First Interstate Bancsystem (FIBK) Q3 FY2023 earnings: revenue $256 million, down 11.7% on the year

First Interstate Bancsystem Inc. (FIBK) reported revenue of $256 million for Q3 FY2023, the quarter ended 30 September 2023, down 11.7% on the same quarter a year earlier. Net income was $73 million, down 15.2% on the year, and diluted earnings per share $0.70. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$256 milliondown 11.7%

Net income$73 milliondown 15.2%

Diluted EPS$0.70

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	256	n/a	n/a	n/a
Interest expense	109	n/a	n/a	n/a
Pre-tax income	94.7	n/a	n/a	n/a
Income tax	22.0	n/a	n/a	n/a
Effective tax rate	23.2%	n/a	n/a
Net income	72.7	n/a	n/a	n/a
Net margin	28.4%	n/a	n/a
Diluted EPS	$0.70	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	129	n/a	n/a	n/a
Capital expenditure	6.2	n/a	n/a	n/a
Free cash flow	123	n/a	n/a	n/a
Cash from investing	295	n/a	n/a	n/a
Cash from financing	-511	n/a	n/a	n/a
Depreciation and amortisation	13.3	n/a	n/a	n/a
Share-based compensation	3.6	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	49.2	n/a	n/a	n/a
Dividend per share	$0.47	n/a	n/a	n/a
Diluted shares, weighted	104m	n/a	n/a	n/a
Shares outstanding at period end	105m	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	3,086	n/a	n/a	n/a
Deposits	23,680	n/a	n/a	n/a
Other liabilities	3,776	n/a	n/a	n/a
Total liabilities and equity	30,541	n/a	n/a	n/a
Fixed assets	446	n/a	n/a	n/a
Goodwill	1,101	n/a	n/a	n/a
Intangible assets	85.2	n/a	n/a	n/a
Securities held for sale or to maturity	8,888	n/a	n/a	n/a
Loans	17,987	n/a	n/a	n/a
Cash and equivalents	593	n/a	n/a	n/a
Other assets	1,441	n/a	n/a	n/a
Total assets	30,541	n/a	n/a	n/a

Questions

What was First Interstate Bancsystem's revenue in Q3 FY2023?

First Interstate Bancsystem (FIBK) reported revenue of $256 million for Q3 FY2023, the quarter ended 30 September 2023, down 11.7% on the same quarter a year earlier.

How much did First Interstate Bancsystem earn in Q3 FY2023?

Net income for Q3 FY2023 was $73 million, down 15.2% on the year, and diluted earnings per share $0.70.

When did First Interstate Bancsystem report Q3 FY2023 results?

First Interstate Bancsystem filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 3 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	256	252	242	244	252	261	247	248	250	313	242	264
Interest expense	109	116	125	122	122	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	94.7	80.9	76.7	78.4	72.7	66.7	66.4	93.5	92.6	139	77.5	108
Tax rate	23%	24%	24%	23%	24%	22%	24%	23%	23%	22%	22%	22%
Net income	72.7	61.5	58.4	60.0	55.5	52.1	50.2	71.7	71.4	109	60.2	83.9
Net margin	28%	24%	24%	25%	22%	20%	20%	29%	29%	35%	25%	32%
Diluted EPS	$0.70	$0.59	$0.57	$0.58	$0.54	$0.50	$0.49	$0.69	$0.69	$1.08	$0.61	$0.87
Operating cash flow	129	69.3	87.6	82.3	89.9	95.2	78.5	68.1	91.7	67.3	55.0	57.9
Capital expenditure	6.2	8.8	6.8	2.1	7.5	6.6	4.2	7.9	7.4	8.3	5.2	7.7
Free cash flow	123	60.5	80.8	80.2	82.4	88.6	74.3	60.2	84.3	59.0	49.8	50.2
Buybacks	0.0	32.2	1.1	0.0	0.1	0.0	3.2	0.0	27.5	91.2	87.7	69.5
Dividends paid	49.2	48.7	48.8	49.0	49.1	49.0	48.0	49.1	49.1	48.1	45.7	46.0
Shares outstanding	105m	104m	105m	105m	105m	105m	105m	105m	104m	101m	97m	96m
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-Q for the period ended 30 September 2023, filed 3 November 2023, accession 0000860413-23-000186: the filing on EDGAR. All of First Interstate Bancsystem Inc.'s filings: EDGAR company page.

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