Southside Bancshares (SBSI) Q3 FY2023 earnings: revenue $64 million, down 2.5% on the year

Southside Bancshares Inc. (SBSI) reported revenue of $64 million for Q3 FY2023, the quarter ended 30 September 2023, down 2.5% on the same quarter a year earlier. Net income was $18 million, down 31.5% on the year, and diluted earnings per share $0.60. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2023.

Revenue$64 milliondown 2.5%

Net income$18 milliondown 31.5%

Diluted EPS$0.60

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	64.1	n/a	n/a	n/a
Interest expense	39.8	n/a	n/a	n/a
Pre-tax income	21.6	n/a	n/a	n/a
Income tax	3.1	n/a	n/a	n/a
Effective tax rate	14.5%	n/a	n/a
Net income	18.4	n/a	n/a	n/a
Net margin	28.8%	n/a	n/a
Diluted EPS	$0.60	n/a	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	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	78.4	n/a	n/a	n/a
Capital expenditure	1.9	n/a	n/a	n/a
Free cash flow	76.5	n/a	n/a	n/a
Cash from investing	-100	n/a	n/a	n/a
Cash from financing	141	n/a	n/a	n/a
Depreciation and amortisation	2.7	n/a	n/a	n/a
Share-based compensation	0.9	n/a	n/a	n/a
Buybacks	5.6	n/a	n/a	n/a
Dividends paid	10.7	n/a	n/a	n/a
Dividend per share	$0.35	n/a	n/a	n/a
Diluted shares, weighted	31m	n/a	n/a	n/a
Shares outstanding at period end	30m	n/a	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	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	729	n/a	n/a	n/a
Deposits	6,350	n/a	n/a	n/a
Repurchase agreements	395	n/a	n/a	n/a
Debt	154	n/a	n/a	n/a
Other liabilities	345	n/a	n/a	n/a
Total liabilities and equity	7,972	n/a	n/a	n/a
Fixed assets	139	n/a	n/a	n/a
Goodwill	201	n/a	n/a	n/a
Intangible assets	3.3	n/a	n/a	n/a
Securities held for sale or to maturity	2,643	n/a	n/a	n/a
Loans	4,379	n/a	n/a	n/a
Cash and equivalents	326	n/a	n/a	n/a
Other assets	280	n/a	n/a	n/a
Total assets	7,972	n/a	n/a	n/a

Questions

What was Southside Bancshares' revenue in Q3 FY2023?

Southside Bancshares (SBSI) reported revenue of $64 million for Q3 FY2023, the quarter ended 30 September 2023, down 2.5% on the same quarter a year earlier.

How much did Southside Bancshares earn in Q3 FY2023?

Net income for Q3 FY2023 was $18 million, down 31.5% on the year, and diluted earnings per share $0.60.

When did Southside Bancshares report Q3 FY2023 results?

Southside Bancshares filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 27 October 2023.

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	64.1	57.0	63.1	65.2	63.6	66.0	64.1	66.4	43.7	62.8	70.3	71.3
Interest expense	39.8	44.5	49.4	50.6	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	21.6	19.5	26.1	29.9	24.9	26.4	26.2	26.5	5.1	24.8	28.3	32.6
Tax rate	14%	11%	18%	17%	18%	18%	18%	18%	4%	15%	18%	18%
Net income	18.4	17.3	21.5	24.7	20.5	21.8	21.5	21.8	4.9	21.0	23.3	26.8
Net margin	29%	30%	34%	38%	32%	33%	34%	33%	11%	33%	33%	38%
Diluted EPS	$0.60	$0.58	$0.71	$0.81	$0.68	$0.71	$0.71	$0.72	$0.16	$0.70	$0.78	$0.90
Operating cash flow	78.4	-56.6	58.3	16.5	-11.7	38.8	23.9	5.9	40.2	23.7	49.0	32.2
Capital expenditure	1.9	1.8	2.6	1.1	2.4	5.1	2.4	7.9	2.8	7.1	4.0	4.7
Free cash flow	76.5	-58.4	55.7	15.4	-14.2	33.7	21.5	-2.0	37.4	16.6	45.0	27.5
Buybacks	5.6	4.7	0.0	1.5	0.0	-0.0	n/a	n/a	1.5	n/a	n/a	n/a
Dividends paid	10.7	11.2	10.9	10.9	10.9	10.9	10.9	10.9	10.8	10.7	10.7	10.7
Shares outstanding	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m
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. 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 September 2023, filed 27 October 2023, accession 0000705432-23-000184: the filing on EDGAR. All of Southside Bancshares Inc.'s filings: EDGAR company page.

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