ZION Q3 2020 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q3 2020 Earnings

Reported November 4, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2020	Q2 2020	Q3 2019	QoQ Change	YoY Change
Revenue	$738M	$712M	$823M	3.7%	-10.3%
Op. Income	$215M	$82M	$288M	162.2%	-25.3%
Gross Margin	89.0%	71.9%	85.4%	17.1pp	3.6pp
Net Margin	23.7%	9.3%	27.0%	14.4pp	-3.3pp
EPS (Diluted)	$1.01	$0.34	$1.17	197.1%	-13.7%
Free Cash Flow	$109M	$191M	$92M	-42.9%	18.5%

Revenue Flow

Item	Amount
REVENUE	$738M
Cost of Revenue	$81M
GROSS PROFIT	$657M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$277M
SG&A Expenses	$284M
Other Expenses	$158M
Operating Expenses	$442M
Cost & Expenses	$523M
OPERATING INCOME	$215M
Interest Income	$581M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$215M
Income Tax Expense	$40M
Net Income from Continuing Ops	$175M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$175M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$167M
D&A	$12M
EBIT	$215M
EBITDA	$227M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$738M
Cost of Revenue	$81M
GROSS PROFIT	$657M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$277M
SG&A Expenses	$284M
Other Expenses	$158M
Operating Expenses	$442M
Cost & Expenses	$523M
OPERATING INCOME	$215M
Interest Income	$581M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$215M
Income Tax Expense	$40M
Net Income from Continuing Ops	$175M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$175M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$167M
D&A	$12M
EBIT	$215M
EBITDA	$227M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$175M
Depreciation & Amortization	$12M
Stock-Based Compensation	$4M
Deferred Income Tax	-$3M
Other Non-Cash Items	$47M
Change in Working Capital	-$85M
OPERATING CASH FLOW	$150M
Capital Expenditure	-$41M
Acquisitions (Net)	$0
Purchases of Investments	-$3.8B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	$376M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$393M
Common Stock Repurchased	$0
Common Dividends Paid	-$65M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$109M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$14.8B
Net Receivables	$319M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.6B
PP&E (Net)	$1.2B
Goodwill	$0
Intangible Assets	$1.0B
Long-Term Investments	$54.4B
Tax Assets	$0
Other Non-Current Assets	$5.2B
TOTAL NON-CURRENT ASSETS	$61.8B
TOTAL ASSETS	$78.4B
Account Payables	$0
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$67.1B
TOTAL CURRENT LIABILITIES	$68.3B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$996M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$70.7B
Common Stock	$2.7B
Additional Paid-In Capital	$0
Retained Earnings	$4.1B
Treasury Stock	$0
Accum. Other Comp. Income	$332M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.7B
Minority Interest	$0
TOTAL EQUITY	$7.7B
TOTAL LIABILITIES & EQUITY	$78.4B
Total Debt	$2.6B
Net Debt	$1.2B