BMO Q2 2017 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q2 2017 Earnings

Reported May 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2017	Q1 2017	Q2 2016	QoQ Change	YoY Change
Revenue	$5.1B	$4.7B	$4.6B	9.5%	11.8%
Op. Income	$1.1B	$1.4B	$863M	-19.0%	26.8%
Gross Margin	77.5%	77.8%	78.8%	-0.3pp	-1.3pp
Net Margin	17.7%	23.2%	15.5%	-5.4pp	2.3pp
EPS (Diluted)	$1.34	$1.62	$1.06	-17.1%	26.9%
Free Cash Flow	-$554M	$5.7B	-$2.3B	-109.7%	76.0%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.1B
Operating Expenses	$2.9B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.1B
Interest Income	$2.7B
Interest Expense	$973M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$183M
Net Income from Continuing Ops	$912M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$911M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$881M
D&A	$201M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.1B
Operating Expenses	$2.9B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.1B
Interest Income	$2.7B
Interest Expense	$973M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$183M
Net Income from Continuing Ops	$912M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$911M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$881M
D&A	$201M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$911M
Depreciation & Amortization	$201M
Stock-Based Compensation	$0
Deferred Income Tax	-$95M
Other Non-Cash Items	$143M
Change in Working Capital	-$1.6B
OPERATING CASH FLOW	-$433M
Capital Expenditure	-$121M
Acquisitions (Net)	-$18M
Purchases of Investments	-$6.0B
Sales/Maturities of Investments	$6.6B
Other Investing Activities	-$227M
NET CASH FROM INVESTING	$373M
Net Debt Issuance	-$73M
Common Stock Repurchased	$0
Common Dividends Paid	-$293M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$45M
FREE CASH FLOW	-$554M
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$30.6B
Short-Term Investments	$13.8B
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$45.5B
PP&E (Net)	$1.5B
Goodwill	$4.8B
Intangible Assets	$1.6B
Long-Term Investments	$332.4B
Tax Assets	$2.3B
Other Non-Current Assets	$137.3B
TOTAL NON-CURRENT ASSETS	$479.9B
TOTAL ASSETS	$525.4B
Account Payables	$0
Short-Term Debt	$45.3B
Deferred Revenue	$0
Other Current Liabilities	$374.3B
TOTAL CURRENT LIABILITIES	$419.7B
Long-Term Debt	$19.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$178M
Other Non-Current Liabilities	$53.3B
TOTAL NON-CURRENT LIABILITIES	$72.9B
TOTAL LIABILITIES	$492.6B
Common Stock	$9.6B
Additional Paid-In Capital	$224M
Retained Earnings	$16.6B
Treasury Stock	$0
Accum. Other Comp. Income	$3.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$32.8B
Minority Interest	$0
TOTAL EQUITY	$32.8B
TOTAL LIABILITIES & EQUITY	$525.4B
Total Debt	$64.8B
Net Debt	$34.1B