WBS Q4 2016 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

Q4 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$282M	$272M	—	3.6%	—
Op. Income	$82M	$76M	—	6.9%	—
Gross Margin	86.3%	85.4%	—	0.9pp	—
Net Margin	20.4%	19.0%	—	1.4pp	—
EPS (Diluted)	$0.60	$0.54	—	11.1%	—
Free Cash Flow	$202M	$78M	—	158.1%	—

Revenue Flow

Item	Amount
REVENUE	$282M
Cost of Revenue	$39M
GROSS PROFIT	$243M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$94M
SG&A Expenses	$100M
Other Expenses	$62M
Operating Expenses	$162M
Cost & Expenses	$201M
OPERATING INCOME	$82M
Interest Income	$211M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$24M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$9M
EBIT	$82M
EBITDA	$91M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$282M
Cost of Revenue	$39M
GROSS PROFIT	$243M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$94M
SG&A Expenses	$100M
Other Expenses	$62M
Operating Expenses	$162M
Cost & Expenses	$201M
OPERATING INCOME	$82M
Interest Income	$211M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$24M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$55M
D&A	$9M
EBIT	$82M
EBITDA	$91M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$58M
Depreciation & Amortization	$9M
Stock-Based Compensation	$3M
Deferred Income Tax	$3M
Other Non-Cash Items	$26M
Change in Working Capital	$112M
OPERATING CASH FLOW	$211M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$792M
Sales/Maturities of Investments	$521M
Other Investing Activities	-$431M
NET CASH FROM INVESTING	-$711M
Net Debt Issuance	$255M
Common Stock Repurchased	$0
Common Dividends Paid	-$23M
Other Financing Activities	$261M
NET CASH FROM FINANCING	$491M
FREE CASH FLOW	$202M
Net Change in Cash	-$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$220M
Short-Term Investments	$3.0B
Net Receivables	$630M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$137M
Goodwill	$538M
Intangible Assets	$34M
Long-Term Investments	$20.5B
Tax Assets	$84M
Other Non-Current Assets	$965M
TOTAL NON-CURRENT ASSETS	$22.2B
TOTAL ASSETS	$26.1B
Account Payables	$0
Short-Term Debt	$950M
Deferred Revenue	$0
Other Current Liabilities	$19.3B
TOTAL CURRENT LIABILITIES	$20.5B
Long-Term Debt	$3.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$23.5B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$1.4B
Treasury Stock	-$71M
Accum. Other Comp. Income	-$77M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$26.1B
Total Debt	$4.0B
Net Debt	$3.8B