WBS FY 2022 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2022 Earnings

Reported March 10, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.7B	—	$1.3B	—	115.3%
Op. Income	$798M	—	$534M	—	49.5%
Gross Margin	80.5%	—	101.0%	—	-20.5pp
Net Margin	23.7%	—	32.3%	—	-8.7pp
EPS (Diluted)	$3.72	—	$4.42	—	-15.8%
Free Cash Flow	$1.3B	—	$672M	—	94.5%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$531M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$671M
SG&A Expenses	$687M
Other Expenses	$707M
Operating Expenses	$1.4B
Cost & Expenses	$1.9B
OPERATING INCOME	$798M
Interest Income	$2.3B
Interest Expense	$250M
Other Income/Expenses	$0
INCOME BEFORE TAX	$798M
Income Tax Expense	$154M
Net Income from Continuing Ops	$644M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$644M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$623M
D&A	$82M
EBIT	$798M
EBITDA	$880M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$531M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$671M
SG&A Expenses	$687M
Other Expenses	$707M
Operating Expenses	$1.4B
Cost & Expenses	$1.9B
OPERATING INCOME	$798M
Interest Income	$2.3B
Interest Expense	$250M
Other Income/Expenses	$0
INCOME BEFORE TAX	$798M
Income Tax Expense	$154M
Net Income from Continuing Ops	$644M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$644M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$623M
D&A	$82M
EBIT	$798M
EBITDA	$880M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$644M
Depreciation & Amortization	$82M
Stock-Based Compensation	$54M
Deferred Income Tax	-$70M
Other Non-Cash Items	$373M
Change in Working Capital	$252M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$29M
Acquisitions (Net)	$460M
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$7.0B
NET CASH FROM INVESTING	-$7.2B
Net Debt Issuance	$5.4B
Common Stock Repurchased	-$322M
Common Dividends Paid	-$248M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$6.2B
FREE CASH FLOW	$1.3B
Net Change in Cash	$378M

Balance Sheet

Item	Amount
Cash & Equivalents	$840M
Short-Term Investments	$7.9B
Net Receivables	$1.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.3B
PP&E (Net)	$430M
Goodwill	$2.5B
Intangible Assets	$199M
Long-Term Investments	$54.1B
Tax Assets	$372M
Other Non-Current Assets	$3.3B
TOTAL NON-CURRENT ASSETS	$60.9B
TOTAL ASSETS	$71.3B
Account Payables	$0
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$54.1B
TOTAL CURRENT LIABILITIES	$56.7B
Long-Term Debt	$6.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$6.5B
TOTAL LIABILITIES	$63.2B
Common Stock	$2M
Additional Paid-In Capital	$6.2B
Retained Earnings	$2.7B
Treasury Stock	-$432M
Accum. Other Comp. Income	-$685M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.1B
Minority Interest	$0
TOTAL EQUITY	$8.1B
TOTAL LIABILITIES & EQUITY	$71.3B
Total Debt	$7.7B
Net Debt	$6.8B