BMO Q1 2022 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q1 2022 Earnings

Reported March 1, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$6.1B	$5.7B	$6.1B	6.8%	-1.1%
Op. Income	$2.8B	$2.0B	$1.9B	39.2%	49.5%
Gross Margin	86.9%	85.3%	80.5%	1.6pp	6.4pp
Net Margin	35.3%	27.8%	24.0%	7.5pp	11.3pp
EPS (Diluted)	$3.24	$2.36	$2.21	37.2%	46.2%
Free Cash Flow	-$17.4B	$7.4B	$14.3B	-334.7%	-221.2%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$795M
GROSS PROFIT	$5.3B
R&D Expenses	$0
Selling & Marketing	$77M
General & Administrative	$1.7B
SG&A Expenses	$1.8B
Other Expenses	$615M
Operating Expenses	$2.4B
Cost & Expenses	$3.2B
OPERATING INCOME	$2.8B
Interest Income	$3.8B
Interest Expense	$867M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$703M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$273M
EBIT	$2.8B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$795M
GROSS PROFIT	$5.3B
R&D Expenses	$0
Selling & Marketing	$77M
General & Administrative	$1.7B
SG&A Expenses	$1.8B
Other Expenses	$615M
Operating Expenses	$2.4B
Cost & Expenses	$3.2B
OPERATING INCOME	$2.8B
Interest Income	$3.8B
Interest Expense	$867M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$703M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$273M
EBIT	$2.8B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$273M
Stock-Based Compensation	$0
Deferred Income Tax	$134M
Other Non-Cash Items	-$152M
Change in Working Capital	-$19.6B
OPERATING CASH FLOW	-$17.2B
Capital Expenditure	-$197M
Acquisitions (Net)	$890M
Purchases of Investments	-$39.0B
Sales/Maturities of Investments	$18.7B
Other Investing Activities	-$151M
NET CASH FROM INVESTING	-$19.6B
Net Debt Issuance	$2.4B
Common Stock Repurchased	$0
Common Dividends Paid	-$545M
Other Financing Activities	$2.8B
NET CASH FROM FINANCING	$4.6B
FREE CASH FLOW	-$17.4B
Net Change in Cash	-$31.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$42.9B
Short-Term Investments	$31.5B
Net Receivables	$1.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$75.5B
PP&E (Net)	$3.3B
Goodwill	$3.6B
Intangible Assets	$1.5B
Long-Term Investments	$463.1B
Tax Assets	$751M
Other Non-Current Assets	$199.8B
TOTAL NON-CURRENT ASSETS	$672.2B
TOTAL ASSETS	$747.7B
Account Payables	$0
Short-Term Debt	$145.2B
Deferred Revenue	$0
Other Current Liabilities	$424.0B
TOTAL CURRENT LIABILITIES	$569.2B
Long-Term Debt	$76.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$99M
Other Non-Current Liabilities	$58.4B
TOTAL NON-CURRENT LIABILITIES	$134.8B
TOTAL LIABILITIES	$704.0B
Common Stock	$10.0B
Additional Paid-In Capital	$233M
Retained Earnings	$27.4B
Treasury Stock	-$3M
Accum. Other Comp. Income	$2.0B
Other Equity	$1.4B
TOTAL STOCKHOLDERS' EQUITY	$43.7B
Minority Interest	$0
TOTAL EQUITY	$43.7B
TOTAL LIABILITIES & EQUITY	$747.7B
Total Debt	$221.5B
Net Debt	$178.6B