Huntington Bancshares (HBAN) FY2023 results: revenue $7.4 billion, up 1.5% on the year
Huntington Bancshares Inc. (HBAN) reported revenue of $7.4 billion for fiscal 2023, the year ended 31 December 2023, up 1.5% on the year before. Net income was $2.0 billion, down 12.8%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$7.4 billion
+1.5% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$2.0 billion
-12.8% on the year
FY2016FY2023
Diluted EPS
$1.24
-14.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,657
4,027
2,062
-34.0%
Capital expenditure
140
214
247
-34.6%
Free cash flow
2,517
3,813
1,815
-34.0%
Cash from investing
-2,997
-11,609
-3,962
Cash from financing
3,765
8,764
827
-57.0%
Depreciation and amortisation
798
484
391
+64.9%
Share-based compensation
97.0
105
129
-7.6%
Buybacks
0.0
0.0
650
Dividends paid
900
897
750
+0.3%
Dividend per share
$0.62
$0.62
$0.60
0.0%
Diluted shares, weighted
1,468m
1,465m
1,287m
+0.2%
Shares outstanding at period end
1,448m
1,443m
1,438m
+0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
19,353
17,731
19,297
+9.1%
Non-controlling interest
45.0
38.0
21.0
+18.4%
Deposits
151,230
147,914
143,263
+2.2%
Debt
13,014
11,713
7,442
+11.1%
Other liabilities
5,726
5,510
4,041
+3.9%
Total liabilities and equity
189,368
182,906
174,064
+3.5%
Fixed assets
1,109
1,156
1,164
-4.1%
Goodwill
5,561
5,571
5,349
-0.2%
Intangible assets
143
195
242
-26.7%
Securities held for sale or to maturity
41,055
40,475
40,907
+1.4%
Loans
119,727
117,402
109,890
+2.0%
Cash and equivalents
10,129
6,704
5,522
+51.1%
Other assets
11,644
11,403
10,990
+2.1%
Total assets
189,368
182,906
174,064
+3.5%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.