BTI Q4 2018 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q4 2018 Earnings

Reported December 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$17.3B	—	$16.4B	—	5.8%
Op. Income	$7.3B	—	$5.9B	—	23.3%
Gross Margin	82.3%	—	74.5%	—	7.8pp
Net Margin	26.0%	—	290.0%	—	-264.0pp
EPS (Diluted)	$2.00	—	$20.97	—	-90.5%
Free Cash Flow	$7.9B	—	$4.1B	—	93.0%

Revenue Flow

Item	Amount
REVENUE	$17.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$14.3B
R&D Expenses	$197M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	$0
Operating Expenses	$7.3B
Cost & Expenses	$10.4B
OPERATING INCOME	$7.3B
Interest Income	$1.0B
Interest Expense	$0
Other Income/Expenses	$2.0B
INCOME BEFORE TAX	$5.9B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$252M
NET INCOME	$4.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.5B
D&A	$526M
EBIT	$6.8B
EBITDA	$7.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$17.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$14.3B
R&D Expenses	$197M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	$0
Operating Expenses	$7.3B
Cost & Expenses	$10.4B
OPERATING INCOME	$7.3B
Interest Income	$1.0B
Interest Expense	$0
Other Income/Expenses	$2.0B
INCOME BEFORE TAX	$5.9B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$252M
NET INCOME	$4.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.5B
D&A	$526M
EBIT	$6.8B
EBITDA	$7.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$4.5B
Depreciation & Amortization	$526M
Stock-Based Compensation	$166M
Deferred Income Tax	$0
Other Non-Cash Items	$1.4B
Change in Working Capital	$2.1B
OPERATING CASH FLOW	$8.7B
Capital Expenditure	-$746M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$247M
NET CASH FROM INVESTING	-$992M
Net Debt Issuance	-$2.8B
Common Stock Repurchased	$5M
Common Dividends Paid	-$3.0B
Other Financing Activities	-$30M
NET CASH FROM FINANCING	-$6.9B
FREE CASH FLOW	$7.9B
Net Change in Cash	$774M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.3B
Short-Term Investments	$240M
Net Receivables	$3.9B
Inventory	$8.1B
Other Current Assets	$1.3B
TOTAL CURRENT ASSETS	$17.1B
PP&E (Net)	$7.0B
Goodwill	$62.2B
Intangible Assets	$105.0B
Long-Term Investments	$2.2B
Tax Assets	$464M
Other Non-Current Assets	$3.5B
TOTAL NON-CURRENT ASSETS	$180.2B
TOTAL ASSETS	$197.3B
Account Payables	$14.3B
Short-Term Debt	$5.1B
Deferred Revenue	$1.2B
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$22.0B
Long-Term Debt	$58.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$24.0B
Other Non-Current Liabilities	$4.4B
TOTAL NON-CURRENT LIABILITIES	$86.7B
TOTAL LIABILITIES	$108.7B
Common Stock	$828M
Additional Paid-In Capital	$123M
Retained Earnings	$52.0B
Treasury Stock	$0
Accum. Other Comp. Income	$35.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$88.2B
Minority Interest	$329M
TOTAL EQUITY	$88.6B
TOTAL LIABILITIES & EQUITY	$197.3B
Total Debt	$64.1B
Net Debt	$60.8B