TRST FY 2019 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$211M	—	$199M	—	5.9%
Op. Income	$77M	—	$80M	—	-3.9%
Gross Margin	82.8%	—	89.1%	—	-6.4pp
Net Margin	27.4%	—	30.9%	—	-3.4pp
EPS (Diluted)	$2.98	—	$3.18	—	-6.3%
Free Cash Flow	$60M	—	$64M	—	-6.4%

Revenue Flow

Item	Amount
REVENUE	$211M
Cost of Revenue	$36M
GROSS PROFIT	$174M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$48M
SG&A Expenses	$51M
Other Expenses	$47M
Operating Expenses	$98M
Cost & Expenses	$134M
OPERATING INCOME	$77M
Interest Income	$192M
Interest Expense	$36M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$19M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$10M
EBIT	$77M
EBITDA	$86M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$211M
Cost of Revenue	$36M
GROSS PROFIT	$174M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$48M
SG&A Expenses	$51M
Other Expenses	$47M
Operating Expenses	$98M
Cost & Expenses	$134M
OPERATING INCOME	$77M
Interest Income	$192M
Interest Expense	$36M
Other Income/Expenses	$0
INCOME BEFORE TAX	$77M
Income Tax Expense	$19M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$10M
EBIT	$77M
EBITDA	$86M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$58M
Depreciation & Amortization	$10M
Stock-Based Compensation	$5.0K
Deferred Income Tax	$1M
Other Non-Cash Items	$2M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$64M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$263M
Sales/Maturities of Investments	$206M
Other Investing Activities	-$188M
NET CASH FROM INVESTING	-$249M
Net Debt Issuance	-$13M
Common Stock Repurchased	-$35.0K
Common Dividends Paid	-$26M
Other Financing Activities	$176M
NET CASH FROM FINANCING	$138M
FREE CASH FLOW	$60M
Net Change in Cash	-$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$48M
Short-Term Investments	$574M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$622M
PP&E (Net)	$86M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.0B
Tax Assets	$0
Other Non-Current Assets	$477M
TOTAL NON-CURRENT ASSETS	$4.6B
TOTAL ASSETS	$5.2B
Account Payables	$0
Short-Term Debt	$149M
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$57M
TOTAL LIABILITIES	$4.7B
Common Stock	$100M
Additional Paid-In Capital	$176M
Retained Earnings	$288M
Treasury Stock	-$31M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$538M
Minority Interest	$0
TOTAL EQUITY	$538M
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$205M
Net Debt	$157M