BMO Q1 2018 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q1 2018 Earnings

Reported February 12, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$5.5B	$5.3B	$4.7B	2.8%	16.4%
Op. Income	$1.3B	$1.1B	$1.4B	15.3%	-6.1%
Gross Margin	73.0%	74.3%	77.8%	-1.3pp	-4.8pp
Net Margin	13.0%	16.9%	23.2%	-3.9pp	-10.1pp
EPS (Diluted)	$1.05	$1.32	$1.62	-21.0%	-35.6%
Free Cash Flow	$5.9B	-$3.3B	$5.7B	277.0%	2.7%

Revenue Flow

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$1.5B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.0B
Operating Expenses	$2.7B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.3B
Interest Income	$3.5B
Interest Expense	$1.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$558M
Net Income from Continuing Ops	$711M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$711M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$678M
D&A	$204M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$1.5B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.0B
Operating Expenses	$2.7B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.3B
Interest Income	$3.5B
Interest Expense	$1.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$558M
Net Income from Continuing Ops	$711M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$711M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$678M
D&A	$204M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$711M
Depreciation & Amortization	$204M
Stock-Based Compensation	$0
Deferred Income Tax	$443M
Other Non-Cash Items	$54M
Change in Working Capital	$4.6B
OPERATING CASH FLOW	$6.0B
Capital Expenditure	-$144M
Acquisitions (Net)	$0
Purchases of Investments	-$6.1B
Sales/Maturities of Investments	$6.9B
Other Investing Activities	-$455M
NET CASH FROM INVESTING	$215M
Net Debt Issuance	$730M
Common Stock Repurchased	-$215M
Common Dividends Paid	-$461M
Other Financing Activities	$593M
NET CASH FROM FINANCING	$683M
FREE CASH FLOW	$5.9B
Net Change in Cash	$6.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$35.0B
Short-Term Investments	$36.4B
Net Receivables	$1.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$72.9B
PP&E (Net)	$1.4B
Goodwill	$4.4B
Intangible Assets	$1.6B
Long-Term Investments	$299.3B
Tax Assets	$1.6B
Other Non-Current Assets	$150.7B
TOTAL NON-CURRENT ASSETS	$459.1B
TOTAL ASSETS	$531.9B
Account Payables	$0
Short-Term Debt	$52.8B
Deferred Revenue	$0
Other Current Liabilities	$366.8B
TOTAL CURRENT LIABILITIES	$419.6B
Long-Term Debt	$21.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$151M
Other Non-Current Liabilities	$59.0B
TOTAL NON-CURRENT LIABILITIES	$81.0B
TOTAL LIABILITIES	$500.6B
Common Stock	$9.5B
Additional Paid-In Capital	$224M
Retained Earnings	$17.5B
Treasury Stock	$0
Accum. Other Comp. Income	$994M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$31.3B
Minority Interest	$0
TOTAL EQUITY	$31.3B
TOTAL LIABILITIES & EQUITY	$531.9B
Total Debt	$74.7B
Net Debt	$39.7B