PNFP Q1 2019 Earnings Report — Pinnacle Financial Partners, Inc. Revenue & Financial Results | Market Cap Arena

Pinnacle Financial Partners, Inc.PNFP

Q1 2019 Earnings

Reported May 3, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$285M	$284M	$246M	0.1%	15.5%
Op. Income	$117M	$119M	$103M	-1.4%	13.5%
Gross Margin	72.6%	73.5%	82.1%	-0.9pp	-9.5pp
Net Margin	33.0%	33.5%	33.9%	-0.5pp	-0.9pp
EPS (Diluted)	$1.22	$1.23	$1.08	-0.8%	13.0%
Free Cash Flow	$153M	$147M	$72M	4.2%	112.5%

Revenue Flow

Item	Amount
REVENUE	$285M
Cost of Revenue	$78M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$70M
SG&A Expenses	$73M
Other Expenses	$16M
Operating Expenses	$90M
Cost & Expenses	$167M
OPERATING INCOME	$117M
Interest Income	$258M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$23M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$468.0K
EBIT	$117M
EBITDA	$118M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$285M
Cost of Revenue	$78M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$70M
SG&A Expenses	$73M
Other Expenses	$16M
Operating Expenses	$90M
Cost & Expenses	$167M
OPERATING INCOME	$117M
Interest Income	$258M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$23M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$468.0K
EBIT	$117M
EBITDA	$118M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$94M
Depreciation & Amortization	$468.0K
Stock-Based Compensation	$5M
Deferred Income Tax	$9M
Other Non-Cash Items	-$6M
Change in Working Capital	$53M
OPERATING CASH FLOW	$155M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$325M
Sales/Maturities of Investments	$199M
Other Investing Activities	-$522M
NET CASH FROM INVESTING	-$650M
Net Debt Issuance	$677M
Common Stock Repurchased	-$30M
Common Dividends Paid	-$13M
Other Financing Activities	-$376M
NET CASH FROM FINANCING	$258M
FREE CASH FLOW	$153M
Net Change in Cash	-$236M

Balance Sheet

Item	Amount
Cash & Equivalents	$378M
Short-Term Investments	$3.3B
Net Receivables	$80M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$263M
Goodwill	$1.8B
Intangible Assets	$44M
Long-Term Investments	$18.6B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$21.9B
TOTAL ASSETS	$25.6B
Account Payables	$26M
Short-Term Debt	$101M
Deferred Revenue	$0
Other Current Liabilities	$18.5B
TOTAL CURRENT LIABILITIES	$18.6B
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$289M
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$21.5B
Common Stock	$77M
Additional Paid-In Capital	$3.1B
Retained Earnings	$915M
Treasury Stock	$0
Accum. Other Comp. Income	-$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$0
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$25.6B
Total Debt	$2.7B
Net Debt	$2.3B