Home Bancshares (HOMB) Q1 FY2024 earnings: revenue $246 million, down 1.0% on the year

Home Bancshares Inc. (HOMB) reported revenue of $246 million for Q1 FY2024, the quarter ended 31 March 2024, down 1.0% on the same quarter a year earlier. Net income was $100 million, down 2.8% on the year, and diluted earnings per share $0.50. The figures are the company's own, from the 10-Q it filed with the SEC on 3 May 2024.

Revenue$246 milliondown 1.0%

Net income$100 milliondown 2.8%

Diluted EPS$0.50

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	246	246	n/a	n/a
Interest expense	112	103	n/a	n/a
Pre-tax income	130	113	n/a	n/a
Income tax	30.3	26.6	n/a	n/a
Effective tax rate	23.2%	23.5%	n/a
Net income	100	86.2	n/a	n/a
Net margin	40.6%	35.1%	n/a
Diluted EPS	$0.50	$0.43	n/a	n/a

$ million except per share.

Fourth 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

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	148	115	n/a	n/a
Capital expenditure	1.7	1.8	n/a	n/a
Free cash flow	146	114	n/a	n/a
Cash from investing	-25.0	-100	n/a	n/a
Cash from financing	52.5	497	n/a	n/a
Depreciation and amortisation	5.4	n/a	n/a	n/a
Share-based compensation	2.3	2.2	n/a	n/a
Buybacks	24.2	17.8	n/a	n/a
Dividends paid	36.2	36.3	n/a	n/a
Dividend per share	$0.18	n/a	n/a	n/a
Diluted shares, weighted	201m	n/a	n/a	n/a
Shares outstanding at period end	201m	202m	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	3,811	3,791	n/a	n/a
Deposits	16,866	16,788	n/a	n/a
Other liabilities	2,158	2,078	n/a	n/a
Total liabilities and equity	22,836	22,657	n/a	n/a
Fixed assets	390	393	n/a	n/a
Goodwill	1,398	1,398	n/a	n/a
Intangible assets	46.6	48.8	n/a	n/a
Securities held for sale or to maturity	4,681	4,790	n/a	n/a
Loans	14,223	14,136	n/a	n/a
Cash and equivalents	1,175	1,000	n/a	n/a
Other assets	921	890	n/a	n/a
Total assets	22,836	22,657	n/a	n/a

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	245	246	246	255	258	258	260	271	278	282	267	295
Interest expense	92.3	103	112	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	129	113	130	133	129	129	147	152	159	153	152	154
Tax rate	24%	24%	23%	24%	23%	22%	22%	22%	22%	23%	22%	23%
Net income	98.5	86.2	100	102	100	101	115	118	124	118	118	119
Net margin	40%	35%	41%	40%	39%	39%	44%	44%	45%	42%	44%	40%
Diluted EPS	$0.49	$0.43	$0.50	$0.51	$0.50	$0.51	$0.58	$0.60	$0.63	$0.60	$0.60	$0.59
Operating cash flow	99.1	115	148	109	129	75.1	117	78.4	115	88.7	151	97.4
Capital expenditure	5.3	1.8	1.7	10.2	12.4	14.3	6.9	8.0	2.9	4.5	11.6	3.3
Free cash flow	93.8	114	146	99.2	116	60.9	110	70.4	112	84.2	139	94.1
Buybacks	5.7	17.8	24.2	32.9	27.0	2.5	29.8	27.5	10.0	14.9	13.9	40.8
Dividends paid	36.5	36.3	36.2	36.1	38.9	38.8	38.8	39.5	39.4	41.3	41.3	42.3
Shares outstanding	202m	202m	201m	200m	199m	199m	198m	197m	197m	196m	196m	200m
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 31 March 2024, filed 3 May 2024, accession 0001331520-24-000126: the filing on EDGAR. All of Home Bancshares Inc.'s filings: EDGAR company page.

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