PB Q1 2022 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

Q1 2022 Earnings

Reported May 5, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$275M	$280M	$298M	-1.8%	-7.6%
Op. Income	$155M	$161M	$170M	-3.6%	-8.4%
Gross Margin	96.8%	96.8%	94.1%	-0.1pp	2.6pp
Net Margin	44.5%	45.2%	44.8%	-0.8pp	-0.3pp
EPS (Diluted)	$1.33	$1.38	$1.44	-3.6%	-7.6%
Free Cash Flow	$212M	$71M	$223M	199.3%	-4.6%

Revenue Flow

Item	Amount
REVENUE	$275M
Cost of Revenue	$9M
GROSS PROFIT	$266M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$82M
SG&A Expenses	$82M
Other Expenses	$29M
Operating Expenses	$111M
Cost & Expenses	$120M
OPERATING INCOME	$155M
Interest Income	$249M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$33M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$122M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$122M
D&A	$7M
EBIT	$155M
EBITDA	$162M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$275M
Cost of Revenue	$9M
GROSS PROFIT	$266M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$82M
SG&A Expenses	$82M
Other Expenses	$29M
Operating Expenses	$111M
Cost & Expenses	$120M
OPERATING INCOME	$155M
Interest Income	$249M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$155M
Income Tax Expense	$33M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$122M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$122M
D&A	$7M
EBIT	$155M
EBITDA	$162M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$122M
Depreciation & Amortization	$7M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$11M
Change in Working Capital	$93M
OPERATING CASH FLOW	$236M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$4.1B
Sales/Maturities of Investments	$2.1B
Other Investing Activities	$551M
NET CASH FROM INVESTING	-$1.5B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$48M
Other Financing Activities	$289M
NET CASH FROM FINANCING	$242M
FREE CASH FLOW	$212M
Net Change in Cash	-$987M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$461M
Net Receivables	$70M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$336M
Goodwill	$3.2B
Intangible Assets	$59M
Long-Term Investments	$32.1B
Tax Assets	$0
Other Non-Current Assets	$434M
TOTAL NON-CURRENT ASSETS	$36.2B
TOTAL ASSETS	$38.3B
Account Payables	$1M
Short-Term Debt	$441M
Deferred Revenue	$0
Other Current Liabilities	$31.1B
TOTAL CURRENT LIABILITIES	$31.5B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$256M
TOTAL NON-CURRENT LIABILITIES	$256M
TOTAL LIABILITIES	$31.8B
Common Stock	$92M
Additional Paid-In Capital	$3.6B
Retained Earnings	$2.8B
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.5B
Minority Interest	$0
TOTAL EQUITY	$6.5B
TOTAL LIABILITIES & EQUITY	$38.3B
Total Debt	$441M
Net Debt	-$1.1B