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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 508M | 1.3% |
| Gross Profit | 175M | 8.4% |
| Cost of Revenue | 333M | 2.1% |
| Operating expense | 37M | 33.9% |
| Net Income | 145M | 7.2% |
| EBITDA | 395M | 4.8% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 48.8B | 1.3% |
| Total Liabilities | 45.2B | 1.5% |
| Total Equity | 3.67B | 0.8% |
| Shares Outstanding | 64M | 0% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 130M | 73.5% |
| Cash from investing | -686M | 210.6% |
| Cash from financing | -763M | 42.7% |
EPS
Financial Highlights for Cullen Frost Bankers in Q2 '24
Cullen Frost Bankers reported a revenue of 508M, which is a 1.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 175M, marking a 8.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 333M, a -2.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 37M, showing a -33.9% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 145M, showing a 7.2% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 395M, showing a 4.8% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Cullen Frost Bankers with growth in revenue, gross profit, and net income.
