WNEB FY 2023 Earnings Report — Western New England Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Western New England Bancorp, Inc.WNEB

FY 2023 Earnings

Reported March 8, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$112M	—	$99M	—	12.9%
Op. Income	$20M	—	$35M	—	-43.4%
Gross Margin	69.6%	—	92.5%	—	-23.0pp
Net Margin	13.5%	—	26.1%	—	-12.6pp
EPS (Diluted)	$0.70	—	$1.18	—	-40.7%
Free Cash Flow	$12M	—	$36M	—	-66.7%

Revenue Flow

Item	Amount
REVENUE	$112M
Cost of Revenue	$34M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$34M
SG&A Expenses	$35M
Other Expenses	$23M
Operating Expenses	$58M
Cost & Expenses	$92M
OPERATING INCOME	$20M
Interest Income	$101M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$20M
Income Tax Expense	$5M
Net Income from Continuing Ops	$15M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$15M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$15M
D&A	$3M
EBIT	$20M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$112M
Cost of Revenue	$34M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$34M
SG&A Expenses	$35M
Other Expenses	$23M
Operating Expenses	$58M
Cost & Expenses	$92M
OPERATING INCOME	$20M
Interest Income	$101M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$20M
Income Tax Expense	$5M
Net Income from Continuing Ops	$15M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$15M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$15M
D&A	$3M
EBIT	$20M
EBITDA	$22M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$15M
Depreciation & Amortization	$3M
Stock-Based Compensation	$2M
Deferred Income Tax	$191.0K
Other Non-Cash Items	$176.0K
Change in Working Capital	-$5M
OPERATING CASH FLOW	$15M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$8M
Sales/Maturities of Investments	$32M
Other Investing Activities	-$35M
NET CASH FROM INVESTING	-$14M
Net Debt Issuance	$94M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$6M
Other Financing Activities	-$86M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$12M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$26M
Short-Term Investments	$137M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$171M
PP&E (Net)	$26M
Goodwill	$12M
Intangible Assets	$2M
Long-Term Investments	$2.2B
Tax Assets	$14M
Other Non-Current Assets	$109M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$2.6B
Account Payables	$0
Short-Term Debt	$16M
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$140M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$27M
TOTAL NON-CURRENT LIABILITIES	$167M
TOTAL LIABILITIES	$2.3B
Common Stock	$217.0K
Additional Paid-In Capital	$125M
Retained Earnings	$137M
Treasury Stock	$0
Accum. Other Comp. Income	-$22M
Other Equity	-$4M
TOTAL STOCKHOLDERS' EQUITY	$237M
Minority Interest	$0
TOTAL EQUITY	$237M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$156M
Net Debt	$131M