WBS Q3 2016 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

Q3 2016 Earnings

Reported November 7, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$272M	$268M	—	1.7%	—
Op. Income	$76M	$75M	—	1.4%	—
Gross Margin	85.4%	85.2%	—	0.2pp	—
Net Margin	19.0%	18.9%	—	0.1pp	—
EPS (Diluted)	$0.54	$0.53	—	1.9%	—
Free Cash Flow	$78M	$77M	—	2.0%	—

Revenue Flow

Item	Amount
REVENUE	$272M
Cost of Revenue	$40M
GROSS PROFIT	$232M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$89M
SG&A Expenses	$94M
Other Expenses	$62M
Operating Expenses	$156M
Cost & Expenses	$196M
OPERATING INCOME	$76M
Interest Income	$206M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$24M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$9M
EBIT	$76M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$272M
Cost of Revenue	$40M
GROSS PROFIT	$232M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$89M
SG&A Expenses	$94M
Other Expenses	$62M
Operating Expenses	$156M
Cost & Expenses	$196M
OPERATING INCOME	$76M
Interest Income	$206M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$24M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$9M
EBIT	$76M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$9M
Stock-Based Compensation	$3M
Deferred Income Tax	$4M
Other Non-Cash Items	$15M
Change in Working Capital	$6M
OPERATING CASH FLOW	$89M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$514M
Sales/Maturities of Investments	$378M
Other Investing Activities	-$341M
NET CASH FROM INVESTING	-$488M
Net Debt Issuance	$125M
Common Stock Repurchased	-$209.0K
Common Dividends Paid	-$23M
Other Financing Activities	$274M
NET CASH FROM FINANCING	$374M
FREE CASH FLOW	$78M
Net Change in Cash	-$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$222M
Short-Term Investments	$3.0B
Net Receivables	$616M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$137M
Goodwill	$538M
Intangible Assets	$35M
Long-Term Investments	$19.9B
Tax Assets	$73M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$21.8B
TOTAL ASSETS	$25.6B
Account Payables	$0
Short-Term Debt	$801M
Deferred Revenue	$0
Other Current Liabilities	$19.2B
TOTAL CURRENT LIABILITIES	$20.3B
Long-Term Debt	$2.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$23.1B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$1.4B
Treasury Stock	-$77M
Accum. Other Comp. Income	-$53M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$25.6B
Total Debt	$3.6B
Net Debt	$3.4B