PRI FY 2018 Earnings Report — Primerica, Inc. Revenue & Financial Results | Market Cap Arena

Primerica, Inc.PRI

FY 2018 Earnings

Reported February 26, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.7B	—	12.5%
Op. Income	$445M	—	$408M	—	9.0%
Gross Margin	87.9%	—	88.8%	—	-0.9pp
Net Margin	17.1%	—	20.7%	—	-3.7pp
EPS (Diluted)	$7.37	—	$7.61	—	-3.2%
Free Cash Flow	$465M	—	$382M	—	21.7%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$230M
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$335M
General & Administrative	$168M
SG&A Expenses	$504M
Other Expenses	-$1.5B
Operating Expenses	-$1.5B
Cost & Expenses	$1.5B
OPERATING INCOME	$445M
Interest Income	$0
Interest Expense	$29M
Other Income/Expenses	-$751M
INCOME BEFORE TAX	$416M
Income Tax Expense	$92M
Net Income from Continuing Ops	$324M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$324M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$12M
EBIT	$1.6B
EBITDA	$1.6B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$230M
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$335M
General & Administrative	$168M
SG&A Expenses	$504M
Other Expenses	-$1.5B
Operating Expenses	-$1.5B
Cost & Expenses	$1.5B
OPERATING INCOME	$445M
Interest Income	$0
Interest Expense	$29M
Other Income/Expenses	-$751M
INCOME BEFORE TAX	$416M
Income Tax Expense	$92M
Net Income from Continuing Ops	$324M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$324M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$12M
EBIT	$1.6B
EBITDA	$1.6B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$324M
Depreciation & Amortization	$12M
Stock-Based Compensation	$17M
Deferred Income Tax	$3M
Other Non-Cash Items	-$201M
Change in Working Capital	$323M
OPERATING CASH FLOW	$478M
Capital Expenditure	-$14M
Acquisitions (Net)	$0
Purchases of Investments	-$636M
Sales/Maturities of Investments	$416M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$233M
Net Debt Issuance	$0
Common Stock Repurchased	-$210M
Common Dividends Paid	-$44M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$261M
FREE CASH FLOW	$465M
Net Change in Cash	-$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$262M
Short-Term Investments	$2.1B
Net Receivables	$0
Inventory	-$510M
Other Current Assets	$775M
TOTAL CURRENT ASSETS	$6.7B
PP&E (Net)	$36M
Goodwill	$0
Intangible Assets	$48M
Long-Term Investments	$970M
Tax Assets	$59M
Other Non-Current Assets	$2.1B
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$12.6B
Account Payables	$314M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$389M
TOTAL CURRENT LIABILITIES	$314M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$164M
Other Non-Current Liabilities	$9.6B
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$11.1B
Common Stock	$427.0K
Additional Paid-In Capital	$0
Retained Earnings	$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$12.6B
Total Debt	$1.3B
Net Debt	$1.1B