MTB-PJ Q4 2018 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q4 2018 Earnings

Reported February 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$1.7B	$1.6B	$1.6B	4.6%	9.2%
Op. Income	$699M	$696M	$629M	0.4%	11.2%
Gross Margin	88.3%	90.5%	91.4%	-2.2pp	-3.1pp
Net Margin	32.1%	32.3%	20.7%	-0.2pp	11.4pp
EPS (Diluted)	$3.76	$3.53	$2.01	6.5%	87.1%
Free Cash Flow	$512M	$996M	$700M	-48.6%	-26.8%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$199M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$449M
SG&A Expenses	$475M
Other Expenses	$327M
Operating Expenses	$802M
Cost & Expenses	$1.0B
OPERATING INCOME	$699M
Interest Income	$1.2B
Interest Expense	$161M
Other Income/Expenses	$0
INCOME BEFORE TAX	$699M
Income Tax Expense	$153M
Net Income from Continuing Ops	$546M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$546M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$525M
D&A	$43M
EBIT	$699M
EBITDA	$742M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$199M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$449M
SG&A Expenses	$475M
Other Expenses	$327M
Operating Expenses	$802M
Cost & Expenses	$1.0B
OPERATING INCOME	$699M
Interest Income	$1.2B
Interest Expense	$161M
Other Income/Expenses	$0
INCOME BEFORE TAX	$699M
Income Tax Expense	$153M
Net Income from Continuing Ops	$546M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$546M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$525M
D&A	$43M
EBIT	$699M
EBITDA	$742M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$546M
Depreciation & Amortization	$43M
Stock-Based Compensation	$0
Deferred Income Tax	$89M
Other Non-Cash Items	$50M
Change in Working Capital	-$178M
OPERATING CASH FLOW	$550M
Capital Expenditure	-$38M
Acquisitions (Net)	$0
Purchases of Investments	-$194M
Sales/Maturities of Investments	$687M
Other Investing Activities	-$3.4B
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$2.3B
Common Stock Repurchased	-$500M
Common Dividends Paid	-$139M
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$2.7B
FREE CASH FLOW	$512M
Net Change in Cash	$294M

Balance Sheet

Item	Amount
Cash & Equivalents	$9.7B
Short-Term Investments	$8.7B
Net Receivables	$1.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$19.8B
PP&E (Net)	$647M
Goodwill	$4.6B
Intangible Assets	$47M
Long-Term Investments	$90.1B
Tax Assets	$0
Other Non-Current Assets	$4.8B
TOTAL NON-CURRENT ASSETS	$100.1B
TOTAL ASSETS	$120.1B
Account Payables	$1.6B
Short-Term Debt	$4.8B
Deferred Revenue	$0
Other Current Liabilities	$90.2B
TOTAL CURRENT LIABILITIES	$96.6B
Long-Term Debt	$8.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$8.0B
TOTAL LIABILITIES	$104.6B
Common Stock	$82M
Additional Paid-In Capital	$6.6B
Retained Earnings	$11.5B
Treasury Stock	-$3.5B
Accum. Other Comp. Income	-$420M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.5B
Minority Interest	$0
TOTAL EQUITY	$15.5B
TOTAL LIABILITIES & EQUITY	$120.1B
Total Debt	$12.8B
Net Debt	$3.1B