BTI Q2 2021 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2021 Earnings

Reported June 30, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$16.4B	—	$16.5B	—	-0.8%
Op. Income	$6.8B	—	$7.0B	—	-2.2%
Gross Margin	82.5%	—	83.7%	—	-1.2pp
Net Margin	26.7%	—	28.2%	—	-1.5pp
EPS (Diluted)	$1.91	—	$2.04	—	-6.0%
Free Cash Flow	$1.8B	—	$3.4B	—	-46.4%

Revenue Flow

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$2.9B
GROSS PROFIT	$13.5B
R&D Expenses	$191M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$138M
Operating Expenses	$6.7B
Cost & Expenses	$9.5B
OPERATING INCOME	$6.8B
Interest Income	$987M
Interest Expense	$0
Other Income/Expenses	-$1.3B
INCOME BEFORE TAX	$5.9B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$4.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$314M
NET INCOME	$4.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.4B
D&A	$643M
EBIT	$6.6B
EBITDA	$7.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$2.9B
GROSS PROFIT	$13.5B
R&D Expenses	$191M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$138M
Operating Expenses	$6.7B
Cost & Expenses	$9.5B
OPERATING INCOME	$6.8B
Interest Income	$987M
Interest Expense	$0
Other Income/Expenses	-$1.3B
INCOME BEFORE TAX	$5.9B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$4.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$314M
NET INCOME	$4.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.4B
D&A	$643M
EBIT	$6.6B
EBITDA	$7.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$4.4B
Depreciation & Amortization	$643M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$2.9B
Change in Working Capital	-$2.9B
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$236M
Acquisitions (Net)	-$150M
Purchases of Investments	-$297M
Sales/Maturities of Investments	$136M
Other Investing Activities	-$353M
NET CASH FROM INVESTING	-$546M
Net Debt Issuance	$2.5B
Common Stock Repurchased	-$111M
Common Dividends Paid	-$3.3B
Other Financing Activities	-$452M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.8B
Net Change in Cash	-$169M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.1B
Short-Term Investments	$453M
Net Receivables	$7.6B
Inventory	$8.6B
Other Current Assets	$888M
TOTAL CURRENT ASSETS	$19.3B
PP&E (Net)	$6.6B
Goodwill	$0
Intangible Assets	$153.5B
Long-Term Investments	$2.2B
Tax Assets	$839M
Other Non-Current Assets	$2.3B
TOTAL NON-CURRENT ASSETS	$165.4B
TOTAL ASSETS	$184.7B
Account Payables	$11.5B
Short-Term Debt	$11.7B
Deferred Revenue	$1.0B
Other Current Liabilities	$659M
TOTAL CURRENT LIABILITIES	$24.8B
Long-Term Debt	$49.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21.9B
Other Non-Current Liabilities	$3.8B
TOTAL NON-CURRENT LIABILITIES	$74.7B
TOTAL LIABILITIES	$99.5B
Common Stock	$828M
Additional Paid-In Capital	$35.9B
Retained Earnings	$58.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$9.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$84.8B
Minority Interest	$373M
TOTAL EQUITY	$85.2B
TOTAL LIABILITIES & EQUITY	$184.7B
Total Debt	$60.7B
Net Debt	$56.6B