Columbia Banking System (COLB) Q3 FY2023 earnings: revenue $525 million, up 65.5% on the year

Columbia Banking System, Inc. (COLB) reported revenue of $525 million for Q3 FY2023, the quarter ended 30 September 2023, up 65.5% on the same quarter a year earlier. Net income was $136 million, up 61.6% on the year, and diluted earnings per share $0.65. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$525 millionup 65.5%

Net income$136 millionup 61.6%

Diluted EPS$0.65

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	525	n/a	n/a	n/a
Interest expense	215	n/a	n/a	n/a
Income tax	48.1	n/a	n/a	n/a
Net income	136	n/a	n/a	n/a
Net margin	25.9%	n/a	n/a
Diluted EPS	$0.65	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	350	n/a	n/a	n/a
Cash from investing	232	n/a	n/a	n/a
Cash from financing	-1,586	n/a	n/a	n/a
Depreciation and amortisation	39.3	n/a	n/a	n/a
Share-based compensation	4.3	n/a	n/a	n/a
Buybacks	0.1	n/a	n/a	n/a
Dividends paid	74.9	n/a	n/a	n/a
Dividend per share	$0.36	n/a	n/a	n/a
Diluted shares, weighted	209m	n/a	n/a	n/a
Shares outstanding at period end	209m	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	4,632	n/a	n/a	n/a
Deposits	41,624	n/a	n/a	n/a
Short-term borrowings	35.0	n/a	n/a	n/a
Other liabilities	5,702	n/a	n/a	n/a
Total liabilities and equity	51,994	n/a	n/a	n/a
Fixed assets	338	n/a	n/a	n/a
Goodwill	1,029	n/a	n/a	n/a
Intangible assets	637	n/a	n/a	n/a
Securities held for sale or to maturity	8,506	n/a	n/a	n/a
Loans	36,754	n/a	n/a	n/a
Cash and equivalents	2,404	n/a	n/a	n/a
Other assets	2,326	n/a	n/a	n/a
Total assets	51,994	n/a	n/a	n/a

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	525	519	474	472	496	487	491	511	582	717	677	677
Interest expense	215	238	261	268	269	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	136	93.5	124	121	146	143	87.0	152	96.0	215	192	208
Net margin	26%	18%	26%	26%	29%	29%	18%	30%	16%	30%	28%	31%
Diluted EPS	$0.65	$0.45	$0.59	$0.57	$0.70	$0.68	$0.41	$0.73	$0.40	$0.72	$0.66	$0.73
Operating cash flow	350	92.4	186	150	67.2	256	122	107	236	281	494	295
Capital expenditure	n/a	n/a	5.9	6.5	7.6	16.0	0.0	21.8	8.0	10.0	17.0	7.0
Free cash flow	n/a	n/a	180	144	59.6	240	122	85.0	228	271	477	288
Buybacks	0.1	0.2	4.8	0.8	0.0	0.1	7.0	1.9	0.4	n/a	215	203
Dividends paid	74.9	74.9	75.0	75.1	75.1	75.1	75.0	75.3	75.5	109	107	105
Shares outstanding	209m	209m	209m	209m	210m	210m	210m	210m	299m	295m	290m	283m
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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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 3 November 2023, accession 0000887343-23-000307: the filing on EDGAR. All of Columbia Banking System, Inc.'s filings: EDGAR company page.

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