WAL Q3 2021 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

Q3 2021 Earnings

Reported November 2, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$567M	$514M	$323M	10.3%	75.4%
Op. Income	$302M	$276M	$167M	9.5%	81.5%
Gross Margin	92.1%	97.4%	89.3%	-5.3pp	2.9pp
Net Margin	41.8%	43.6%	42.0%	-1.8pp	-0.2pp
EPS (Diluted)	$2.28	$2.17	$1.36	5.1%	67.6%
Free Cash Flow	-$2.2B	-$1.2B	$153M	-76.4%	-1511.1%

Revenue Flow

Item	Amount
REVENUE	$567M
Cost of Revenue	$45M
GROSS PROFIT	$522M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$134M
SG&A Expenses	$136M
Other Expenses	$83M
Operating Expenses	$220M
Cost & Expenses	$264M
OPERATING INCOME	$302M
Interest Income	$443M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$302M
Income Tax Expense	$66M
Net Income from Continuing Ops	$237M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$237M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$237M
D&A	$15M
EBIT	$302M
EBITDA	$318M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$567M
Cost of Revenue	$45M
GROSS PROFIT	$522M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$134M
SG&A Expenses	$136M
Other Expenses	$83M
Operating Expenses	$220M
Cost & Expenses	$264M
OPERATING INCOME	$302M
Interest Income	$443M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$302M
Income Tax Expense	$66M
Net Income from Continuing Ops	$237M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$237M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$237M
D&A	$15M
EBIT	$302M
EBITDA	$318M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$237M
Depreciation & Amortization	$15M
Stock-Based Compensation	$8M
Deferred Income Tax	$33M
Other Non-Cash Items	-$2.4B
Change in Working Capital	$8M
OPERATING CASH FLOW	-$2.1B
Capital Expenditure	-$18M
Acquisitions (Net)	$0
Purchases of Investments	-$8.7B
Sales/Maturities of Investments	$411M
Other Investing Activities	$3.9B
NET CASH FROM INVESTING	-$4.4B
Net Debt Issuance	$496M
Common Stock Repurchased	$0
Common Dividends Paid	-$37M
Other Financing Activities	$3.4B
NET CASH FROM FINANCING	$4.1B
FREE CASH FLOW	-$2.2B
Net Change in Cash	-$2.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$918M
Short-Term Investments	$6.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.3B
PP&E (Net)	$267M
Goodwill	$608M
Intangible Assets	$605M
Long-Term Investments	$42.8B
Tax Assets	$11M
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$45.5B
TOTAL ASSETS	$52.8B
Account Payables	$0
Short-Term Debt	$446M
Deferred Revenue	$0
Other Current Liabilities	$45.3B
TOTAL CURRENT LIABILITIES	$45.7B
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$795M
TOTAL NON-CURRENT LIABILITIES	$2.5B
TOTAL LIABILITIES	$48.3B
Common Stock	$1.7B
Additional Paid-In Capital	$0
Retained Earnings	$2.6B
Treasury Stock	-$86M
Accum. Other Comp. Income	$43M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$0
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$52.8B
Total Debt	$2.2B
Net Debt	$1.3B