Hope Bancorp (HOPE) Q4 FY2023 earnings: revenue $135 million, down 16.9% on the year

Hope Bancorp Inc. (HOPE) reported revenue of $135 million for Q4 FY2023, the quarter ended 31 December 2023, down 16.9% on the same quarter a year earlier. Net income was $26 million, down 48.8% on the year, and diluted earnings per share $0.22. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.

Revenue$135 milliondown 16.9%

Net income$26 milliondown 48.8%

Diluted EPS$0.22

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	135	144	n/a	n/a
Interest expense	143	140	n/a	n/a
Pre-tax income	33.6	40.0	n/a	n/a
Income tax	7.1	10.0	n/a	n/a
Effective tax rate	21.2%	24.9%	n/a
Net income	26.5	30.0	n/a	n/a
Net margin	19.6%	20.9%	n/a
Diluted EPS	$0.22	$0.25	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	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	78.6	193	n/a	n/a
Capital expenditure	2.0	3.4	n/a	n/a
Free cash flow	76.6	189	n/a	n/a
Cash from investing	353	366	n/a	n/a
Cash from financing	-1,003	-361	n/a	n/a
Depreciation and amortisation	5.9	2.3	n/a	n/a
Share-based compensation	3.6	3.0	n/a	n/a
Buybacks	n/a	0.0	n/a	n/a
Dividend per share	$0.14	$0.14	n/a	n/a
Diluted shares, weighted	n/a	120m	n/a	n/a
Shares outstanding at period end	120m	120m	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	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	2,121	2,030	n/a	n/a
Deposits	14,754	15,740	n/a	n/a
Short-term borrowings	1,796	1,796	n/a	n/a
Operating lease liabilities	38.4	41.5	n/a	n/a
Other liabilities	422	469	n/a	n/a
Total liabilities and equity	19,132	20,076	n/a	n/a
Fixed assets	50.6	51.8	n/a	n/a
Goodwill	464	464	n/a	n/a
Intangible assets	3.9	4.4	n/a	n/a
Securities held for sale or to maturity	2,409	2,261	n/a	n/a
Loans	13,695	14,147	n/a	n/a
Cash and equivalents	1,929	2,500	n/a	n/a
Other assets	580	647	n/a	n/a
Total assets	19,132	20,076	n/a	n/a

Questions

What was Hope Bancorp's revenue in Q4 FY2023?

Hope Bancorp (HOPE) reported revenue of $135 million for Q4 FY2023, the quarter ended 31 December 2023, down 16.9% on the same quarter a year earlier.

How much did Hope Bancorp earn in Q4 FY2023?

Net income for Q4 FY2023 was $26 million, down 48.8% on the year, and diluted earnings per share $0.22.

When did Hope Bancorp report Q4 FY2023 results?

Hope Bancorp filed its 10-K for the quarter ended 31 December 2023 with the SEC on 28 February 2024.

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	144	135	123	117	117	118	117	94.6	142	146	141	148
Interest expense	140	143	145	127	130	124	116	122	118	113	n/a	n/a
Pre-tax income	40.0	33.6	35.9	34.5	32.1	30.4	27.8	-26.1	36.4	39.1	37.9	42.6
Tax rate	25%	21%	28%	27%	25%	20%	24%	n/a	15%	12%	22%	22%
Net income	30.0	26.5	25.9	25.3	24.2	24.3	21.1	-24.8	30.8	34.5	29.5	33.0
Net margin	21%	20%	21%	22%	21%	21%	18%	-26%	22%	24%	21%	22%
Diluted EPS	$0.25	$0.22	$0.21	$0.21	$0.20	$0.20	$0.17	-$0.22	$0.24	$0.27	$0.23	$0.26
Operating cash flow	193	78.6	29.6	-25.6	63.0	49.6	26.7	9.4	51.7	76.8	13.8	60.4
Capital expenditure	3.4	2.0	2.1	2.5	2.9	2.3	2.7	2.5	4.6	3.4	2.0	4.4
Free cash flow	189	76.6	27.5	-28.1	60.1	47.4	24.0	6.9	47.2	73.4	11.8	56.0
Buybacks	0.0	n/a	n/a	n/a	n/a	n/a	0.0	0.0	n/a	n/a	6.7	2.0
Shares outstanding	120m	120m	121m	121m	121m	121m	121m	128m	128m	128m	128m	128m
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.

A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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-K for the period ended 31 December 2023, filed 28 February 2024, accession 0001128361-24-000006: the filing on EDGAR. All of Hope Bancorp Inc.'s filings: EDGAR company page.

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