SSB FY 2018 Earnings Report — SouthState Corporation Revenue & Financial Results | Market Cap Arena

SouthState CorporationSSB

FY 2018 Earnings

Reported February 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$709M	—	$561M	—	26.3%
Op. Income	$224M	—	$169M	—	32.8%
Gross Margin	90.4%	—	94.9%	—	-4.4pp
Net Margin	25.2%	—	15.6%	—	9.6pp
EPS (Diluted)	$4.86	—	$2.93	—	65.9%
Free Cash Flow	$269M	—	$183M	—	47.3%

Revenue Flow

Item	Amount
REVENUE	$709M
Cost of Revenue	$68M
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$295M
SG&A Expenses	$300M
Other Expenses	$117M
Operating Expenses	$417M
Cost & Expenses	$485M
OPERATING INCOME	$224M
Interest Income	$567M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$224M
Income Tax Expense	$45M
Net Income from Continuing Ops	$179M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$179M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$179M
D&A	$36M
EBIT	$224M
EBITDA	$260M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$709M
Cost of Revenue	$68M
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$295M
SG&A Expenses	$300M
Other Expenses	$117M
Operating Expenses	$417M
Cost & Expenses	$485M
OPERATING INCOME	$224M
Interest Income	$567M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$224M
Income Tax Expense	$45M
Net Income from Continuing Ops	$179M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$179M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$179M
D&A	$36M
EBIT	$224M
EBITDA	$260M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$179M
Depreciation & Amortization	$36M
Stock-Based Compensation	$9M
Deferred Income Tax	$15M
Other Non-Cash Items	$37M
Change in Working Capital	$9M
OPERATING CASH FLOW	$284M
Capital Expenditure	-$15M
Acquisitions (Net)	$0
Purchases of Investments	-$210M
Sales/Maturities of Investments	$316M
Other Investing Activities	-$374M
NET CASH FROM INVESTING	-$282M
Net Debt Issuance	$50M
Common Stock Repurchased	-$71M
Common Dividends Paid	-$51M
Other Financing Activities	$100M
NET CASH FROM FINANCING	$30M
FREE CASH FLOW	$269M
Net Change in Cash	$31M

Balance Sheet

Item	Amount
Cash & Equivalents	$376M
Short-Term Investments	$1.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$241M
Goodwill	$1.0B
Intangible Assets	$98M
Long-Term Investments	$11.0B
Tax Assets	$37M
Other Non-Current Assets	$394M
TOTAL NON-CURRENT ASSETS	$12.8B
TOTAL ASSETS	$14.7B
Account Payables	$0
Short-Term Debt	$421M
Deferred Revenue	$0
Other Current Liabilities	$11.6B
TOTAL CURRENT LIABILITIES	$12.1B
Long-Term Debt	$106M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$137M
TOTAL NON-CURRENT LIABILITIES	$242M
TOTAL LIABILITIES	$12.3B
Common Stock	$90M
Additional Paid-In Capital	$1.8B
Retained Earnings	$551M
Treasury Stock	$0
Accum. Other Comp. Income	-$25M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$0
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$14.7B
Total Debt	$526M
Net Debt	$150M