TRMK FY 2014 Earnings Report — Trustmark Corporation Revenue & Financial Results | Market Cap Arena

Trustmark CorporationTRMK

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$542M	—	$532M	—	2.0%
Op. Income	$162M	—	$154M	—	5.3%
Gross Margin	94.7%	—	96.5%	—	-1.9pp
Net Margin	22.8%	—	22.0%	—	0.8pp
EPS (Diluted)	$1.83	—	$1.75	—	4.6%
Free Cash Flow	$199M	—	$285M	—	-30.3%

Revenue Flow

Item	Amount
REVENUE	$542M
Cost of Revenue	$29M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$237M
SG&A Expenses	$237M
Other Expenses	$114M
Operating Expenses	$351M
Cost & Expenses	$380M
OPERATING INCOME	$162M
Interest Income	$427M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$162M
Income Tax Expense	$39M
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	$36M
EBIT	$162M
EBITDA	$198M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$542M
Cost of Revenue	$29M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$237M
SG&A Expenses	$237M
Other Expenses	$114M
Operating Expenses	$351M
Cost & Expenses	$380M
OPERATING INCOME	$162M
Interest Income	$427M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$162M
Income Tax Expense	$39M
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	$36M
EBIT	$162M
EBITDA	$198M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$124M
Depreciation & Amortization	$36M
Stock-Based Compensation	$0
Deferred Income Tax	$19M
Other Non-Cash Items	$46M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$211M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$727M
Sales/Maturities of Investments	$555M
Other Investing Activities	-$372M
NET CASH FROM INVESTING	-$556M
Net Debt Issuance	$349M
Common Stock Repurchased	$0
Common Dividends Paid	-$62M
Other Financing Activities	$29M
NET CASH FROM FINANCING	$315M
FREE CASH FLOW	$199M
Net Change in Cash	-$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$316M
Short-Term Investments	$2.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$201M
Goodwill	$366M
Intangible Assets	$98M
Long-Term Investments	$8.2B
Tax Assets	$0
Other Non-Current Assets	$676M
TOTAL NON-CURRENT ASSETS	$9.6B
TOTAL ASSETS	$12.3B
Account Payables	$0
Short-Term Debt	$869M
Deferred Revenue	$0
Other Current Liabilities	$9.7B
TOTAL CURRENT LIABILITIES	$10.6B
Long-Term Debt	$113M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$151M
TOTAL NON-CURRENT LIABILITIES	$264M
TOTAL LIABILITIES	$10.8B
Common Stock	$14M
Additional Paid-In Capital	$356M
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$12.3B
Total Debt	$982M
Net Debt	$666M