NWBI FY 2022 Earnings Report — Northwest Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Northwest Bancshares, Inc.NWBI

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$558M	—	$534M	—	4.4%
Op. Income	$174M	—	$201M	—	-13.6%
Gross Margin	89.9%	—	97.9%	—	-8.0pp
Net Margin	24.0%	—	28.9%	—	-4.9pp
EPS (Diluted)	$1.05	—	$1.21	—	-13.2%
Free Cash Flow	$171M	—	$188M	—	-9.0%

Revenue Flow

Item	Amount
REVENUE	$558M
Cost of Revenue	$56M
GROSS PROFIT	$501M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$193M
SG&A Expenses	$202M
Other Expenses	$125M
Operating Expenses	$328M
Cost & Expenses	$384M
OPERATING INCOME	$174M
Interest Income	$448M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$174M
Income Tax Expense	$40M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$134M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$6M
EBIT	$174M
EBITDA	$180M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$558M
Cost of Revenue	$56M
GROSS PROFIT	$501M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$193M
SG&A Expenses	$202M
Other Expenses	$125M
Operating Expenses	$328M
Cost & Expenses	$384M
OPERATING INCOME	$174M
Interest Income	$448M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$174M
Income Tax Expense	$40M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$134M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$6M
EBIT	$174M
EBITDA	$180M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$134M
Depreciation & Amortization	$6M
Stock-Based Compensation	$4M
Deferred Income Tax	-$6M
Other Non-Cash Items	$51M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$175M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$315M
Sales/Maturities of Investments	$330M
Other Investing Activities	-$928M
NET CASH FROM INVESTING	-$917M
Net Debt Issuance	$532M
Common Stock Repurchased	$0
Common Dividends Paid	-$101M
Other Financing Activities	-$828M
NET CASH FROM FINANCING	-$398M
FREE CASH FLOW	$171M
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$139M
Short-Term Investments	$1.2B
Net Receivables	$36M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$146M
Goodwill	$381M
Intangible Assets	$9M
Long-Term Investments	$11.7B
Tax Assets	$0
Other Non-Current Assets	$501M
TOTAL NON-CURRENT ASSETS	$12.7B
TOTAL ASSETS	$14.1B
Account Payables	$3M
Short-Term Debt	$681M
Deferred Revenue	$0
Other Current Liabilities	$11.5B
TOTAL CURRENT LIABILITIES	$12.1B
Long-Term Debt	$243M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$230M
TOTAL NON-CURRENT LIABILITIES	$473M
TOTAL LIABILITIES	$12.6B
Common Stock	$1M
Additional Paid-In Capital	$1.0B
Retained Earnings	$642M
Treasury Stock	$0
Accum. Other Comp. Income	-$171M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$14.1B
Total Debt	$924M
Net Debt	$785M