SBCF FY 2019 Earnings Report — Seacoast Banking Corporation of Florida Revenue & Financial Results | Market Cap Arena

Seacoast Banking Corporation of FloridaSBCF

FY 2019 Earnings

Reported February 27, 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	$347M	—	$291M	—	18.9%
Op. Income	$129M	—	$88M	—	46.9%
Gross Margin	83.5%	—	85.7%	—	-2.2pp
Net Margin	28.5%	—	23.1%	—	5.4pp
EPS (Diluted)	$1.90	—	$1.38	—	37.7%
Free Cash Flow	$115M	—	$126M	—	-8.3%

Revenue Flow

Item	Amount
REVENUE	$347M
Cost of Revenue	$57M
GROSS PROFIT	$289M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$88M
SG&A Expenses	$93M
Other Expenses	$68M
Operating Expenses	$161M
Cost & Expenses	$218M
OPERATING INCOME	$129M
Interest Income	$290M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$129M
Income Tax Expense	$30M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$9M
EBIT	$129M
EBITDA	$137M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$347M
Cost of Revenue	$57M
GROSS PROFIT	$289M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$88M
SG&A Expenses	$93M
Other Expenses	$68M
Operating Expenses	$161M
Cost & Expenses	$218M
OPERATING INCOME	$129M
Interest Income	$290M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$129M
Income Tax Expense	$30M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$9M
EBIT	$129M
EBITDA	$137M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	$9M
Stock-Based Compensation	$7M
Deferred Income Tax	$7M
Other Non-Cash Items	$6M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$118M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$309M
Sales/Maturities of Investments	$347M
Other Investing Activities	-$356M
NET CASH FROM INVESTING	-$321M
Net Debt Issuance	-$65M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$277M
NET CASH FROM FINANCING	$212M
FREE CASH FLOW	$115M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$128M
Short-Term Investments	$947M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$67M
Goodwill	$205M
Intangible Assets	$20M
Long-Term Investments	$5.5B
Tax Assets	$16M
Other Non-Current Assets	$280M
TOTAL NON-CURRENT ASSETS	$6.0B
TOTAL ASSETS	$7.1B
Account Payables	$0
Short-Term Debt	$86M
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$386M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$66M
TOTAL NON-CURRENT LIABILITIES	$452M
TOTAL LIABILITIES	$6.1B
Common Stock	$5M
Additional Paid-In Capital	$786M
Retained Earnings	$196M
Treasury Stock	-$6M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$986M
Minority Interest	$0
TOTAL EQUITY	$986M
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$472M
Net Debt	$344M