SBCF FY 2020 Earnings Report — Seacoast Banking Corporation of Florida Revenue & Financial Results | Market Cap Arena

Seacoast Banking Corporation of FloridaSBCF

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$349M	—	$347M	—	0.6%
Op. Income	$101M	—	$129M	—	-21.8%
Gross Margin	82.0%	—	83.5%	—	-1.5pp
Net Margin	22.3%	—	28.5%	—	-6.2pp
EPS (Diluted)	$1.44	—	$1.90	—	-24.2%
Free Cash Flow	$59M	—	$115M	—	-48.7%

Revenue Flow

Item	Amount
REVENUE	$349M
Cost of Revenue	$63M
GROSS PROFIT	$286M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$105M
SG&A Expenses	$110M
Other Expenses	$75M
Operating Expenses	$185M
Cost & Expenses	$248M
OPERATING INCOME	$101M
Interest Income	$287M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$101M
Income Tax Expense	$23M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$2M
EBIT	$101M
EBITDA	$102M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$349M
Cost of Revenue	$63M
GROSS PROFIT	$286M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$105M
SG&A Expenses	$110M
Other Expenses	$75M
Operating Expenses	$185M
Cost & Expenses	$248M
OPERATING INCOME	$101M
Interest Income	$287M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$101M
Income Tax Expense	$23M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$2M
EBIT	$101M
EBITDA	$102M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$78M
Depreciation & Amortization	$2M
Stock-Based Compensation	$7M
Deferred Income Tax	-$5M
Other Non-Cash Items	-$4M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$61M
Capital Expenditure	-$2M
Acquisitions (Net)	$72M
Purchases of Investments	-$830M
Sales/Maturities of Investments	$477M
Other Investing Activities	-$59M
NET CASH FROM INVESTING	-$343M
Net Debt Issuance	-$315M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$876M
NET CASH FROM FINANCING	$561M
FREE CASH FLOW	$59M
Net Change in Cash	$280M

Balance Sheet

Item	Amount
Cash & Equivalents	$405M
Short-Term Investments	$1.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$75M
Goodwill	$221M
Intangible Assets	$17M
Long-Term Investments	$5.9B
Tax Assets	$24M
Other Non-Current Assets	$307M
TOTAL NON-CURRENT ASSETS	$6.5B
TOTAL ASSETS	$8.3B
Account Payables	$0
Short-Term Debt	$120M
Deferred Revenue	$0
Other Current Liabilities	$6.9B
TOTAL CURRENT LIABILITIES	$7.1B
Long-Term Debt	$71M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$88M
TOTAL NON-CURRENT LIABILITIES	$160M
TOTAL LIABILITIES	$7.2B
Common Stock	$6M
Additional Paid-In Capital	$856M
Retained Earnings	$257M
Treasury Stock	-$8M
Accum. Other Comp. Income	$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.3B
Total Debt	$191M
Net Debt	-$214M