TRMK FY 2013 Earnings Report — Trustmark Corporation Revenue & Financial Results | Market Cap Arena

Trustmark CorporationTRMK

FY 2013 Earnings

Reported February 24, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$532M	—	$485M	—	9.7%
Op. Income	$154M	—	$159M	—	-3.4%
Gross Margin	96.5%	—	91.1%	—	5.4pp
Net Margin	22.0%	—	24.2%	—	-2.2pp
EPS (Diluted)	$1.75	—	$1.81	—	-3.3%
Free Cash Flow	$285M	—	$95M	—	199.9%

Revenue Flow

Item	Amount
REVENUE	$532M
Cost of Revenue	$18M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$231M
SG&A Expenses	$231M
Other Expenses	$128M
Operating Expenses	$359M
Cost & Expenses	$378M
OPERATING INCOME	$154M
Interest Income	$414M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$37M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$117M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$117M
D&A	$37M
EBIT	$154M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$532M
Cost of Revenue	$18M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$231M
SG&A Expenses	$231M
Other Expenses	$128M
Operating Expenses	$359M
Cost & Expenses	$378M
OPERATING INCOME	$154M
Interest Income	$414M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$154M
Income Tax Expense	$37M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$117M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$117M
D&A	$37M
EBIT	$154M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$117M
Depreciation & Amortization	$37M
Stock-Based Compensation	$0
Deferred Income Tax	$21M
Other Non-Cash Items	$93M
Change in Working Capital	$33M
OPERATING CASH FLOW	$301M
Capital Expenditure	-$16M
Acquisitions (Net)	$89M
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$32M
NET CASH FROM INVESTING	-$259M
Net Debt Issuance	-$54M
Common Stock Repurchased	$0
Common Dividends Paid	-$62M
Other Financing Activities	$189M
NET CASH FROM FINANCING	$72M
FREE CASH FLOW	$285M
Net Change in Cash	$114M

Balance Sheet

Item	Amount
Cash & Equivalents	$346M
Short-Term Investments	$2.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$207M
Goodwill	$373M
Intangible Assets	$110M
Long-Term Investments	$7.8B
Tax Assets	$0
Other Non-Current Assets	$716M
TOTAL NON-CURRENT ASSETS	$9.3B
TOTAL ASSETS	$11.8B
Account Payables	$0
Short-Term Debt	$318M
Deferred Revenue	$0
Other Current Liabilities	$9.9B
TOTAL CURRENT LIABILITIES	$10.2B
Long-Term Debt	$120M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$137M
TOTAL NON-CURRENT LIABILITIES	$258M
TOTAL LIABILITIES	$10.4B
Common Stock	$14M
Additional Paid-In Capital	$350M
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$44M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$11.8B
Total Debt	$438M
Net Debt	$92M