CPA Q1 2017 Earnings Report — Copa Holdings, S.A. Revenue & Financial Results | Market Cap Arena

Copa Holdings, S.A.CPA

Q1 2017 Earnings

Reported May 10, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$617M	—	$557M	—	10.7%
Op. Income	$119M	—	$94M	—	26.1%
Gross Margin	31.0%	—	40.4%	—	-9.4pp
Net Margin	16.6%	—	20.7%	—	-4.1pp
EPS (Diluted)	$2.38	—	$2.74	—	-13.1%
Free Cash Flow	$133M	—	$119M	—	11.6%

Revenue Flow

Item	Amount
REVENUE	$617M
Cost of Revenue	$425M
GROSS PROFIT	$191M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$73M
Other Expenses	$0
Operating Expenses	$73M
Cost & Expenses	$498M
OPERATING INCOME	$119M
Interest Income	$3M
Interest Expense	$9M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$113M
Income Tax Expense	$11M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0K
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$40M
EBIT	$122M
EBITDA	$162M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$617M
Cost of Revenue	$425M
GROSS PROFIT	$191M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$73M
Other Expenses	$0
Operating Expenses	$73M
Cost & Expenses	$498M
OPERATING INCOME	$119M
Interest Income	$3M
Interest Expense	$9M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$113M
Income Tax Expense	$11M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$1.0K
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$40M
EBIT	$122M
EBITDA	$162M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$40M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$30M
Change in Working Capital	$0
OPERATING CASH FLOW	$133M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$75M
NET CASH FROM INVESTING	-$75M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$120M
NET CASH FROM FINANCING	-$120M
FREE CASH FLOW	$133M
Net Change in Cash	-$62M

Balance Sheet

Item	Amount
Cash & Equivalents	$270M
Short-Term Investments	$570M
Net Receivables	$138M
Inventory	$78M
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$2.7B
Goodwill	$0
Intangible Assets	$71M
Long-Term Investments	$954.0K
Tax Assets	$18M
Other Non-Current Assets	$69M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.9B
Account Payables	$97M
Short-Term Debt	$167M
Deferred Revenue	$471M
Other Current Liabilities	$39M
TOTAL CURRENT LIABILITIES	$851M
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$41M
Other Non-Current Liabilities	$122M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$2.0B
Common Stock	$28M
Additional Paid-In Capital	$68M
Retained Earnings	$2.0B
Treasury Stock	-$136M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$1.2B
Net Debt	$905M