ONB Q2 2016 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

Q2 2016 Earnings

Reported August 5, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$159M	$144M	—	10.2%	—
Op. Income	$70M	$37M	—	90.8%	—
Gross Margin	92.3%	93.2%	—	-0.9pp	—
Net Margin	24.6%	18.7%	—	5.9pp	—
EPS (Diluted)	$0.31	$0.24	—	29.2%	—
Free Cash Flow	$31M	$10M	—	215.7%	—

Revenue Flow

Item	Amount
REVENUE	$159M
Cost of Revenue	$12M
GROSS PROFIT	$147M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$77M
SG&A Expenses	$82M
Other Expenses	-$5M
Operating Expenses	$77M
Cost & Expenses	$89M
OPERATING INCOME	$70M
Interest Income	$110M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$31M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$7M
EBIT	$70M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$159M
Cost of Revenue	$12M
GROSS PROFIT	$147M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$77M
SG&A Expenses	$82M
Other Expenses	-$5M
Operating Expenses	$77M
Cost & Expenses	$89M
OPERATING INCOME	$70M
Interest Income	$110M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$31M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$7M
EBIT	$70M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$39M
Depreciation & Amortization	$7M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	-$52M
Change in Working Capital	$42M
OPERATING CASH FLOW	$38M
Capital Expenditure	-$7M
Acquisitions (Net)	$29M
Purchases of Investments	-$510M
Sales/Maturities of Investments	$455M
Other Investing Activities	-$174M
NET CASH FROM INVESTING	-$207M
Net Debt Issuance	$200M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$18M
Other Financing Activities	$80M
NET CASH FROM FINANCING	$261M
FREE CASH FLOW	$31M
Net Change in Cash	$92M

Balance Sheet

Item	Amount
Cash & Equivalents	$268M
Short-Term Investments	$2.6B
Net Receivables	$80M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.0B
PP&E (Net)	$232M
Goodwill	$656M
Intangible Assets	$70M
Long-Term Investments	$9.7B
Tax Assets	$179M
Other Non-Current Assets	$594M
TOTAL NON-CURRENT ASSETS	$11.4B
TOTAL ASSETS	$14.4B
Account Payables	$0
Short-Term Debt	$618M
Deferred Revenue	$0
Other Current Liabilities	$10.5B
TOTAL CURRENT LIABILITIES	$11.3B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$12.6B
Common Stock	$135M
Additional Paid-In Capital	$1.3B
Retained Earnings	$357M
Treasury Stock	$0
Accum. Other Comp. Income	-$24M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$14.4B
Total Debt	$1.9B
Net Debt	$1.7B