Ameris Bancorp (ABCB) Q4 FY2023 earnings: revenue $262 million, down 3.7% on the year

Ameris Bancorp (ABCB) reported revenue of $262 million for Q4 FY2023, the quarter ended 31 December 2023, down 3.7% on the same quarter a year earlier. Net income was $66 million, down 19.8% on the year, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.

Revenue$262 milliondown 3.7%

Net income$66 milliondown 19.8%

Diluted EPS$0.96

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	262	271	n/a	n/a
Interest expense	126	123	n/a	n/a
Pre-tax income	90.4	105	n/a	n/a
Income tax	24.5	24.9	n/a	n/a
Effective tax rate	27.1%	23.7%	n/a
Net income	65.9	80.1	n/a	n/a
Net margin	25.1%	29.6%	n/a
Diluted EPS	$0.96	$1.16	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	213	132	n/a	n/a
Capital expenditure	5.9	3.8	n/a	n/a
Free cash flow	207	128	n/a	n/a
Cash from investing	4.1	285	n/a	n/a
Cash from financing	-595	-191	n/a	n/a
Depreciation and amortisation	9.3	9.3	n/a	n/a
Share-based compensation	2.5	3.0	n/a	n/a
Dividends paid	10.3	10.3	n/a	n/a
Dividend per share	n/a	$0.15	n/a	n/a
Diluted shares, weighted	69m	69m	n/a	n/a
Shares outstanding at period end	69m	69m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	3,427	3,347	n/a	n/a
Deposits	20,709	20,590	n/a	n/a
Other liabilities	1,068	1,760	n/a	n/a
Total liabilities and equity	25,204	25,698	n/a	n/a
Fixed assets	216	218	n/a	n/a
Goodwill	1,016	1,016	n/a	n/a
Intangible assets	87.9	n/a	n/a	n/a
Securities held for sale or to maturity	1,544	1,566	n/a	n/a
Loans	19,962	19,911	n/a	n/a
Cash and equivalents	1,167	1,546	n/a	n/a
Other assets	1,210	1,442	n/a	n/a
Total assets	25,204	25,698	n/a	n/a

Questions

What was Ameris Bancorp's revenue in Q4 FY2023?

Ameris Bancorp (ABCB) reported revenue of $262 million for Q4 FY2023, the quarter ended 31 December 2023, down 3.7% on the same quarter a year earlier.

How much did Ameris Bancorp earn in Q4 FY2023?

Net income for Q4 FY2023 was $66 million, down 19.8% on the year, and diluted earnings per share $0.96.

When did Ameris Bancorp report Q4 FY2023 results?

Ameris Bancorp filed its 10-K for the year that ended with the quarter on 28 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	271	262	267	301	284	291	286	301	314	307	314	326
Interest expense	123	126	128	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	105	90.4	97.5	127	126	126	113	143	137	141	141	66.0
Tax rate	24%	27%	24%	28%	21%	25%	22%	23%	23%	23%	21%	22%
Net income	80.1	65.9	74.3	90.8	99.2	94.4	87.9	110	106	108	110	51.4
Net margin	30%	25%	28%	30%	35%	32%	31%	37%	34%	35%	35%	16%
Diluted EPS	$1.16	$0.96	$1.08	$1.32	$1.44	$1.37	$1.27	$1.60	$1.54	$1.59	$1.63	$0.77
Operating cash flow	132	213	18.6	-97.1	102	131	117	61.4	105	107	257	79.4
Capital expenditure	3.8	5.9	3.4	3.3	2.4	4.4	2.7	7.7	4.4	5.8	7.7	8.6
Free cash flow	128	207	15.1	-100	99.8	126	114	53.7	101	101	249	70.8
Dividends paid	10.3	10.3	10.5	10.3	10.3	10.3	14.1	13.7	13.7	13.7	14.0	13.4
Shares outstanding	69m	69m	69m	69m	69m	69m	69m	69m	68m	68m	67m	67m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 28 February 2024, accession 0000351569-24-000006: the filing on EDGAR. All of Ameris Bancorp's filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install