PGC FY 2019 Earnings Report — Peapack-Gladstone Financial Corporation Revenue & Financial Results | Market Cap Arena

Peapack-Gladstone Financial CorporationPGC

FY 2019 Earnings

Reported March 13, 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	$235M	—	$204M	—	15.6%
Op. Income	$66M	—	$58M	—	14.6%
Gross Margin	72.6%	—	76.4%	—	-3.8pp
Net Margin	20.2%	—	21.7%	—	-1.5pp
EPS (Diluted)	$2.44	—	$2.31	—	5.6%
Free Cash Flow	$85M	—	$63M	—	33.9%

Revenue Flow

Item	Amount
REVENUE	$235M
Cost of Revenue	$64M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$70M
SG&A Expenses	$72M
Other Expenses	$33M
Operating Expenses	$105M
Cost & Expenses	$169M
OPERATING INCOME	$66M
Interest Income	$181M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$66M
Income Tax Expense	$19M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$4M
EBIT	$66M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$235M
Cost of Revenue	$64M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$70M
SG&A Expenses	$72M
Other Expenses	$33M
Operating Expenses	$105M
Cost & Expenses	$169M
OPERATING INCOME	$66M
Interest Income	$181M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$66M
Income Tax Expense	$19M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$4M
EBIT	$66M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$4M
Stock-Based Compensation	$158.0K
Deferred Income Tax	$10M
Other Non-Cash Items	$7M
Change in Working Capital	$17M
OPERATING CASH FLOW	$86M
Capital Expenditure	-$2M
Acquisitions (Net)	-$3M
Purchases of Investments	-$216M
Sales/Maturities of Investments	$209M
Other Investing Activities	-$475M
NET CASH FROM INVESTING	-$487M
Net Debt Issuance	$125M
Common Stock Repurchased	-$22M
Common Dividends Paid	-$4M
Other Financing Activities	$349M
NET CASH FROM FINANCING	$448M
FREE CASH FLOW	$85M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$208M
Short-Term Investments	$391M
Net Receivables	$10M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$609M
PP&E (Net)	$38M
Goodwill	$30M
Intangible Assets	$10M
Long-Term Investments	$4.4B
Tax Assets	$0
Other Non-Current Assets	$116M
TOTAL NON-CURRENT ASSETS	$4.6B
TOTAL ASSETS	$5.2B
Account Payables	$8M
Short-Term Debt	$128M
Deferred Revenue	$0
Other Current Liabilities	$4.2B
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$188M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$235M
TOTAL LIABILITIES	$4.7B
Common Stock	$17M
Additional Paid-In Capital	$319M
Retained Earnings	$199M
Treasury Stock	-$30M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$504M
Minority Interest	$0
TOTAL EQUITY	$504M
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$337M
Net Debt	$128M