NWBI FY 2019 Earnings Report — Northwest Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Northwest Bancshares, Inc.NWBI

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$514M	—	$465M	—	10.5%
Op. Income	$141M	—	$134M	—	5.4%
Gross Margin	84.5%	—	87.6%	—	-3.1pp
Net Margin	21.5%	—	22.7%	—	-1.2pp
EPS (Diluted)	$1.04	—	$1.02	—	2.0%
Free Cash Flow	$117M	—	$134M	—	-12.8%

Revenue Flow

Item	Amount
REVENUE	$514M
Cost of Revenue	$80M
GROSS PROFIT	$435M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$178M
SG&A Expenses	$185M
Other Expenses	$109M
Operating Expenses	$294M
Cost & Expenses	$373M
OPERATING INCOME	$141M
Interest Income	$416M
Interest Expense	$57M
Other Income/Expenses	$0
INCOME BEFORE TAX	$141M
Income Tax Expense	$31M
Net Income from Continuing Ops	$110M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$110M
D&A	$4M
EBIT	$141M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$514M
Cost of Revenue	$80M
GROSS PROFIT	$435M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$178M
SG&A Expenses	$185M
Other Expenses	$109M
Operating Expenses	$294M
Cost & Expenses	$373M
OPERATING INCOME	$141M
Interest Income	$416M
Interest Expense	$57M
Other Income/Expenses	$0
INCOME BEFORE TAX	$141M
Income Tax Expense	$31M
Net Income from Continuing Ops	$110M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$110M
D&A	$4M
EBIT	$141M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$110M
Depreciation & Amortization	$4M
Stock-Based Compensation	$7M
Deferred Income Tax	$3M
Other Non-Cash Items	$16M
Change in Working Capital	-$12M
OPERATING CASH FLOW	$127M
Capital Expenditure	-$11M
Acquisitions (Net)	-$29M
Purchases of Investments	-$200M
Sales/Maturities of Investments	$278M
Other Investing Activities	-$339M
NET CASH FROM INVESTING	-$301M
Net Debt Issuance	$12M
Common Stock Repurchased	$0
Common Dividends Paid	-$76M
Other Financing Activities	$229M
NET CASH FROM FINANCING	$165M
FREE CASH FLOW	$117M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$61M
Short-Term Investments	$820M
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$907M
PP&E (Net)	$147M
Goodwill	$346M
Intangible Assets	$23M
Long-Term Investments	$8.8B
Tax Assets	$0
Other Non-Current Assets	$302M
TOTAL NON-CURRENT ASSETS	$9.6B
TOTAL ASSETS	$10.5B
Account Payables	$1M
Short-Term Debt	$93M
Deferred Revenue	$0
Other Current Liabilities	$8.6B
TOTAL CURRENT LIABILITIES	$8.7B
Long-Term Debt	$275M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$179M
TOTAL NON-CURRENT LIABILITIES	$455M
TOTAL LIABILITIES	$9.1B
Common Stock	$1M
Additional Paid-In Capital	$806M
Retained Earnings	$583M
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$10.5B
Total Debt	$368M
Net Debt	$307M