BMO Q3 2019 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q3 2019 Earnings

Reported August 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$7.4B	$6.9B	$6.1B	7.3%	21.8%
Op. Income	$1.4B	$1.4B	$1.4B	5.4%	0.1%
Gross Margin	62.5%	63.4%	66.9%	-0.9pp	-4.4pp
Net Margin	15.4%	15.9%	18.5%	-0.5pp	-3.1pp
EPS (Diluted)	$1.71	$1.65	$1.69	3.5%	1.3%
Free Cash Flow	$6.6B	-$3.5B	$4.6B	288.2%	42.7%

Revenue Flow

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$2.8B
GROSS PROFIT	$4.6B
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	$6.0B
OPERATING INCOME	$1.4B
Interest Income	$4.9B
Interest Expense	$2.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$311M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$220M
EBIT	$1.4B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$2.8B
GROSS PROFIT	$4.6B
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	$6.0B
OPERATING INCOME	$1.4B
Interest Income	$4.9B
Interest Expense	$2.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$311M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$220M
EBIT	$1.4B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$220M
Stock-Based Compensation	$0
Deferred Income Tax	$61M
Other Non-Cash Items	$158M
Change in Working Capital	$5.3B
OPERATING CASH FLOW	$6.8B
Capital Expenditure	-$197M
Acquisitions (Net)	$0
Purchases of Investments	-$12.2B
Sales/Maturities of Investments	$7.6B
Other Investing Activities	$259M
NET CASH FROM INVESTING	-$4.4B
Net Debt Issuance	$569M
Common Stock Repurchased	$0
Common Dividends Paid	-$502M
Other Financing Activities	$56M
NET CASH FROM FINANCING	$617M
FREE CASH FLOW	$6.6B
Net Change in Cash	$2.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$33.5B
Short-Term Investments	$49.3B
Net Receivables	$919M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$83.7B
PP&E (Net)	$1.5B
Goodwill	$4.6B
Intangible Assets	$1.7B
Long-Term Investments	$343.8B
Tax Assets	$1.2B
Other Non-Current Assets	$176.8B
TOTAL NON-CURRENT ASSETS	$529.6B
TOTAL ASSETS	$613.3B
Account Payables	$0
Short-Term Debt	$123.4B
Deferred Revenue	$0
Other Current Liabilities	$303.3B
TOTAL CURRENT LIABILITIES	$426.7B
Long-Term Debt	$87.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$54M
Other Non-Current Liabilities	$62.4B
TOTAL NON-CURRENT LIABILITIES	$149.5B
TOTAL LIABILITIES	$576.2B
Common Stock	$9.5B
Additional Paid-In Capital	$221M
Retained Earnings	$20.6B
Treasury Stock	-$15M
Accum. Other Comp. Income	$2.8B
Other Equity	$15M
TOTAL STOCKHOLDERS' EQUITY	$37.0B
Minority Interest	$0
TOTAL EQUITY	$37.0B
TOTAL LIABILITIES & EQUITY	$613.3B
Total Debt	$210.4B
Net Debt	$176.9B