SBSI FY 2017 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2017 Earnings

Reported February 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$221M	—	$205M	—	7.7%
Op. Income	$70M	—	$60M	—	18.0%
Gross Margin	78.2%	—	80.9%	—	-2.7pp
Net Margin	24.6%	—	24.1%	—	0.5pp
EPS (Diluted)	$1.81	—	$1.81	—	0.0%
Free Cash Flow	$82M	—	$80M	—	2.4%

Revenue Flow

Item	Amount
REVENUE	$221M
Cost of Revenue	$48M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$67M
SG&A Expenses	$70M
Other Expenses	$33M
Operating Expenses	$102M
Cost & Expenses	$151M
OPERATING INCOME	$70M
Interest Income	$187M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$16M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$10M
EBIT	$70M
EBITDA	$81M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$221M
Cost of Revenue	$48M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$67M
SG&A Expenses	$70M
Other Expenses	$33M
Operating Expenses	$102M
Cost & Expenses	$151M
OPERATING INCOME	$70M
Interest Income	$187M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$16M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$10M
EBIT	$70M
EBITDA	$81M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$54M
Depreciation & Amortization	$10M
Stock-Based Compensation	$2M
Deferred Income Tax	$4M
Other Non-Cash Items	$26M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$92M
Capital Expenditure	-$10M
Acquisitions (Net)	$92M
Purchases of Investments	-$626M
Sales/Maturities of Investments	$827M
Other Investing Activities	-$111M
NET CASH FROM INVESTING	$173M
Net Debt Issuance	-$290M
Common Stock Repurchased	$0
Common Dividends Paid	-$32M
Other Financing Activities	$85M
NET CASH FROM FINANCING	-$235M
FREE CASH FLOW	$82M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$191M
Short-Term Investments	$1.5B
Net Receivables	$28M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$134M
Goodwill	$201M
Intangible Assets	$23M
Long-Term Investments	$4.2B
Tax Assets	$12M
Other Non-Current Assets	$179M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$6.5B
Account Payables	$0
Short-Term Debt	$9M
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$43M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$5.7B
Common Stock	$47M
Additional Paid-In Capital	$757M
Retained Earnings	$33M
Treasury Stock	-$47M
Accum. Other Comp. Income	-$36M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$754M
Minority Interest	$0
TOTAL EQUITY	$754M
TOTAL LIABILITIES & EQUITY	$6.5B
Total Debt	$1.2B
Net Debt	$985M