SBCF FY 2024 Earnings Report — Seacoast Banking Corporation of Florida Revenue & Financial Results | Market Cap Arena

Seacoast Banking Corporation of FloridaSBCF

FY 2024 Earnings

Reported February 25, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$809M	—	$768M	—	5.3%
Op. Income	$156M	—	$134M	—	16.1%
Gross Margin	61.6%	—	68.8%	—	-7.2pp
Net Margin	15.0%	—	13.5%	—	1.4pp
EPS (Diluted)	$1.42	—	$1.23	—	15.4%
Free Cash Flow	$176M	—	$140M	—	25.3%

Revenue Flow

Item	Amount
REVENUE	$809M
Cost of Revenue	$311M
GROSS PROFIT	$498M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$199M
SG&A Expenses	$210M
Other Expenses	$133M
Operating Expenses	$342M
Cost & Expenses	$653M
OPERATING INCOME	$156M
Interest Income	$726M
Interest Expense	$294M
Other Income/Expenses	$0
INCOME BEFORE TAX	$156M
Income Tax Expense	$35M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$19M
EBIT	$156M
EBITDA	$175M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$809M
Cost of Revenue	$311M
GROSS PROFIT	$498M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$199M
SG&A Expenses	$210M
Other Expenses	$133M
Operating Expenses	$342M
Cost & Expenses	$653M
OPERATING INCOME	$156M
Interest Income	$726M
Interest Expense	$294M
Other Income/Expenses	$0
INCOME BEFORE TAX	$156M
Income Tax Expense	$35M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$121M
D&A	$19M
EBIT	$156M
EBITDA	$175M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$19M
Stock-Based Compensation	$14M
Deferred Income Tax	$10M
Other Non-Cash Items	$20M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$180M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$994M
Sales/Maturities of Investments	$649M
Other Investing Activities	-$258M
NET CASH FROM INVESTING	-$607M
Net Debt Issuance	$195M
Common Stock Repurchased	-$880.0K
Common Dividends Paid	-$62M
Other Financing Activities	$324M
NET CASH FROM FINANCING	$456M
FREE CASH FLOW	$176M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$480M
Short-Term Investments	$2.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$108M
Goodwill	$732M
Intangible Assets	$72M
Long-Term Investments	$10.8B
Tax Assets	$103M
Other Non-Current Assets	$641M
TOTAL NON-CURRENT ASSETS	$12.5B
TOTAL ASSETS	$15.2B
Account Payables	$0
Short-Term Debt	$232M
Deferred Revenue	$0
Other Current Liabilities	$12.2B
TOTAL CURRENT LIABILITIES	$12.5B
Long-Term Debt	$352M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$167M
TOTAL NON-CURRENT LIABILITIES	$519M
TOTAL LIABILITIES	$13.0B
Common Stock	$9M
Additional Paid-In Capital	$1.8B
Retained Earnings	$527M
Treasury Stock	-$19M
Accum. Other Comp. Income	-$158M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$15.2B
Total Debt	$584M
Net Debt	$104M