Huntington Bancshares (HBAN) FY2013 results: revenue $2.7 billion, down 3.6% on the year
Huntington Bancshares Inc. (HBAN) reported revenue of $2.7 billion for fiscal 2013, the year ended 31 December 2013, down 3.6% on the year before. Net income was $641 million, up 1.6%, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$2.7 billion
-3.6% on the year
FY2008FY2013
Operating margin
n/a
FY2008FY2013
Net income
$641 million
+1.6% on the year
FY2008FY2013
Diluted EPS
$0.72
+4.3% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,717
2,817
2,621
-3.6%
Interest expense
156
220
341
-29.0%
Pre-tax income
869
834
719
+4.2%
Income tax
227
202
173
+12.4%
Effective tax rate
26.2%
24.3%
24.0%
Net income
641
631
546
+1.6%
Net margin
23.6%
22.4%
20.8%
Diluted EPS
$0.72
$0.69
$0.59
+4.3%
$ million except per share. Read moreFree 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
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,013
1,002
1,595
+1.1%
Capital expenditure
102
130
144
-21.2%
Free cash flow
911
872
1,451
+4.4%
Cash from investing
-4,240
-1,083
-1,305
Cash from financing
2,965
228
-22.0
+1,202.4%
Depreciation and amortisation
282
275
282
+2.5%
Share-based compensation
37.0
27.9
19.7
+32.8%
Buybacks
125
n/a
n/a
Dividends paid
151
138
61.6
+9.4%
Dividend per share
$0.19
$0.16
$0.10
+18.8%
Diluted shares, weighted
844m
863m
868m
-2.3%
Shares outstanding at period end
831m
843m
864m
-1.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,099
5,778
5,778
+5.6%
Deposits
47,507
46,253
43,280
+2.7%
Debt
4,810
2,955
4,539
+62.8%
Other liabilities
1,060
1,167
854
-9.2%
Total liabilities and equity
59,476
56,153
54,451
+5.9%
Fixed assets
635
617
564
+2.8%
Goodwill
444
444
444
0.0%
Intangible assets
93.2
132
175
-29.5%
Securities held for sale or to maturity
3,970
1,925
835
+106.2%
Loans
42,473
39,959
37,959
+6.3%
Resale agreements
n/a
n/a
0.0
Trading assets
35.6
91.2
45.9
-61.0%
Cash and equivalents
1,001
1,263
1,263
-20.7%
Other assets
10,825
11,721
13,164
-7.6%
Total assets
59,476
56,153
54,451
+5.9%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.