Huntington Bancshares (HBAN) FY2018 results: revenue $4.5 billion, up 4.7% on the year
Huntington Bancshares Inc. (HBAN) reported revenue of $4.5 billion for fiscal 2018, the year ended 31 December 2018, up 4.7% on the year before. Net income was $1.4 billion, up 17.5%, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$4.5 billion
+4.7% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$1.4 billion
+17.5% on the year
FY2011FY2018
Diluted EPS
$1.20
+20.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,510
4,309
3,519
+4.7%
Interest expense
760
431
263
+76.3%
Pre-tax income
1,628
1,394
920
+16.8%
Income tax
235
208
208
+13.0%
Effective tax rate
14.4%
14.9%
22.6%
Net income
1,393
1,186
712
+17.5%
Net margin
30.9%
27.5%
20.2%
Diluted EPS
$1.20
$1.00
$0.70
+20.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,726
1,954
1,215
-11.7%
Capital expenditure
110
194
120
-43.3%
Free cash flow
1,616
1,760
1,095
-8.2%
Cash from investing
-3,663
-4,866
-3,445
Cash from financing
3,089
3,047
2,768
+1.4%
Depreciation and amortisation
493
413
380
+19.4%
Share-based compensation
78.0
92.0
66.0
-15.2%
Buybacks
939
260
0.0
+261.2%
Dividends paid
514
349
245
+47.3%
Dividend per share
$0.50
$0.35
$0.29
+42.9%
Diluted shares, weighted
1,106m
1,136m
919m
-2.7%
Shares outstanding at period end
1,047m
1,072m
1,086m
-2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
11,102
10,814
10,308
+2.7%
Deposits
84,774
77,041
75,608
+10.0%
Debt
10,642
14,262
12,002
-25.4%
Other liabilities
2,263
2,068
1,796
+9.4%
Total liabilities and equity
108,781
104,185
99,714
+4.4%
Fixed assets
790
864
816
-8.6%
Goodwill
1,989
1,993
1,993
-0.2%
Intangible assets
281
346
402
-18.8%
Securities held for sale or to maturity
22,345
23,960
7,807
-6.7%
Loans
74,128
69,426
66,324
+6.8%
Trading assets
105
86.0
133
+22.1%
Cash and equivalents
2,672
1,520
1,385
+75.8%
Other assets
6,471
5,990
20,855
+8.0%
Total assets
108,781
104,185
99,714
+4.4%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.