CPA Q1 2018 Earnings Report — Copa Holdings, S.A. Revenue & Financial Results | Market Cap Arena

Copa Holdings, S.A.CPA

Q1 2018 Earnings

Reported May 10, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$715M	—	$617M	—	15.9%
Op. Income	$148M	—	$119M	—	24.5%
Gross Margin	32.6%	—	31.0%	—	1.6pp
Net Margin	19.1%	—	16.6%	—	2.5pp
EPS (Diluted)	$3.22	—	$2.38	—	35.3%
Free Cash Flow	$145M	—	$133M	—	9.2%

Revenue Flow

Item	Amount
REVENUE	$715M
Cost of Revenue	$482M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$85M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$567M
OPERATING INCOME	$148M
Interest Income	$5M
Interest Expense	$12M
Other Income/Expenses	$731.0K
INCOME BEFORE TAX	$148M
Income Tax Expense	$12M
Net Income from Continuing Ops	$137M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$137M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$137M
D&A	$69M
EBIT	$161M
EBITDA	$230M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$715M
Cost of Revenue	$482M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$85M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$567M
OPERATING INCOME	$148M
Interest Income	$5M
Interest Expense	$12M
Other Income/Expenses	$731.0K
INCOME BEFORE TAX	$148M
Income Tax Expense	$12M
Net Income from Continuing Ops	$137M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$137M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$137M
D&A	$69M
EBIT	$161M
EBITDA	$230M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$136M
Depreciation & Amortization	$42M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$9M
Change in Working Capital	$0
OPERATING CASH FLOW	$145M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$74M
NET CASH FROM INVESTING	-$74M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$113M
NET CASH FROM FINANCING	-$113M
FREE CASH FLOW	$145M
Net Change in Cash	-$42M

Balance Sheet

Item	Amount
Cash & Equivalents	$197M
Short-Term Investments	$650M
Net Receivables	$150M
Inventory	$85M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$2.9B
Goodwill	$0
Intangible Assets	$85M
Long-Term Investments	$155M
Tax Assets	$18M
Other Non-Current Assets	$63M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.3B
Account Payables	$133M
Short-Term Debt	$254M
Deferred Revenue	$540M
Other Current Liabilities	-$37M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$889M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$45M
Other Non-Current Liabilities	$131M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$2.1B
Common Stock	$29M
Additional Paid-In Capital	$75M
Retained Earnings	$2.2B
Treasury Stock	-$136M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$1.1B
Net Debt	$946M