M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$480M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$461M
D&A	$78M
EBIT	$635M
EBITDA	$713M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$480M
Depreciation & Amortization	$78M
Stock-Based Compensation	$0
Deferred Income Tax	$866.0K
Other Non-Cash Items	$43M
Change in Working Capital	$145M
OPERATING CASH FLOW	$747M
Capital Expenditure	-$37M
Acquisitions (Net)	$0
Purchases of Investments	-$366M
Sales/Maturities of Investments	$1.3B
Other Investing Activities	-$4.3B
NET CASH FROM INVESTING	-$3.4B
Net Debt Issuance	$227M
Common Stock Repurchased	-$681M
Common Dividends Paid	-$133M
Other Financing Activities	$3.4B
NET CASH FROM FINANCING	$3.2B
FREE CASH FLOW	$710M
Net Change in Cash	$547M

Balance Sheet

Item	Amount
Cash & Equivalents	$14.3B
Short-Term Investments	$7.4B
Net Receivables	$5.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$27.1B
PP&E (Net)	$1.1B
Goodwill	$4.6B
Intangible Assets	$33M
Long-Term Investments	$92.1B
Tax Assets	$0
Other Non-Current Assets	$614M
TOTAL NON-CURRENT ASSETS	$98.4B
TOTAL ASSETS	$125.5B
Account Payables	$2.1B
Short-Term Debt	$5.5B
Deferred Revenue	$0
Other Current Liabilities	$95.1B
TOTAL CURRENT LIABILITIES	$102.7B
Long-Term Debt	$7.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$7.0B
TOTAL LIABILITIES	$109.7B
Common Stock	$81M
Additional Paid-In Capital	$6.6B
Retained Earnings	$12.5B
Treasury Stock	-$4.5B
Accum. Other Comp. Income	-$80M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.8B
Minority Interest	$0
TOTAL EQUITY	$15.8B
TOTAL LIABILITIES & EQUITY	$125.5B
Total Debt	$12.5B
Net Debt	-$1.8B