BTI Q2 2018 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2018 Earnings

Reported June 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$15.7B	—	$10.0B	—	56.9%
Op. Income	$6.2B	—	$3.7B	—	66.2%
Gross Margin	80.4%	—	73.8%	—	6.6pp
Net Margin	23.1%	—	30.5%	—	-7.4pp
EPS (Diluted)	$1.60	—	$1.35	—	19.0%
Free Cash Flow	$4.9B	—	$2.0B	—	142.2%

Revenue Flow

Item	Amount
REVENUE	$15.7B
Cost of Revenue	$3.1B
GROSS PROFIT	$12.6B
R&D Expenses	$151M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$6.2B
Cost & Expenses	$9.3B
OPERATING INCOME	$6.2B
Interest Income	$1.0B
Interest Expense	$0
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$5.4B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$313M
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$553M
EBIT	$6.1B
EBITDA	$6.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$15.7B
Cost of Revenue	$3.1B
GROSS PROFIT	$12.6B
R&D Expenses	$151M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$6.2B
Cost & Expenses	$9.3B
OPERATING INCOME	$6.2B
Interest Income	$1.0B
Interest Expense	$0
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$5.4B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$313M
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$553M
EBIT	$6.1B
EBITDA	$6.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.6B
Depreciation & Amortization	$553M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$1.1B
Change in Working Capital	-$113M
OPERATING CASH FLOW	$5.2B
Capital Expenditure	-$276M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$108M
NET CASH FROM INVESTING	-$384M
Net Debt Issuance	-$1.9B
Common Stock Repurchased	-$193M
Common Dividends Paid	-$2.9B
Other Financing Activities	-$90M
NET CASH FROM FINANCING	-$6.1B
FREE CASH FLOW	$4.9B
Net Change in Cash	-$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.9B
Short-Term Investments	$253M
Net Receivables	$5.4B
Inventory	$8.5B
Other Current Assets	$332M
TOTAL CURRENT ASSETS	$17.4B
PP&E (Net)	$6.5B
Goodwill	$0
Intangible Assets	$161.8B
Long-Term Investments	$2.2B
Tax Assets	$570M
Other Non-Current Assets	$3.6B
TOTAL NON-CURRENT ASSETS	$174.7B
TOTAL ASSETS	$192.1B
Account Payables	$12.8B
Short-Term Debt	$7.1B
Deferred Revenue	$996M
Other Current Liabilities	$709M
TOTAL CURRENT LIABILITIES	$21.6B
Long-Term Debt	$58.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23.7B
Other Non-Current Liabilities	$4.0B
TOTAL NON-CURRENT LIABILITIES	$86.1B
TOTAL LIABILITIES	$107.7B
Common Stock	$828M
Additional Paid-In Capital	$35.9B
Retained Earnings	$50.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$3.3B
Other Equity	-$3.3B
TOTAL STOCKHOLDERS' EQUITY	$84.1B
Minority Interest	$294M
TOTAL EQUITY	$84.4B
TOTAL LIABILITIES & EQUITY	$192.1B
Total Debt	$65.4B
Net Debt	$62.5B