WBS FY 2019 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

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	$1.4B	—	$1.3B	—	7.6%
Op. Income	$487M	—	$442M	—	10.2%
Gross Margin	83.5%	—	85.8%	—	-2.2pp
Net Margin	26.6%	—	26.9%	—	-0.4pp
EPS (Diluted)	$4.06	—	$3.81	—	6.6%
Free Cash Flow	$278M	—	$436M	—	-36.3%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$237M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$413M
SG&A Expenses	$430M
Other Expenses	$286M
Operating Expenses	$716M
Cost & Expenses	$953M
OPERATING INCOME	$487M
Interest Income	$1.2B
Interest Expense	$199M
Other Income/Expenses	$0
INCOME BEFORE TAX	$487M
Income Tax Expense	$104M
Net Income from Continuing Ops	$383M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$383M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$373M
D&A	$45M
EBIT	$487M
EBITDA	$532M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$237M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$413M
SG&A Expenses	$430M
Other Expenses	$286M
Operating Expenses	$716M
Cost & Expenses	$953M
OPERATING INCOME	$487M
Interest Income	$1.2B
Interest Expense	$199M
Other Income/Expenses	$0
INCOME BEFORE TAX	$487M
Income Tax Expense	$104M
Net Income from Continuing Ops	$383M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$383M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$373M
D&A	$45M
EBIT	$487M
EBITDA	$532M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$383M
Depreciation & Amortization	$45M
Stock-Based Compensation	$13M
Deferred Income Tax	$927.0K
Other Non-Cash Items	$60M
Change in Working Capital	-$197M
OPERATING CASH FLOW	$304M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$1.6B
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$422M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$141M
Other Financing Activities	$1.9B
NET CASH FROM FINANCING	$2.2B
FREE CASH FLOW	$278M
Net Change in Cash	-$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$258M
Short-Term Investments	$2.9B
Net Receivables	$533M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$270M
Goodwill	$538M
Intangible Assets	$22M
Long-Term Investments	$24.6B
Tax Assets	$62M
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$26.7B
TOTAL ASSETS	$30.4B
Account Payables	$0
Short-Term Debt	$1.0B
Deferred Revenue	$0
Other Current Liabilities	$23.3B
TOTAL CURRENT LIABILITIES	$24.5B
Long-Term Debt	$2.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$27.2B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$2.1B
Treasury Stock	-$77M
Accum. Other Comp. Income	-$36M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$0
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$30.4B
Total Debt	$3.7B
Net Debt	$3.4B