WSBCO FY 2023 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBCO

FY 2023 Earnings

Reported December 31, 2023

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	$825M	—	$625M	—	31.9%
Op. Income	$194M	—	$236M	—	-17.9%
Gross Margin	69.9%	—	94.0%	—	-24.0pp
Net Margin	19.3%	—	30.7%	—	-11.5pp
EPS (Diluted)	$2.51	—	$3.02	—	-16.9%
Free Cash Flow	$147M	—	$196M	—	-25.2%

Revenue Flow

Item	Amount
REVENUE	$825M
Cost of Revenue	$248M
GROSS PROFIT	$577M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$236M
SG&A Expenses	$247M
Other Expenses	$136M
Operating Expenses	$383M
Cost & Expenses	$631M
OPERATING INCOME	$194M
Interest Income	$712M
Interest Expense	$230M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$35M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$14M
EBIT	$194M
EBITDA	$208M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$825M
Cost of Revenue	$248M
GROSS PROFIT	$577M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$236M
SG&A Expenses	$247M
Other Expenses	$136M
Operating Expenses	$383M
Cost & Expenses	$631M
OPERATING INCOME	$194M
Interest Income	$712M
Interest Expense	$230M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$35M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$14M
EBIT	$194M
EBITDA	$208M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$159M
Depreciation & Amortization	$14M
Stock-Based Compensation	$8M
Deferred Income Tax	-$4M
Other Non-Cash Items	$20M
Change in Working Capital	-$28M
OPERATING CASH FLOW	$169M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$5M
Sales/Maturities of Investments	$419M
Other Investing Activities	-$927M
NET CASH FROM INVESTING	-$535M
Net Debt Issuance	$610M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$82M
Other Financing Activities	$39M
NET CASH FROM FINANCING	$553M
FREE CASH FLOW	$147M
Net Change in Cash	$187M

Balance Sheet

Item	Amount
Cash & Equivalents	$595M
Short-Term Investments	$2.2B
Net Receivables	$77M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$234M
Goodwill	$1.1B
Intangible Assets	$36M
Long-Term Investments	$12.7B
Tax Assets	$0
Other Non-Current Assets	$744M
TOTAL NON-CURRENT ASSETS	$14.8B
TOTAL ASSETS	$17.7B
Account Payables	$11M
Short-Term Debt	$106M
Deferred Revenue	$0
Other Current Liabilities	$13.2B
TOTAL CURRENT LIABILITIES	$13.3B
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$265M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$15.2B
Common Stock	$142M
Additional Paid-In Capital	$1.6B
Retained Earnings	$1.1B
Treasury Stock	-$303M
Accum. Other Comp. Income	-$229M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$17.7B
Total Debt	$1.7B
Net Debt	$1.1B