ZION Q3 2018 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q3 2018 Earnings

Reported November 7, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$767M	$744M	$696M	3.1%	10.2%
Op. Income	$292M	$253M	$243M	15.4%	20.2%
Gross Margin	92.8%	90.6%	94.3%	2.2pp	-1.4pp
Net Margin	29.1%	26.5%	23.0%	2.6pp	6.1pp
EPS (Diluted)	$1.04	$0.89	$0.72	16.9%	44.4%
Free Cash Flow	$351M	$137M	$188M	156.2%	86.7%

Revenue Flow

Item	Amount
REVENUE	$767M
Cost of Revenue	$55M
GROSS PROFIT	$712M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$282M
SG&A Expenses	$290M
Other Expenses	$130M
Operating Expenses	$420M
Cost & Expenses	$475M
OPERATING INCOME	$292M
Interest Income	$631M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$292M
Income Tax Expense	$69M
Net Income from Continuing Ops	$223M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$214M
D&A	$49M
EBIT	$292M
EBITDA	$341M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$767M
Cost of Revenue	$55M
GROSS PROFIT	$712M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$282M
SG&A Expenses	$290M
Other Expenses	$130M
Operating Expenses	$420M
Cost & Expenses	$475M
OPERATING INCOME	$292M
Interest Income	$631M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$292M
Income Tax Expense	$69M
Net Income from Continuing Ops	$223M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$214M
D&A	$49M
EBIT	$292M
EBITDA	$341M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$223M
Depreciation & Amortization	$49M
Stock-Based Compensation	$4M
Deferred Income Tax	-$6M
Other Non-Cash Items	-$15M
Change in Working Capital	$132M
OPERATING CASH FLOW	$387M
Capital Expenditure	-$36M
Acquisitions (Net)	$0
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.3B
Other Investing Activities	-$548M
NET CASH FROM INVESTING	-$410M
Net Debt Issuance	$120M
Common Stock Repurchased	-$186M
Common Dividends Paid	-$68M
Other Financing Activities	$204M
NET CASH FROM FINANCING	$72M
FREE CASH FLOW	$351M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$14.6B
Net Receivables	$332M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.1B
PP&E (Net)	$1.1B
Goodwill	$0
Intangible Assets	$1.0B
Long-Term Investments	$46.8B
Tax Assets	$0
Other Non-Current Assets	$1.7B
TOTAL NON-CURRENT ASSETS	$50.7B
TOTAL ASSETS	$66.7B
Account Payables	$0
Short-Term Debt	$3.8B
Deferred Revenue	$0
Other Current Liabilities	$53.8B
TOTAL CURRENT LIABILITIES	$57.6B
Long-Term Debt	$879M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$734M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$59.2B
Common Stock	$0
Additional Paid-In Capital	$4.1B
Retained Earnings	$3.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$361M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.6B
Minority Interest	$0
TOTAL EQUITY	$7.6B
TOTAL LIABILITIES & EQUITY	$66.7B
Total Debt	$4.7B
Net Debt	$3.6B