MTB-PJ Q4 2019 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

Q4 2019 Earnings

Reported February 19, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$1.7B	$1.8B	$1.7B	-2.9%	0.4%
Op. Income	$652M	$635M	$699M	2.7%	-6.7%
Gross Margin	86.5%	86.1%	88.3%	0.4pp	-1.8pp
Net Margin	28.9%	27.3%	32.1%	1.6pp	-3.2pp
EPS (Diluted)	$3.60	$3.47	$3.76	3.7%	-4.3%
Free Cash Flow	$1.1B	$710M	$512M	51.1%	109.5%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$231M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$482M
SG&A Expenses	$509M
Other Expenses	$315M
Operating Expenses	$824M
Cost & Expenses	$1.1B
OPERATING INCOME	$652M
Interest Income	$1.2B
Interest Expense	$177M
Other Income/Expenses	$0
INCOME BEFORE TAX	$652M
Income Tax Expense	$159M
Net Income from Continuing Ops	$493M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$493M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$473M
D&A	$77M
EBIT	$652M
EBITDA	$729M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$231M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$482M
SG&A Expenses	$509M
Other Expenses	$315M
Operating Expenses	$824M
Cost & Expenses	$1.1B
OPERATING INCOME	$652M
Interest Income	$1.2B
Interest Expense	$177M
Other Income/Expenses	$0
INCOME BEFORE TAX	$652M
Income Tax Expense	$159M
Net Income from Continuing Ops	$493M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$493M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$473M
D&A	$77M
EBIT	$652M
EBITDA	$729M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$493M
Depreciation & Amortization	$77M
Stock-Based Compensation	$0
Deferred Income Tax	$41M
Other Non-Cash Items	$53M
Change in Working Capital	$466M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$59M
Acquisitions (Net)	$0
Purchases of Investments	-$177M
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$3.6B
NET CASH FROM INVESTING	$4.7B
Net Debt Issuance	-$5.5B
Common Stock Repurchased	-$282M
Common Dividends Paid	-$145M
Other Financing Activities	-$347M
NET CASH FROM FINANCING	-$6.2B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$383M

Balance Sheet

Item	Amount
Cash & Equivalents	$8.6B
Short-Term Investments	$6.3B
Net Receivables	$1.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.4B
PP&E (Net)	$1.1B
Goodwill	$4.6B
Intangible Assets	$29M
Long-Term Investments	$91.6B
Tax Assets	$0
Other Non-Current Assets	$5.6B
TOTAL NON-CURRENT ASSETS	$103.0B
TOTAL ASSETS	$119.9B
Account Payables	$2.3B
Short-Term Debt	$164M
Deferred Revenue	$0
Other Current Liabilities	$94.8B
TOTAL CURRENT LIABILITIES	$97.3B
Long-Term Debt	$6.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$6.9B
TOTAL LIABILITIES	$104.2B
Common Stock	$81M
Additional Paid-In Capital	$6.6B
Retained Earnings	$12.8B
Treasury Stock	-$4.8B
Accum. Other Comp. Income	-$207M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.7B
Minority Interest	$0
TOTAL EQUITY	$15.7B
TOTAL LIABILITIES & EQUITY	$119.9B
Total Debt	$7.0B
Net Debt	-$1.6B