BTI Q2 2020 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2020 Earnings

Reported June 30, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2020	Q1 2020	Q2 2019	QoQ Change	YoY Change
Revenue	$16.5B	—	$16.4B	—	0.8%
Op. Income	$7.0B	—	$6.2B	—	12.9%
Gross Margin	83.7%	—	83.0%	—	0.7pp
Net Margin	28.2%	—	23.1%	—	5.0pp
EPS (Diluted)	$2.04	—	$1.67	—	21.8%
Free Cash Flow	$3.4B	—	$1.8B	—	92.8%

Revenue Flow

Item	Amount
REVENUE	$16.5B
Cost of Revenue	$2.7B
GROSS PROFIT	$13.8B
R&D Expenses	$185M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$57M
Operating Expenses	$6.6B
Cost & Expenses	$9.3B
OPERATING INCOME	$7.0B
Interest Income	$1.1B
Interest Expense	$0
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.2B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$379M
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$700M
EBIT	$6.9B
EBITDA	$7.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$16.5B
Cost of Revenue	$2.7B
GROSS PROFIT	$13.8B
R&D Expenses	$185M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$57M
Operating Expenses	$6.6B
Cost & Expenses	$9.3B
OPERATING INCOME	$7.0B
Interest Income	$1.1B
Interest Expense	$0
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.2B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$379M
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$700M
EBIT	$6.9B
EBITDA	$7.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$4.7B
Depreciation & Amortization	$700M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$3.1B
Change in Working Capital	-$2.2B
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$227M
Acquisitions (Net)	$27M
Purchases of Investments	-$247M
Sales/Maturities of Investments	$131M
Other Investing Activities	-$150M
NET CASH FROM INVESTING	-$315M
Net Debt Issuance	$3.2B
Common Stock Repurchased	-$23M
Common Dividends Paid	-$3.2B
Other Financing Activities	-$217M
NET CASH FROM FINANCING	-$177M
FREE CASH FLOW	$3.4B
Net Change in Cash	$3.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.5B
Short-Term Investments	$247M
Net Receivables	$7.6B
Inventory	$9.2B
Other Current Assets	$433M
TOTAL CURRENT ASSETS	$22.3B
PP&E (Net)	$7.3B
Goodwill	$0
Intangible Assets	$170.9B
Long-Term Investments	$2.7B
Tax Assets	$565M
Other Non-Current Assets	$2.0B
TOTAL NON-CURRENT ASSETS	$183.5B
TOTAL ASSETS	$205.8B
Account Payables	$12.9B
Short-Term Debt	$9.5B
Deferred Revenue	$1.7B
Other Current Liabilities	$860M
TOTAL CURRENT LIABILITIES	$25.0B
Long-Term Debt	$58.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$24.4B
Other Non-Current Liabilities	$4.3B
TOTAL NON-CURRENT LIABILITIES	$87.3B
TOTAL LIABILITIES	$112.2B
Common Stock	$828M
Additional Paid-In Capital	$35.9B
Retained Earnings	$55.8B
Treasury Stock	$0
Accum. Other Comp. Income	$661M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$93.2B
Minority Interest	$380M
TOTAL EQUITY	$93.6B
TOTAL LIABILITIES & EQUITY	$205.8B
Total Debt	$68.0B
Net Debt	$61.6B