WBS FY 2018 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	14.0%
Op. Income	$442M	—	$354M	—	24.8%
Gross Margin	85.8%	—	86.5%	—	-0.8pp
Net Margin	26.9%	—	21.8%	—	5.2pp
EPS (Diluted)	$3.81	—	$2.67	—	42.7%
Free Cash Flow	$436M	—	$416M	—	4.8%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$190M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$416M
SG&A Expenses	$433M
Other Expenses	$273M
Operating Expenses	$706M
Cost & Expenses	$896M
OPERATING INCOME	$442M
Interest Income	$1.1B
Interest Expense	$148M
Other Income/Expenses	$0
INCOME BEFORE TAX	$442M
Income Tax Expense	$81M
Net Income from Continuing Ops	$360M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$360M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$352M
D&A	$39M
EBIT	$442M
EBITDA	$480M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$190M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$17M
General & Administrative	$416M
SG&A Expenses	$433M
Other Expenses	$273M
Operating Expenses	$706M
Cost & Expenses	$896M
OPERATING INCOME	$442M
Interest Income	$1.1B
Interest Expense	$148M
Other Income/Expenses	$0
INCOME BEFORE TAX	$442M
Income Tax Expense	$81M
Net Income from Continuing Ops	$360M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$360M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$352M
D&A	$39M
EBIT	$442M
EBITDA	$480M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$360M
Depreciation & Amortization	$39M
Stock-Based Compensation	$12M
Deferred Income Tax	$9M
Other Non-Cash Items	$97M
Change in Working Capital	-$48M
OPERATING CASH FLOW	$469M
Capital Expenditure	-$33M
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$150M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$115M
Other Financing Activities	$907M
NET CASH FROM FINANCING	$921M
FREE CASH FLOW	$436M
Net Change in Cash	$73M

Balance Sheet

Item	Amount
Cash & Equivalents	$329M
Short-Term Investments	$2.9B
Net Receivables	$499M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$125M
Goodwill	$538M
Intangible Assets	$26M
Long-Term Investments	$22.1B
Tax Assets	$97M
Other Non-Current Assets	$967M
TOTAL NON-CURRENT ASSETS	$23.9B
TOTAL ASSETS	$27.6B
Account Payables	$0
Short-Term Debt	$582M
Deferred Revenue	$0
Other Current Liabilities	$21.9B
TOTAL CURRENT LIABILITIES	$22.7B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$24.7B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$1.8B
Treasury Stock	-$72M
Accum. Other Comp. Income	-$131M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$27.6B
Total Debt	$2.6B
Net Debt	$2.3B