BankUnited (BKU) Q3 FY2023 earnings: revenue $243 million, down 6.3% on the year

BankUnited, Inc. (BKU) reported revenue of $243 million for Q3 FY2023, the quarter ended 30 September 2023, down 6.3% on the same quarter a year earlier. Net income was $47 million, down 46.5% on the year, and diluted earnings per share $0.63. The figures are the company's own, from the 10-Q it filed with the SEC on 1 November 2023.

Revenue$243 milliondown 6.3%

Net income$47 milliondown 46.5%

Diluted EPS$0.63

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	243	n/a	n/a	n/a
Interest expense	256	n/a	n/a	n/a
Pre-tax income	62.4	n/a	n/a	n/a
Income tax	15.4	n/a	n/a	n/a
Effective tax rate	24.7%	n/a	n/a
Net income	47.0	n/a	n/a	n/a
Net margin	19.4%	n/a	n/a
Diluted EPS	$0.63	n/a	n/a	n/a

$ million except per share.

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	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	170	n/a	n/a	n/a
Cash from investing	459	n/a	n/a	n/a
Cash from financing	-538	n/a	n/a	n/a
Depreciation and amortisation	18.8	n/a	n/a	n/a
Share-based compensation	5.5	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	20.1	n/a	n/a	n/a
Dividend per share	$0.27	n/a	n/a	n/a
Diluted shares, weighted	74m	n/a	n/a	n/a
Shares outstanding at period end	74m	n/a	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	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	2,524	n/a	n/a	n/a
Deposits	26,113	n/a	n/a	n/a
Debt	715	n/a	n/a	n/a
Other liabilities	6,038	n/a	n/a	n/a
Total liabilities and equity	35,390	n/a	n/a	n/a
Securities held for sale or to maturity	8,831	n/a	n/a	n/a
Loans	24,160	n/a	n/a	n/a
Cash and equivalents	392	n/a	n/a	n/a
Other assets	2,006	n/a	n/a	n/a
Total assets	35,390	n/a	n/a	n/a

Questions

What was BankUnited's revenue in Q3 FY2023?

BankUnited (BKU) reported revenue of $243 million for Q3 FY2023, the quarter ended 30 September 2023, down 6.3% on the same quarter a year earlier.

How much did BankUnited earn in Q3 FY2023?

Net income for Q3 FY2023 was $47 million, down 46.5% on the year, and diluted earnings per share $0.63.

When did BankUnited report Q3 FY2023 results?

BankUnited filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 1 November 2023.

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	243	234	242	250	257	264	255	274	276	288	274	285
Interest expense	256	266	267	257	258	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	62.4	24.2	67.2	73.0	83.2	93.0	80.1	93.9	97.9	89.8	81.7	94.4
Tax rate	25%	14%	29%	26%	26%	25%	27%	27%	27%	23%	24%	25%
Net income	47.0	20.8	48.0	53.7	61.5	69.3	58.5	68.8	71.9	69.3	61.9	70.7
Net margin	19%	9%	20%	21%	24%	26%	23%	25%	26%	24%	23%	25%
Diluted EPS	$0.63	$0.27	$0.64	$0.72	$0.81	$0.91	$0.78	$0.91	$0.95	$0.90	$0.83	$0.97
Operating cash flow	170	63.8	66.5	136	46.1	186	16.4	118	99.7	125	18.3	129
Buybacks	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	60.0	50.6
Dividends paid	20.1	20.1	20.7	21.5	21.6	21.6	22.2	23.2	23.3	23.3	24.1	24.2
Shares outstanding	74m	74m	75m	75m	75m	75m	75m	75m	75m	74m	73m	72m
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.

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-Q for the period ended 30 September 2023, filed 1 November 2023, accession 0001504008-23-000034: the filing on EDGAR. All of BankUnited, Inc.'s filings: EDGAR company page.

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