BLX Q2 2023 Earnings Report — Banco Latinoamericano de Comercio Exterior, S. A. Revenue & Financial Results | Market Cap Arena

Banco Latinoamericano de Comercio Exterior, S. A.BLX

Q2 2023 Earnings

Reported August 3, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$162M	$150M	$68M	8.3%	137.9%
Op. Income	$37M	$37M	$23M	0.3%	61.0%
Gross Margin	32.4%	35.2%	52.9%	-2.8pp	-20.4pp
Net Margin	22.8%	24.6%	33.7%	-1.8pp	-10.9pp
EPS (Diluted)	$1.02	$1.02	$0.63	0.0%	61.9%
Free Cash Flow	$468M	$518M	-$439M	-9.6%	206.4%

Revenue Flow

Item	Amount
REVENUE	$162M
Cost of Revenue	$110M
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	$125M
OPERATING INCOME	$37M
Interest Income	$160M
Interest Expense	$105M
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	$741.0K
EBIT	$37M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$162M
Cost of Revenue	$110M
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	$125M
OPERATING INCOME	$37M
Interest Income	$160M
Interest Expense	$105M
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	$741.0K
EBIT	$37M
EBITDA	$38M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$37M
Depreciation & Amortization	$741.0K
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	$55M
Change in Working Capital	$374M
OPERATING CASH FLOW	$468M
Capital Expenditure	-$360.0K
Acquisitions (Net)	$0
Purchases of Investments	-$262M
Sales/Maturities of Investments	$188M
Other Investing Activities	-$78.0K
NET CASH FROM INVESTING	-$74M
Net Debt Issuance	$48M
Common Stock Repurchased	$0
Common Dividends Paid	-$9M
Other Financing Activities	$60M
NET CASH FROM FINANCING	$98M
FREE CASH FLOW	$468M
Net Change in Cash	$493M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$0
Net Receivables	$87M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$17M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$7.9B
Tax Assets	$0
Other Non-Current Assets	$314M
TOTAL NON-CURRENT ASSETS	$8.2B
TOTAL ASSETS	$10.1B
Account Payables	$85M
Short-Term Debt	$2.2B
Deferred Revenue	$0
Other Current Liabilities	$4.1B
TOTAL CURRENT LIABILITIES	$6.4B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$361M
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$9.0B
Common Stock	$280M
Additional Paid-In Capital	$120M
Retained Earnings	$599M
Treasury Stock	-$111M
Accum. Other Comp. Income	$239M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$10.1B
Total Debt	$4.5B
Net Debt	$2.7B