BTI Q2 2017 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2017 Earnings

Reported June 30, 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	$10.0B	—	$9.0B	—	11.2%
Op. Income	$3.7B	—	$3.2B	—	16.9%
Gross Margin	73.8%	—	75.7%	—	-1.8pp
Net Margin	30.5%	—	40.1%	—	-9.6pp
EPS (Diluted)	$1.35	—	$1.59	—	-15.3%
Free Cash Flow	$2.0B	—	$1.3B	—	61.5%

Revenue Flow

Item	Amount
REVENUE	$10.0B
Cost of Revenue	$2.6B
GROSS PROFIT	$7.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$0
Operating Expenses	$2.9B
Cost & Expenses	$5.5B
OPERATING INCOME	$3.7B
Interest Income	$419M
Interest Expense	$0
Other Income/Expenses	-$620M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$917M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0B
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$458M
EBIT	$3.5B
EBITDA	$4.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$10.0B
Cost of Revenue	$2.6B
GROSS PROFIT	$7.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$0
Operating Expenses	$2.9B
Cost & Expenses	$5.5B
OPERATING INCOME	$3.7B
Interest Income	$419M
Interest Expense	$0
Other Income/Expenses	-$620M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$917M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0B
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$458M
EBIT	$3.5B
EBITDA	$4.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$3.0B
Depreciation & Amortization	$458M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$1.4B
Change in Working Capital	$200M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$267M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$133M
NET CASH FROM INVESTING	-$400M
Net Debt Issuance	$2.0B
Common Stock Repurchased	-$290M
Common Dividends Paid	-$2.9B
Other Financing Activities	-$286M
NET CASH FROM FINANCING	-$2.0B
FREE CASH FLOW	$2.0B
Net Change in Cash	-$325M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.7B
Short-Term Investments	$35M
Net Receivables	$5.2B
Inventory	$7.0B
Other Current Assets	$565M
TOTAL CURRENT ASSETS	$15.5B
PP&E (Net)	$4.9B
Goodwill	$0
Intangible Assets	$16.4B
Long-Term Investments	$12.7B
Tax Assets	$631M
Other Non-Current Assets	$2.7B
TOTAL NON-CURRENT ASSETS	$37.4B
TOTAL ASSETS	$52.8B
Account Payables	$8.0B
Short-Term Debt	$7.8B
Deferred Revenue	$839M
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$17.8B
Long-Term Debt	$20.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$888M
Other Non-Current Liabilities	$3.2B
TOTAL NON-CURRENT LIABILITIES	$24.4B
TOTAL LIABILITIES	$42.2B
Common Stock	$684M
Additional Paid-In Capital	$5.3B
Retained Earnings	$4.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$150M
Other Equity	-$150M
TOTAL STOCKHOLDERS' EQUITY	$10.4B
Minority Interest	$259M
TOTAL EQUITY	$10.7B
TOTAL LIABILITIES & EQUITY	$52.8B
Total Debt	$28.2B
Net Debt	$25.5B