CPA Q2 2018 Earnings Report — Copa Holdings, S.A. Revenue & Financial Results | Market Cap Arena

Copa Holdings, S.A.CPA

Q2 2018 Earnings

Reported August 9, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$634M	$715M	—	-11.3%	—
Op. Income	$60M	$148M	—	-59.1%	—
Gross Margin	21.7%	32.6%	—	-10.9pp	—
Net Margin	7.9%	19.1%	—	-11.2pp	—
EPS (Diluted)	$1.17	$3.22	—	-63.7%	—
Free Cash Flow	$122M	$145M	—	-15.8%	—

Revenue Flow

Item	Amount
REVENUE	$634M
Cost of Revenue	$496M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$77M
Other Expenses	$0
Operating Expenses	$77M
Cost & Expenses	$574M
OPERATING INCOME	$60M
Interest Income	$6M
Interest Expense	$13M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$57M
Income Tax Expense	$7M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$70M
EBIT	$70M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$634M
Cost of Revenue	$496M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$77M
Other Expenses	$0
Operating Expenses	$77M
Cost & Expenses	$574M
OPERATING INCOME	$60M
Interest Income	$6M
Interest Expense	$13M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$57M
Income Tax Expense	$7M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$70M
EBIT	$70M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$50M
Depreciation & Amortization	-$42M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$72M
Change in Working Capital	$0
OPERATING CASH FLOW	$122M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$32M
NET CASH FROM INVESTING	-$32M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$62M
NET CASH FROM FINANCING	-$62M
FREE CASH FLOW	$122M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$225M
Short-Term Investments	$605M
Net Receivables	$139M
Inventory	$87M
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$2.9B
Goodwill	$0
Intangible Assets	$90M
Long-Term Investments	$171M
Tax Assets	$16M
Other Non-Current Assets	$64M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$4.4B
Account Payables	$136M
Short-Term Debt	$249M
Deferred Revenue	$602M
Other Current Liabilities	-$42M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$914M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$47M
Other Non-Current Liabilities	$132M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$2.2B
Common Stock	$29M
Additional Paid-In Capital	$76M
Retained Earnings	$2.3B
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	$4.4B
Total Debt	$1.2B
Net Debt	$937M