Hilltop Holdings (HTH) Q2 FY2024 earnings: revenue $297 million, down 3.9% on the year

Hilltop Holdings Inc. (HTH) reported revenue of $297 million for Q2 FY2024, the quarter ended 30 June 2024, down 3.9% on the same quarter a year earlier. Net income was $20 million, up 12.1% on the year, and diluted earnings per share $0.31. The figures are the company's own, from the 10-Q it filed with the SEC on 2 August 2024.

Revenue$297 milliondown 3.9%

Net income$20 millionup 12.1%

Diluted EPS$0.31

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	297	285	n/a	n/a
Interest expense	n/a	106	n/a	n/a
Pre-tax income	29.6	38.1	n/a	n/a
Income tax	6.7	8.6	n/a	n/a
Effective tax rate	22.5%	22.5%	n/a
Net income	20.3	27.7	n/a	n/a
Net margin	6.8%	9.7%	n/a
Diluted EPS	$0.31	$0.42	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	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	-435	70.8	n/a	n/a
Capital expenditure	1.9	2.4	n/a	n/a
Free cash flow	-437	68.4	n/a	n/a
Cash from investing	14.0	15.5	n/a	n/a
Cash from financing	-505	-222	n/a	n/a
Depreciation and amortisation	4.3	5.0	n/a	n/a
Buybacks	9.9	9.9	n/a	n/a
Dividends paid	11.1	11.1	n/a	n/a
Dividend per share	$0.17	$0.17	n/a	n/a
Diluted shares, weighted	65m	65m	n/a	n/a
Shares outstanding at period end	65m	65m	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	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	2,134	2,132	n/a	n/a
Non-controlling interest	28.1	27.6	n/a	n/a
Deposits	10,374	10,884	n/a	n/a
Short-term borrowings	898	893	n/a	n/a
Debt	347	347	n/a	n/a
Other liabilities	1,839	1,926	n/a	n/a
Total liabilities and equity	15,620	16,210	n/a	n/a
Goodwill	267	267	n/a	n/a
Intangible assets	7.4	7.9	n/a	n/a
Securities held for sale or to maturity	2,211	2,271	n/a	n/a
Cash and equivalents	855	1,781	n/a	n/a
Other assets	12,280	11,882	n/a	n/a
Total assets	15,620	16,210	n/a	n/a

Questions

What was Hilltop Holdings' revenue in Q2 FY2024?

Hilltop Holdings (HTH) reported revenue of $297 million for Q2 FY2024, the quarter ended 30 June 2024, down 3.9% on the same quarter a year earlier.

How much did Hilltop Holdings earn in Q2 FY2024?

Net income for Q2 FY2024 was $20 million, up 12.1% on the year, and diluted earnings per share $0.31.

When did Hilltop Holdings report Q2 FY2024 results?

Hilltop Holdings filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 2 August 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	312	290	285	297	305	301	318	303	330	330	301	316
Interest expense	101	106	106	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	52.5	38.1	38.1	29.6	42.4	44.2	57.6	49.5	60.8	53.1	50.4	50.0
Tax rate	25%	19%	22%	23%	22%	14%	23%	23%	23%	19%	23%	24%
Net income	37.0	28.7	27.7	20.3	29.7	35.5	42.1	36.1	45.8	41.6	37.8	36.5
Net margin	12%	10%	10%	7%	10%	12%	13%	12%	14%	13%	13%	12%
Diluted EPS	$0.57	$0.44	$0.42	$0.31	$0.46	$0.55	$0.65	$0.57	$0.74	$0.69	$0.64	$0.63
Operating cash flow	504	263	70.8	-435	516	123	5.8	-235	273	-82.9	-127	-157
Capital expenditure	2.5	2.4	2.4	1.9	1.8	0.9	0.8	n/a	2.0	14.1	6.6	5.4
Free cash flow	501	261	68.4	-437	514	122	5.0	n/a	271	-97.0	-134	-163
Buybacks	0.0	0.6	9.9	9.9	0.0	0.0	33.3	34.9	55.0	60.8	47.5	47.0
Dividends paid	10.4	10.4	11.1	11.1	11.0	11.0	11.6	11.5	11.2	11.0	11.8	11.6
Shares outstanding	65m	65m	65m	65m	65m	65m	64m	63m	61m	60m	59m	57m
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.

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 30 June 2024, filed 2 August 2024, accession 0001558370-24-010724: the filing on EDGAR. All of Hilltop Holdings Inc.'s filings: EDGAR company page.

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