ZION Q1 2017 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q1 2017 Earnings

Reported May 8, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$647M	$630M	$592M	2.7%	9.3%
Op. Income	$184M	$207M	$132M	-11.1%	39.4%
Gross Margin	92.4%	97.0%	89.2%	-4.6pp	3.2pp
Net Margin	21.5%	21.8%	15.4%	-0.3pp	6.1pp
EPS (Diluted)	$0.61	$0.60	$0.38	1.7%	60.5%
Free Cash Flow	$330M	$81M	$167M	308.7%	97.6%

Revenue Flow

Item	Amount
REVENUE	$647M
Cost of Revenue	$49M
GROSS PROFIT	$598M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$272M
SG&A Expenses	$277M
Other Expenses	$137M
Operating Expenses	$414M
Cost & Expenses	$463M
OPERATING INCOME	$184M
Interest Income	$515M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$184M
Income Tax Expense	$45M
Net Income from Continuing Ops	$139M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$139M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$129M
D&A	$37M
EBIT	$184M
EBITDA	$221M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$647M
Cost of Revenue	$49M
GROSS PROFIT	$598M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$272M
SG&A Expenses	$277M
Other Expenses	$137M
Operating Expenses	$414M
Cost & Expenses	$463M
OPERATING INCOME	$184M
Interest Income	$515M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$184M
Income Tax Expense	$45M
Net Income from Continuing Ops	$139M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$139M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$129M
D&A	$37M
EBIT	$184M
EBITDA	$221M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$139M
Depreciation & Amortization	$37M
Stock-Based Compensation	$12M
Deferred Income Tax	$13M
Other Non-Cash Items	$4M
Change in Working Capital	$175M
OPERATING CASH FLOW	$380M
Capital Expenditure	-$50M
Acquisitions (Net)	$0
Purchases of Investments	-$3.3B
Sales/Maturities of Investments	$621M
Other Investing Activities	-$112M
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$2.2B
Common Stock Repurchased	-$50M
Common Dividends Paid	-$29M
Other Financing Activities	$241M
NET CASH FROM FINANCING	$2.3B
FREE CASH FLOW	$330M
Net Change in Cash	-$171M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$15.6B
Net Receivables	$404M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18.3B
PP&E (Net)	$1.0B
Goodwill	$1.0B
Intangible Assets	$7M
Long-Term Investments	$43.7B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$47.1B
TOTAL ASSETS	$65.5B
Account Payables	$0
Short-Term Debt	$3.1B
Deferred Revenue	$0
Other Current Liabilities	$53.5B
TOTAL CURRENT LIABILITIES	$56.6B
Long-Term Debt	$382M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$738M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$57.7B
Common Stock	$4.7B
Additional Paid-In Capital	$0
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$111M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.7B
Minority Interest	$0
TOTAL EQUITY	$7.7B
TOTAL LIABILITIES & EQUITY	$65.5B
Total Debt	$3.5B
Net Debt	$1.2B