WAL Q1 2021 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

Q1 2021 Earnings

Reported April 30, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$354M	$353M	$312M	0.3%	13.7%
Op. Income	$234M	$241M	$102M	-2.6%	128.9%
Gross Margin	104.4%	104.9%	71.3%	-0.5pp	33.1pp
Net Margin	54.4%	54.8%	26.9%	-0.5pp	27.4pp
EPS (Diluted)	$1.90	$1.93	$0.83	-1.6%	128.9%
Free Cash Flow	$90M	$226M	$113M	-60.4%	-20.3%

Revenue Flow

Item	Amount
REVENUE	$354M
Cost of Revenue	-$16M
GROSS PROFIT	$370M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$84M
SG&A Expenses	$85M
Other Expenses	$50M
Operating Expenses	$135M
Cost & Expenses	$120M
OPERATING INCOME	$234M
Interest Income	$334M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$234M
Income Tax Expense	$42M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$9M
EBIT	$234M
EBITDA	$243M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$354M
Cost of Revenue	-$16M
GROSS PROFIT	$370M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$84M
SG&A Expenses	$85M
Other Expenses	$50M
Operating Expenses	$135M
Cost & Expenses	$120M
OPERATING INCOME	$234M
Interest Income	$334M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$234M
Income Tax Expense	$42M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$9M
EBIT	$234M
EBITDA	$243M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$193M
Depreciation & Amortization	$9M
Stock-Based Compensation	$8M
Deferred Income Tax	$5M
Other Non-Cash Items	-$25M
Change in Working Capital	-$90M
OPERATING CASH FLOW	$100M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$2.9B
Sales/Maturities of Investments	$495M
Other Investing Activities	-$1.6B
NET CASH FROM INVESTING	-$4.1B
Net Debt Issuance	-$100.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	$6.4B
NET CASH FROM FINANCING	$6.6B
FREE CASH FLOW	$90M
Net Change in Cash	$2.7B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.3B
Short-Term Investments	$6.9B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.3B
PP&E (Net)	$215M
Goodwill	$298M
Intangible Assets	$0
Long-Term Investments	$29.8B
Tax Assets	$50M
Other Non-Current Assets	$714M
TOTAL NON-CURRENT ASSETS	$31.1B
TOTAL ASSETS	$43.4B
Account Payables	$0
Short-Term Debt	$21M
Deferred Revenue	$0
Other Current Liabilities	$38.4B
TOTAL CURRENT LIABILITIES	$38.4B
Long-Term Debt	$544M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$642M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$39.7B
Common Stock	$0
Additional Paid-In Capital	$1.6B
Retained Earnings	$2.2B
Treasury Stock	-$84M
Accum. Other Comp. Income	$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.7B
Minority Interest	$0
TOTAL EQUITY	$3.7B
TOTAL LIABILITIES & EQUITY	$43.4B
Total Debt	$649M
Net Debt	-$4.7B