WAL Q3 2019 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

Q3 2019 Earnings

Reported October 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$329M	$316M	$267M	4.3%	23.2%
Op. Income	$156M	$148M	$119M	5.6%	31.4%
Gross Margin	83.9%	82.5%	86.1%	1.4pp	-2.2pp
Net Margin	38.7%	39.0%	41.6%	-0.3pp	-2.9pp
EPS (Diluted)	$1.24	$1.19	$1.05	4.2%	18.1%
Free Cash Flow	$198M	$173M	$142M	14.5%	39.1%

Revenue Flow

Item	Amount
REVENUE	$329M
Cost of Revenue	$53M
GROSS PROFIT	$276M
R&D Expenses	$0
Selling & Marketing	$842.0K
General & Administrative	$71M
SG&A Expenses	$72M
Other Expenses	$48M
Operating Expenses	$120M
Cost & Expenses	$173M
OPERATING INCOME	$156M
Interest Income	$316M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$156M
Income Tax Expense	$29M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$11M
EBIT	$156M
EBITDA	$167M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$329M
Cost of Revenue	$53M
GROSS PROFIT	$276M
R&D Expenses	$0
Selling & Marketing	$842.0K
General & Administrative	$71M
SG&A Expenses	$72M
Other Expenses	$48M
Operating Expenses	$120M
Cost & Expenses	$173M
OPERATING INCOME	$156M
Interest Income	$316M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$156M
Income Tax Expense	$29M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$11M
EBIT	$156M
EBITDA	$167M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$127M
Depreciation & Amortization	$11M
Stock-Based Compensation	$6M
Deferred Income Tax	$3M
Other Non-Cash Items	$10M
Change in Working Capital	$47M
OPERATING CASH FLOW	$204M
Capital Expenditure	-$6M
Acquisitions (Net)	-$2M
Purchases of Investments	-$727M
Sales/Maturities of Investments	$386M
Other Investing Activities	-$982M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$1M
Common Stock Repurchased	-$44M
Common Dividends Paid	-$26M
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$931M
FREE CASH FLOW	$198M
Net Change in Cash	-$196M

Balance Sheet

Item	Amount
Cash & Equivalents	$872M
Short-Term Investments	$3.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$200M
Goodwill	$290M
Intangible Assets	$8M
Long-Term Investments	$21.2B
Tax Assets	$4M
Other Non-Current Assets	$204M
TOTAL NON-CURRENT ASSETS	$21.9B
TOTAL ASSETS	$26.3B
Account Payables	$0
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	$22.4B
TOTAL CURRENT LIABILITIES	$22.5B
Long-Term Debt	$389M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$477M
TOTAL NON-CURRENT LIABILITIES	$945M
TOTAL LIABILITIES	$23.4B
Common Stock	$10.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$1.6B
Treasury Stock	-$63M
Accum. Other Comp. Income	$36M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$26.3B
Total Debt	$484M
Net Debt	-$388M