Bancfirst (BANF) Q4 FY2023 earnings: revenue $150 million, down 5.2% on the year

Bancfirst Corp. (BANF) reported revenue of $150 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.2% on the same quarter a year earlier. Net income was $49 million, down 14.3% on the year, and diluted earnings per share $1.46. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$150 milliondown 5.2%

Net income$49 milliondown 14.3%

Diluted EPS$1.46

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	150	149	n/a	n/a
Interest expense	62.4	55.9	n/a	n/a
Pre-tax income	60.4	65.2	n/a	n/a
Income tax	11.5	14.2	n/a	n/a
Effective tax rate	19.0%	21.8%	n/a
Net income	48.9	51.0	n/a	n/a
Net margin	32.6%	34.3%	n/a
Diluted EPS	$1.46	$1.52	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	42.8	61.1	n/a	n/a
Capital expenditure	4.8	4.7	n/a	n/a
Free cash flow	38.0	56.4	n/a	n/a
Cash from investing	-134	-167	n/a	n/a
Cash from financing	152	33.4	n/a	n/a
Depreciation and amortisation	5.4	5.6	n/a	n/a
Share-based compensation	0.9	0.9	n/a	n/a
Dividends paid	14.2	13.2	n/a	n/a
Dividend per share	n/a	$0.43	n/a	n/a
Diluted shares, weighted	33m	34m	n/a	n/a
Shares outstanding at period end	33m	33m	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	1,434	1,371	n/a	n/a
Deposits	10,700	10,534	n/a	n/a
Short-term borrowings	3.4	4.0	n/a	n/a
Other liabilities	235	206	n/a	n/a
Total liabilities and equity	12,372	12,115	n/a	n/a
Fixed assets	279	280	n/a	n/a
Goodwill	182	182	n/a	n/a
Intangible assets	16.7	17.6	n/a	n/a
Securities held for sale or to maturity	1,555	1,525	n/a	n/a
Loans	7,560	7,375	n/a	n/a
Cash and equivalents	2,397	2,337	n/a	n/a
Other assets	382	398	n/a	n/a
Total assets	12,372	12,115	n/a	n/a

Questions

What was Bancfirst's revenue in Q4 FY2023?

Bancfirst (BANF) reported revenue of $150 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.2% on the same quarter a year earlier.

How much did Bancfirst earn in Q4 FY2023?

Net income for Q4 FY2023 was $49 million, down 14.3% on the year, and diluted earnings per share $1.46.

When did Bancfirst report Q4 FY2023 results?

Bancfirst filed its 10-K for the year that ended with the quarter on 27 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	149	150	151	154	164	163	165	169	175	181	179	187
Interest expense	55.9	62.4	65.5	68.6	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	65.2	60.4	64.2	65.2	73.9	72.0	71.1	79.7	79.0	75.4	80.1	85.1
Tax rate	22%	19%	22%	22%	20%	22%	21%	22%	21%	21%	21%	22%
Net income	51.0	48.9	50.3	50.6	58.9	56.5	56.1	62.3	62.7	59.5	63.0	66.7
Net margin	34%	33%	33%	33%	36%	35%	34%	37%	36%	33%	35%	36%
Diluted EPS	$1.52	$1.46	$1.50	$1.51	$1.75	$1.68	$1.66	$1.85	$1.85	$1.75	$1.85	$1.96
Operating cash flow	61.1	42.8	66.3	100	77.6	17.1	77.0	78.1	75.4	54.8	75.8	83.1
Capital expenditure	4.7	4.8	10.3	6.0	5.2	15.1	11.3	13.7	11.7	11.5	10.8	9.8
Free cash flow	56.4	38.0	56.1	94.1	72.4	2.0	65.6	64.4	63.7	43.2	65.1	73.3
Dividends paid	13.2	14.2	14.2	14.2	14.2	15.2	15.3	15.3	15.3	16.3	16.4	16.5
Shares outstanding	33m	33m	33m	33m	33m	33m	33m	33m	33m	34m	34m	34m
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 27 February 2024, accession 0000950170-24-020908: the filing on EDGAR. All of Bancfirst Corp.'s filings: EDGAR company page.

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