NYSE$CPF

Central Pacific Financial Corp · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported net income of $16.2 million and solid asset quality.

Central Pacific Financial Corp. reported a net income of $16.2 million, or $0.60 per diluted share, for the first quarter of 2023. The company's asset quality remained strong, with nonperforming assets totaling $5.3 million, or 0.07% of total assets. The Board of Directors approved a quarterly cash dividend of $0.26 per share.

  • Net income of $16.2 million, or $0.60 per diluted share for the quarter.
  • ROA of 0.87% and ROE of 13.97% for the quarter.
  • Total loans of $5.56 billion increased by $1.9 million in the first quarter.
  • Total deposits of $6.75 billion increased by $10.7 million in the first quarter.

Headline financials

Total Revenue

$65.2M

Previous: $60.5M+7.8%
EPS (adj)

$0.60

Previous: $0.70-14.3%
Efficiency Ratio

64.6%

Previous: 63.2%+2.2%
Net Interest Margin

3.1%

Previous: 3.0%+3.7%
CET1 Capital Ratio

10.6%

Previous: 10.9%-2.8%
Tier 1 Risk-Based Capital Ratio

11.5%

Previous: 11.9%-3.4%
Total Risk-Based Capital Ratio

13.6%

Previous: 14.2%-4.2%
Leverage Ratio

8.6%

Previous: 8.5%+1.2%
Capital Expenditures

-$3.82M

Previous: -$858K-345.5%
Free Cash Flow

$12.4M

Previous: $18.6M-33.4%
Net Income

$16.2M

Previous: $19.4M-16.7%
Operating Income

$46.9M

Previous: $50.3M-6.8%
Gross Profit

$65.2M

Previous: $60.3M+8.2%
Cash & Equivalents

$199M

Previous: $202M-1.7%
Total Assets

$7.52B

Previous: $7.3B+3.0%
Stock-Based Comp

-$158K

Previous: $197K-180.2%

Revenue & EPS history

Central Pacific Financial · Revenue · Quarterly

$65.2M

Q1 2023+7.8%vs Q1 2022
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

This document may contain FLS concerning: projections of revenues, expenses, income or loss, earnings or loss per share, capital expenditures, the payment or nonpayment of dividends, capital position, credit losses, net interest margin or other financial items; statements of plans, objectives and expectations of Central Pacific Financial Corp. or its management or Board of Directors, including those relating to business plans, use of capital resources, products or services and regulatory developments and regulatory actions; statements of future economic performance including anticipated performance results from our business initiatives; or any statements of the assumptions underlying or relating to any of the foregoing.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.6%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+1.6%

Avg return

30 days after

53%

35 / 66 earnings

Positive

+15.9%

Q1 2010

Best reaction

-10.1%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.1%-3.1%-0.7%
Q4 2025+0.0%+4.1%+0.5%
Q3 2025-6.3%-4.2%-1.8%
Q2 2025-0.2%-0.8%+6.4%
Q1 2025+1.0%-1.2%+1.4%
Q4 2024+3.0%+2.4%+1.6%
Q3 2024-7.6%-7.8%+9.5%
Q2 2024-0.7%-4.5%+5.8%
Q1 2024+4.0%+1.4%+3.5%
Q4 2023-0.6%-4.4%-5.9%
Q3 2023+1.9%+1.9%+12.7%
Q2 2023-0.7%+0.2%-6.2%
Q1 2023+4.4%+3.8%+1.6%
Q4 2022+4.4%+4.5%+11.0%
Q3 2022-10.1%-12.1%-5.6%
Q2 2022+1.8%+2.3%-0.8%
Q1 2022-2.4%-7.0%-16.1%
Q4 2021-2.3%-1.9%-2.2%
Q3 2021+1.9%+4.1%+0.5%
Q2 2021+3.2%+1.0%+4.6%
Q1 2021+2.9%+5.3%+4.1%
Q4 2020+4.2%+6.3%+15.9%
Q3 2020-3.8%-2.5%+22.5%
Q2 2020+6.6%+3.9%+8.0%
Q1 2020+4.4%+6.7%+1.8%
Q4 2019+1.5%+1.5%-14.4%
Q3 2019-2.2%-1.3%-1.2%
Q2 2019-5.4%-3.5%-8.6%
Q1 2019+0.6%+1.3%-2.2%
Q4 2018+5.8%+6.9%+7.5%
Q3 2018+8.2%+8.9%+12.4%
Q2 2018-1.4%-4.3%-0.3%
Q1 2018-4.0%-6.3%-3.7%
Q4 2017-4.7%-3.8%-8.7%
Q3 2017-2.6%-5.0%-6.5%
Q2 2017-2.7%-2.5%-8.1%
Q1 2017+1.5%+1.4%-2.3%
Q4 2016+8.2%+2.7%+4.1%
Q3 2016+1.2%+1.6%+21.4%
Q2 2016+0.0%-0.6%+3.4%
Q1 2016+5.3%
Q4 2015+7.5%
Q3 2015+0.0%
Q2 2015-0.2%
Q1 2015-3.1%
Q4 2014+7.0%
Q3 2014-2.9%
Q2 2014-4.6%
Q1 2014+2.9%
Q4 2013-3.7%
Q3 2013-0.6%
Q2 2013-0.8%
Q1 2013+5.6%
Q4 2012+4.6%
Q3 2012-2.8%
Q2 2012+3.5%
Q1 2011-2.2%
Q1 2012+3.4%
Q4 2010+0.0%
Q4 2011+0.0%
Q4 2009+0.0%
Q3 2011+0.6%
Q3 2010+0.6%
Q2 2011-6.4%
Q2 2010-6.4%
Q1 2010+15.9%

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