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First Bancorp /PR (FBP) Q1 FY2022 earnings: revenue $218 million, up 5.4% on the year

First Bancorp /PR (FBP) reported revenue of $218 million for Q1 FY2022, the quarter ended 31 March 2022, up 5.4% on the same quarter a year earlier as this quarter's filing gives it. Net income was $83 million, up 35.1% on the year as this quarter's filing gives it, and diluted earnings per share $0.41. The figures are the company's own, from the 10-Q it filed with the SEC on 9 May 2022.

Revenue$218 millionup 5.4% on the year
Net income$83 millionup 35.1% on the year
Diluted EPS$0.41
QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Revenue218215n/an/a
Interest expense12.214.3n/an/a
Pre-tax income126115n/an/a
Income tax43.041.6n/an/a
Effective tax rate34.2%36.1%n/a
Net income82.673.6n/an/a
Net margin37.8%34.3%n/a
Diluted EPS$0.41$0.34n/an/a
$ million except per share.
Read moreFourth 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

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Operating cash flow11596.2n/an/a
Capital expenditure6.82.6n/an/a
Free cash flow10893.6n/an/a
Cash from investing-333220n/an/a
Cash from financing-629-431n/an/a
Share-based compensation1.21.4n/an/a
Buybacks52.764.4n/an/a
Dividends paid19.720.3n/an/a
Dividend per share$0.10n/an/an/a
Diluted shares, weighted200m211mn/an/a
Shares outstanding at period end199m202mn/an/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

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Shareholders' equity1,7812,102n/an/a
Deposits17,33517,785n/an/a
Debtn/a684n/an/a
Other liabilities813215n/an/a
Total liabilities and equity19,92920,785n/an/a
Fixed assets146146n/an/a
Goodwill38.638.6n/an/a
Intangible assets27.629.9n/an/a
Securities held for sale or to maturity6,4256,632n/an/a
Loans10,85210,792n/an/a
Cash and equivalents1,6962,543n/an/a
Other assets744604n/an/a
Total assets19,92920,785n/an/a

Questions

What was First Bancorp /PR's revenue in Q1 FY2022?

First Bancorp /PR (FBP) reported revenue of $218 million for Q1 FY2022, the quarter ended 31 March 2022, up 5.4% on the same quarter a year earlier as the company restated it.

How much did First Bancorp /PR earn in Q1 FY2022?

Net income for Q1 FY2022 was $83 million, up 35.1% on the year, and diluted earnings per share $0.41.

When did First Bancorp /PR report Q1 FY2022 results?

First Bancorp /PR filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 9 May 2022.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue215215218227238235233236230230231232235241248247249257259265
Interest expense15.414.312.212.414.827.941.552.463.768.872.072.6n/an/an/an/an/an/an/an/a
Pre-tax income11311512610910710710310110984.997.410196.496.0100103106107114120
Tax rate33%36%34%31%30%31%31%30%25%6%25%25%24%21%23%22%5%19%22%20%
Net income75.773.682.674.774.673.270.770.782.079.573.575.873.775.777.180.210187.188.896.2
Net margin35%34%38%33%31%31%30%30%36%35%32%33%31%31%31%32%40%34%34%36%
Diluted EPS$0.36$0.34$0.41$0.38$0.40$0.40$0.39$0.39$0.46$0.46$0.44$0.46$0.45$0.46$0.47$0.50$0.63$0.55$0.57$0.62
Operating cash flow79.096.211510511510611551.011779.211871.111896.810895.413810712192.2
Capital expenditure2.72.66.85.13.65.01.714.53.72.74.11.72.51.61.52.62.94.15.25.0
Free cash flow76.493.610899.711210111436.511476.611469.411595.210792.813510311687.2
Buybacks50.364.452.710074.550.553.20.073.776.352.449.20.80.024.928.750.150.054.650.3
Dividends paid14.420.319.723.622.422.125.126.024.723.826.626.826.026.129.329.728.528.032.131.0
Shares outstanding206m202m199m192m186m183m180m180m174m169m167m164m164m164m163m162m159m157m155m153m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-Q for the period ended 31 March 2022, filed 9 May 2022: the filing.