SBCF FY 2021 Earnings Report — Seacoast Banking Corporation of Florida Revenue & Financial Results | Market Cap Arena

Seacoast Banking Corporation of FloridaSBCF

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$355M	—	$349M	—	1.8%
Op. Income	$159M	—	$101M	—	57.8%
Gross Margin	100.3%	—	82.0%	—	18.3pp
Net Margin	35.0%	—	22.3%	—	12.7pp
EPS (Diluted)	$2.18	—	$1.44	—	51.4%
Free Cash Flow	$150M	—	$59M	—	154.4%

Revenue Flow

Item	Amount
REVENUE	$355M
Cost of Revenue	-$1M
GROSS PROFIT	$356M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$118M
SG&A Expenses	$122M
Other Expenses	$75M
Operating Expenses	$197M
Cost & Expenses	$196M
OPERATING INCOME	$159M
Interest Income	$284M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$159M
Income Tax Expense	$34M
Net Income from Continuing Ops	$124M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$124M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$124M
D&A	-$4M
EBIT	$159M
EBITDA	$155M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$355M
Cost of Revenue	-$1M
GROSS PROFIT	$356M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$118M
SG&A Expenses	$122M
Other Expenses	$75M
Operating Expenses	$197M
Cost & Expenses	$196M
OPERATING INCOME	$159M
Interest Income	$284M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$159M
Income Tax Expense	$34M
Net Income from Continuing Ops	$124M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$124M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$124M
D&A	-$4M
EBIT	$159M
EBITDA	$155M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$124M
Depreciation & Amortization	-$4M
Stock-Based Compensation	$9M
Deferred Income Tax	$4M
Other Non-Cash Items	$35M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$155M
Capital Expenditure	-$4M
Acquisitions (Net)	$98M
Purchases of Investments	-$1.5B
Sales/Maturities of Investments	$764M
Other Investing Activities	$252M
NET CASH FROM INVESTING	-$413M
Net Debt Issuance	-$33M
Common Stock Repurchased	$0
Common Dividends Paid	-$23M
Other Financing Activities	$647M
NET CASH FROM FINANCING	$592M
FREE CASH FLOW	$150M
Net Change in Cash	$334M

Balance Sheet

Item	Amount
Cash & Equivalents	$738M
Short-Term Investments	$1.6B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$72M
Goodwill	$252M
Intangible Assets	$15M
Long-Term Investments	$6.5B
Tax Assets	$27M
Other Non-Current Assets	$421M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$9.7B
Account Payables	$0
Short-Term Debt	$122M
Deferred Revenue	$0
Other Current Liabilities	$8.1B
TOTAL CURRENT LIABILITIES	$8.2B
Long-Term Debt	$72M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$110M
TOTAL NON-CURRENT LIABILITIES	$182M
TOTAL LIABILITIES	$8.4B
Common Stock	$6M
Additional Paid-In Capital	$964M
Retained Earnings	$359M
Treasury Stock	-$11M
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$9.7B
Total Debt	$193M
Net Debt	-$545M