GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First BanCorp (OTCPK:FBPRP.PFD) » Definitions » Net Income

FBPRP.PFD (First BanCorp) Net Income : $302.51 Mil (TTM As of Jun. 2024)


View and export this data going back to 2012. Start your Free Trial

What is First BanCorp Net Income?

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. First BanCorp's Net Income for the three months ended in Jun. 2024 was $75.84 Mil. Its Net Income for the trailing twelve months (TTM) ended in Jun. 2024 was $302.51 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. First BanCorp's Earnings per Share (Diluted) for the three months ended in Jun. 2024 was $.


First BanCorp Net Income Historical Data

The historical data trend for First BanCorp's Net Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First BanCorp Net Income Chart

First BanCorp Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 167.38 102.27 281.03 305.07 302.86

First BanCorp Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Net Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 82.02 79.49 73.46 75.84 73.73

First BanCorp Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

First BanCorp's Net Income for the fiscal year that ended in Dec. 2023 is calculated as

Net Income(A: Dec. 2023 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=397.436+-94.572+0+0
=302.86

First BanCorp's Net Income for the quarter that ended in Jun. 2024 is calculated as

Net Income(Q: Jun. 2024 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=101.379+-25.541+0+-1.4210854715202E-14
=75.84

Net Income for the trailing twelve months (TTM) ended in Jun. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $302.51 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


First BanCorp  (OTCPK:FBPRP.PFD) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

First BanCorp's Earnings per Share (Diluted) (EPS) for the quarter that ended in Jun. 2024 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


First BanCorp Net Income Related Terms

Thank you for viewing the detailed overview of First BanCorp's Net Income provided by GuruFocus.com. Please click on the following links to see related term pages.


First BanCorp Business Description

Traded in Other Exchanges
Address
1519 Ponce de Leon Avenue, Stop 23, San Juan, PRI, 00908
First BanCorp is a financial holding company. The company's operating segment includes Commercial and Corporate Banking; Mortgage Banking; Consumer (Retail) Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. It generates maximum revenue from the Consumer (Retail) Banking segment. The Consumer (Retail) Banking segment generates majority revenue, which consists of the Corporation's consumer lending and deposit-taking activities conducted mainly through its branch network and loan centres. Geographically, it derives a majority of revenue from Puerto Rico.

First BanCorp Headlines