Hancock Whitney (HWC) Q4 FY2024 earnings: revenue $365 million, up 18.3% on the year

Hancock Whitney Corp. (HWC) reported revenue of $365 million for Q4 FY2024, the quarter ended 31 December 2024, up 18.3% on the same quarter a year earlier. Net income was $122 million, up 141.2% on the year, and diluted earnings per share $1.40. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue$365 millionup 18.3%

Net income$122 millionup 141.2%

Diluted EPS$1.40

QuarterQ4 FY2024ended 31 December 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	Q4 FY2023	Change on the year
Revenue	365	368	308	+18.3%
Interest expense	n/a	n/a	157	n/a
Pre-tax income	151	145	62.3	+141.6%
Income tax	28.4	29.7	11.7	+143.0%
Effective tax rate	18.9%	20.4%	18.8%
Net income	122	116	50.6	+141.2%
Net margin	33.5%	31.4%	16.4%
Diluted EPS	$1.40	$1.33	$0.58	+141.4%

$ 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	Q4 FY2024	Q3 FY2024	Q4 FY2023	Change on the year
Operating cash flow	192	162	92.8	+106.3%
Capital expenditure	2.7	3.9	0.5	+504.2%
Free cash flow	189	159	92.4	+104.4%
Cash from investing	-25.5	271	856	n/a
Cash from financing	-161	-365	-929	n/a
Depreciation and amortisation	7.8	8.2	8.5	-9.0%
Share-based compensation	5.5	5.4	6.0	-7.4%
Buybacks	7.9	15.2	n/a	n/a
Dividends paid	34.7	34.8	26.2	+32.6%
Dividend per share	n/a	$0.40	n/a	n/a
Diluted shares, weighted	87m	87m	86m	+0.3%
Shares outstanding at period end	86m	86m	86m	-0.3%

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 FY2024	Q3 FY2024	Q4 FY2023	Change on the year
Shareholders' equity	4,128	4,175	3,804	+8.5%
Deposits	29,493	28,983	29,690	-0.7%
Short-term borrowings	639	1,266	1,155	-44.7%
Debt	211	236	236	-10.9%
Other liabilities	612	578	694	-11.8%
Total liabilities and equity	35,082	35,238	35,579	-1.4%
Fixed assets	280	285	302	-7.3%
Goodwill	855	855	855	+0.0%
Intangible assets	35.2	37.4	44.6	-21.1%
Securities held for sale or to maturity	7,597	7,770	7,600	-0.0%
Trading assets	0.0	0.0	0.0	n/a
Cash and equivalents	575	570	561	+2.4%
Other assets	25,739	25,721	26,216	-1.8%
Total assets	35,082	35,238	35,579	-1.4%

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	355	308	354	360	368	365	365	375	386	389	293	401
Interest expense	147	157	156	157	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	122	62.3	133	145	145	151	149	145	160	158	58.7	162
Tax rate	20%	19%	19%	21%	20%	19%	20%	21%	21%	21%	19%	22%
Net income	97.7	50.6	109	115	116	122	120	114	127	126	47.4	127
Net margin	28%	16%	31%	32%	31%	33%	33%	30%	33%	32%	16%	32%
Diluted EPS	$1.12	$0.58	$1.24	$1.31	$1.33	$1.40	$1.38	$1.32	$1.49	$1.49	$0.57	$1.55
Operating cash flow	188	92.8	167	105	162	192	104	126	159	153	114	151
Capital expenditure	6.3	0.5	2.3	1.3	3.9	2.7	4.0	3.8	3.8	7.1	5.9	0.9
Free cash flow	181	92.4	164	104	159	189	100	122	155	146	108	150
Buybacks	0.0	n/a	0.0	14.6	15.2	7.9	20.7	39.4	40.1	147	94.6	46.5
Dividends paid	26.2	26.2	26.5	34.9	34.8	34.7	39.6	38.7	38.4	37.2	42.1	40.5
Shares outstanding	86m	86m	87m	86m	86m	86m	86m	85m	85m	82m	81m	80m
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-K for the period ended 31 December 2024, filed 27 February 2025, accession 0000950170-25-028009: the filing on EDGAR. All of Hancock Whitney Corp.'s filings: EDGAR company page.

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