BMO Q1 2020 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q1 2020 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2020	Q4 2019	Q1 2019	QoQ Change	YoY Change
Revenue	$7.2B	$6.8B	$7.1B	5.1%	2.0%
Op. Income	$1.5B	$1.1B	$1.4B	33.1%	6.1%
Gross Margin	64.7%	61.9%	65.8%	2.8pp	-1.0pp
Net Margin	16.2%	12.7%	15.6%	3.4pp	0.5pp
EPS (Diluted)	$1.73	$1.30	$1.67	33.1%	3.9%
Free Cash Flow	$7.7B	$13.0B	$4.5B	-40.6%	72.0%

Revenue Flow

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$4.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.1B
SG&A Expenses	$2.1B
Other Expenses	$1.1B
Operating Expenses	$3.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$1.5B
Interest Income	$4.8B
Interest Expense	$2.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$308M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$18M
BOTTOM LINE NET INCOME	$1.1B
D&A	$295M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$4.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.1B
SG&A Expenses	$2.1B
Other Expenses	$1.1B
Operating Expenses	$3.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$1.5B
Interest Income	$4.8B
Interest Expense	$2.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$308M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$18M
BOTTOM LINE NET INCOME	$1.1B
D&A	$295M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$295M
Stock-Based Compensation	$0
Deferred Income Tax	$10M
Other Non-Cash Items	$208M
Change in Working Capital	$6.2B
OPERATING CASH FLOW	$7.9B
Capital Expenditure	-$186M
Acquisitions (Net)	$0
Purchases of Investments	-$13.9B
Sales/Maturities of Investments	$7.3B
Other Investing Activities	$533M
NET CASH FROM INVESTING	-$6.2B
Net Debt Issuance	-$1.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$519M
Other Financing Activities	-$2.0B
NET CASH FROM FINANCING	-$4.2B
FREE CASH FLOW	$7.7B
Net Change in Cash	-$2.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$38.7B
Short-Term Investments	$54.2B
Net Receivables	$1.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$94.0B
PP&E (Net)	$2.9B
Goodwill	$4.7B
Intangible Assets	$1.8B
Long-Term Investments	$359.9B
Tax Assets	$1.1B
Other Non-Current Assets	$178.4B
TOTAL NON-CURRENT ASSETS	$548.8B
TOTAL ASSETS	$642.9B
Account Payables	$0
Short-Term Debt	$128.9B
Deferred Revenue	$0
Other Current Liabilities	$332.0B
TOTAL CURRENT LIABILITIES	$460.9B
Long-Term Debt	$82.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$45M
Other Non-Current Liabilities	$61.1B
TOTAL NON-CURRENT LIABILITIES	$143.8B
TOTAL LIABILITIES	$604.8B
Common Stock	$9.5B
Additional Paid-In Capital	$221M
Retained Earnings	$21.6B
Treasury Stock	$0
Accum. Other Comp. Income	$2.9B
Other Equity	$481M
TOTAL STOCKHOLDERS' EQUITY	$38.1B
Minority Interest	$0
TOTAL EQUITY	$38.1B
TOTAL LIABILITIES & EQUITY	$642.9B
Total Debt	$211.7B
Net Debt	$173.0B