BTI Q2 2023 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2023 Earnings

Reported June 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$18.1B	—	—	—	—
Op. Income	$8.0B	—	—	—	—
Gross Margin	83.3%	—	—	—	—
Net Margin	29.5%	—	—	—	—
EPS (Diluted)	$2.37	—	—	—	—
Free Cash Flow	$4.4B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$15.1B
R&D Expenses	$262M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$5.0B
Operating Expenses	$7.1B
Cost & Expenses	$10.1B
OPERATING INCOME	$8.0B
Interest Income	$115M
Interest Expense	$1.2B
Other Income/Expenses	-$852M
INCOME BEFORE TAX	$7.1B
Income Tax Expense	$1.7B
Net Income from Continuing Ops	$5.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.3B
D&A	$647M
EBIT	$8.0B
EBITDA	$8.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$15.1B
R&D Expenses	$262M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$5.0B
Operating Expenses	$7.1B
Cost & Expenses	$10.1B
OPERATING INCOME	$8.0B
Interest Income	$115M
Interest Expense	$1.2B
Other Income/Expenses	-$852M
INCOME BEFORE TAX	$7.1B
Income Tax Expense	$1.7B
Net Income from Continuing Ops	$5.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.3B
D&A	$647M
EBIT	$8.0B
EBITDA	$8.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$5.3B
Depreciation & Amortization	$647M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$1.6B
Change in Working Capital	-$3.1B
OPERATING CASH FLOW	$4.6B
Capital Expenditure	-$148M
Acquisitions (Net)	-$43M
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$204M
NET CASH FROM INVESTING	$55M
Net Debt Issuance	$2.7B
Common Stock Repurchased	-$297M
Common Dividends Paid	-$6.7B
Other Financing Activities	$198M
NET CASH FROM FINANCING	-$4.1B
FREE CASH FLOW	$4.4B
Net Change in Cash	$317M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.0B
Short-Term Investments	$608M
Net Receivables	$7.5B
Inventory	$7.6B
Other Current Assets	$1.5B
TOTAL CURRENT ASSETS	$20.3B
PP&E (Net)	$6.1B
Goodwill	$0
Intangible Assets	$164.7B
Long-Term Investments	$2.3B
Tax Assets	$971M
Other Non-Current Assets	$2.6B
TOTAL NON-CURRENT ASSETS	$176.6B
TOTAL ASSETS	$196.9B
Account Payables	$12.4B
Short-Term Debt	$6.8B
Deferred Revenue	$0
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$21.8B
Long-Term Debt	$50.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23.4B
Other Non-Current Liabilities	$3.7B
TOTAL NON-CURRENT LIABILITIES	$77.2B
TOTAL LIABILITIES	$99.0B
Common Stock	$828M
Additional Paid-In Capital	$35.9B
Retained Earnings	$61.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$723M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$97.5B
Minority Interest	$445M
TOTAL EQUITY	$97.9B
TOTAL LIABILITIES & EQUITY	$196.9B
Total Debt	$56.9B
Net Debt	$51.9B