BLX Q1 2023 Earnings Report — Banco Latinoamericano de Comercio Exterior, S. A. Revenue & Financial Results | Market Cap Arena

Banco Latinoamericano de Comercio Exterior, S. A.BLX

Q1 2023 Earnings

Reported March 31, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$150M	$114M	$40M	31.4%	270.8%
Op. Income	$37M	$31M	$11M	19.1%	232.4%
Gross Margin	35.2%	23.6%	54.8%	11.7pp	-19.5pp
Net Margin	24.6%	27.2%	27.5%	-2.5pp	-2.9pp
EPS (Diluted)	$1.02	$0.85	$0.31	20.0%	229.0%
Free Cash Flow	$518M	$160M	-$482M	223.9%	207.5%

Revenue Flow

Item	Amount
REVENUE	$150M
Cost of Revenue	$97M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$6M
Operating Expenses	$16M
Cost & Expenses	$113M
OPERATING INCOME	$37M
Interest Income	$143M
Interest Expense	$91M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$0
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$37M
D&A	$735.0K
EBIT	$37M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$150M
Cost of Revenue	$97M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$6M
Operating Expenses	$16M
Cost & Expenses	$113M
OPERATING INCOME	$37M
Interest Income	$143M
Interest Expense	$91M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$0
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$37M
D&A	$735.0K
EBIT	$37M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$37M
Depreciation & Amortization	$735.0K
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	-$370.0K
Change in Working Capital	$479M
OPERATING CASH FLOW	$518M
Capital Expenditure	-$595.0K
Acquisitions (Net)	$0
Purchases of Investments	-$63M
Sales/Maturities of Investments	$140M
Other Investing Activities	-$450.0K
NET CASH FROM INVESTING	$77M
Net Debt Issuance	-$559M
Common Stock Repurchased	$0
Common Dividends Paid	-$9M
Other Financing Activities	$47M
NET CASH FROM FINANCING	-$521M
FREE CASH FLOW	$518M
Net Change in Cash	$74M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$95M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$17M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$7.7B
Tax Assets	$0
Other Non-Current Assets	$140M
TOTAL NON-CURRENT ASSETS	$7.8B
TOTAL ASSETS	$9.2B
Account Payables	$76M
Short-Term Debt	$2.1B
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$178M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$8.2B
Common Stock	$280M
Additional Paid-In Capital	$120M
Retained Earnings	$571M
Treasury Stock	-$112M
Accum. Other Comp. Income	$236M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$9.2B
Total Debt	$4.3B
Net Debt	$3.0B