Tompkins Financial (TMP) Q4 FY2023 earnings: revenue $71 million, down 5.9% on the year

Tompkins Financial Corp. (TMP) reported revenue of $71 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.9% on the same quarter a year earlier. Net income was $15 million, down 23.3% on the year, and diluted earnings per share $1.05. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue$71 milliondown 5.9%

Net income$15 milliondown 23.3%

Diluted EPS$1.05

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	71.2	9.4	n/a	n/a
Interest expense	28.4	24.5	n/a	n/a
Pre-tax income	18.1	-41.6	n/a	n/a
Income tax	3.1	-8.3	n/a	n/a
Effective tax rate	17.2%	n/a	n/a
Net income	15.0	-33.4	n/a	n/a
Net margin	21.1%	-355.2%	n/a
Diluted EPS	$1.05	-$2.35	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	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	18.9	25.3	n/a	n/a
Capital expenditure	1.5	2.0	n/a	n/a
Free cash flow	17.5	23.4	n/a	n/a
Cash from investing	-147	-39.9	n/a	n/a
Cash from financing	67.3	73.2	n/a	n/a
Share-based compensation	1.2	0.8	n/a	n/a
Buybacks	0.0	2.3	n/a	n/a
Dividends paid	8.5	8.6	n/a	n/a
Dividend per share	n/a	$0.60	n/a	n/a
Diluted shares, weighted	14m	14m	n/a	n/a
Shares outstanding at period end	14m	14m	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	669	611	n/a	n/a
Non-controlling interest	1.4	1.5	n/a	n/a
Deposits	6,400	6,623	n/a	n/a
Repurchase agreements	51.0	56.1	n/a	n/a
Other liabilities	699	399	n/a	n/a
Total liabilities and equity	7,820	7,691	n/a	n/a
Fixed assets	79.7	80.7	n/a	n/a
Goodwill	92.6	92.6	n/a	n/a
Intangible assets	2.3	2.4	n/a	n/a
Securities held for sale or to maturity	1,729	1,389	n/a	n/a
Loans	5,554	5,386	n/a	n/a
Cash and equivalents	79.5	140	n/a	n/a
Other assets	282	601	n/a	n/a
Total assets	7,820	7,691	n/a	n/a

Questions

What was Tompkins Financial's revenue in Q4 FY2023?

Tompkins Financial (TMP) reported revenue of $71 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.9% on the same quarter a year earlier.

How much did Tompkins Financial earn in Q4 FY2023?

Net income for Q4 FY2023 was $15 million, down 23.3% on the year, and diluted earnings per share $1.05.

When did Tompkins Financial report Q4 FY2023 results?

Tompkins Financial filed its 10-K for the year that ended with the quarter on 29 February 2024; the fourth quarter is the year less the first three.

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	9.4	71.2	72.8	72.7	76.6	77.1	81.7	82.6	87.4	195	83.7	87.1
Interest expense	24.5	28.4	32.5	34.3	35.9	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	-41.6	18.1	22.1	20.6	24.5	25.7	25.8	28.2	31.1	140	34.5	38.5
Tax rate	n/a	17%	24%	24%	24%	23%	24%	24%	24%	31%	24%	24%
Net income	-33.4	15.0	16.9	15.7	18.6	19.7	19.7	21.5	23.7	96.2	26.1	29.3
Net margin	-355%	21%	23%	22%	24%	25%	24%	26%	27%	49%	31%	34%
Diluted EPS	-$2.35	$1.05	$1.18	$1.10	$1.30	$1.37	$1.37	$1.50	$1.65	$6.70	$1.82	$2.04
Operating cash flow	25.3	18.9	23.2	27.3	21.2	23.2	22.2	18.9	34.9	-37.2	73.4	-15.1
Capital expenditure	2.0	1.5	1.4	1.0	2.3	1.6	1.4	0.7	1.0	3.9	2.3	2.0
Free cash flow	23.4	17.5	21.9	26.3	18.9	21.7	20.9	18.3	33.9	-41.1	71.1	-17.1
Buybacks	2.3	0.0	n/a	n/a	0.0	n/a	0.0	0.0	n/a	n/a	1.8	1.0
Dividends paid	8.6	8.5	8.5	8.7	8.7	9.1	8.8	8.9	8.8	9.6	9.5	9.6
Shares outstanding	14m	14m	14m	14m	14m	14m	14m	14m	14m	14m	14m	14m
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 2023, filed 29 February 2024, accession 0001005817-24-000008: the filing on EDGAR. All of Tompkins Financial Corp.'s filings: EDGAR company page.

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