BMO Q3 2020 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q3 2020 Earnings

Reported August 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2020	Q2 2020	Q3 2019	QoQ Change	YoY Change
Revenue	$6.7B	$5.9B	$7.4B	12.9%	-10.1%
Op. Income	$1.1B	$604M	$1.4B	81.6%	-24.2%
Gross Margin	66.8%	53.4%	62.5%	13.4pp	4.4pp
Net Margin	13.5%	8.5%	15.4%	5.0pp	-1.8pp
EPS (Diluted)	$1.32	$0.73	$1.71	81.0%	-22.6%
Free Cash Flow	$17.2B	$24.2B	$6.6B	-28.9%	159.8%

Revenue Flow

Item	Amount
REVENUE	$6.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.3B
SG&A Expenses	$2.3B
Other Expenses	$1.0B
Operating Expenses	$3.3B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.1B
Interest Income	$4.0B
Interest Expense	$1.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$197M
Net Income from Continuing Ops	$900M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$900M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$847M
D&A	$292M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.3B
SG&A Expenses	$2.3B
Other Expenses	$1.0B
Operating Expenses	$3.3B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.1B
Interest Income	$4.0B
Interest Expense	$1.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$197M
Net Income from Continuing Ops	$900M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$900M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$847M
D&A	$292M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$900M
Depreciation & Amortization	$292M
Stock-Based Compensation	$0
Deferred Income Tax	-$66M
Other Non-Cash Items	$748M
Change in Working Capital	$15.5B
OPERATING CASH FLOW	$17.4B
Capital Expenditure	-$145M
Acquisitions (Net)	$0
Purchases of Investments	-$14.9B
Sales/Maturities of Investments	$7.5B
Other Investing Activities	-$786M
NET CASH FROM INVESTING	-$8.3B
Net Debt Issuance	-$148M
Common Stock Repurchased	$0
Common Dividends Paid	-$377M
Other Financing Activities	-$3.9B
NET CASH FROM FINANCING	-$4.4B
FREE CASH FLOW	$17.2B
Net Change in Cash	$3.7B

Balance Sheet

Item	Amount
Cash & Equivalents	$62.1B
Short-Term Investments	$57.4B
Net Receivables	$1.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$120.7B
PP&E (Net)	$2.8B
Goodwill	$4.8B
Intangible Assets	$1.8B
Long-Term Investments	$397.8B
Tax Assets	$1.1B
Other Non-Current Assets	$182.4B
TOTAL NON-CURRENT ASSETS	$590.7B
TOTAL ASSETS	$711.4B
Account Payables	$0
Short-Term Debt	$121.0B
Deferred Revenue	$0
Other Current Liabilities	$397.5B
TOTAL CURRENT LIABILITIES	$518.5B
Long-Term Debt	$85.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$60M
Other Non-Current Liabilities	$67.1B
TOTAL NON-CURRENT LIABILITIES	$153.0B
TOTAL LIABILITIES	$671.5B
Common Stock	$9.7B
Additional Paid-In Capital	$221M
Retained Earnings	$21.9B
Treasury Stock	-$11M
Accum. Other Comp. Income	$4.3B
Other Equity	$481M
TOTAL STOCKHOLDERS' EQUITY	$39.9B
Minority Interest	$0
TOTAL EQUITY	$39.9B
TOTAL LIABILITIES & EQUITY	$711.4B
Total Debt	$206.9B
Net Debt	$144.8B