LTM Q1 2017 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q1 2017 Earnings

Reported March 30, 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	$2.4B	$2.4B	$2.2B	-2.5%	5.6%
Op. Income	$166M	$125M	$223M	33.1%	-25.5%
Gross Margin	21.3%	25.2%	25.6%	-3.9pp	-4.4pp
Net Margin	2.8%	2.2%	4.6%	0.5pp	-1.8pp
EPS (Diluted)	$12.00	$197.80	$20.80	-93.9%	-42.3%
Free Cash Flow	$88M	$175M	-$228M	-49.9%	138.5%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.9B
GROSS PROFIT	$502M
R&D Expenses	$0
Selling & Marketing	$173M
General & Administrative	$205M
SG&A Expenses	$378M
Other Expenses	-$25M
Operating Expenses	$353M
Cost & Expenses	$2.2B
OPERATING INCOME	$166M
Interest Income	$23M
Interest Expense	$96M
Other Income/Expenses	-$37M
INCOME BEFORE TAX	$128M
Income Tax Expense	$53M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$252M
EBIT	$166M
EBITDA	$499M
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.9B
GROSS PROFIT	$502M
R&D Expenses	$0
Selling & Marketing	$173M
General & Administrative	$205M
SG&A Expenses	$378M
Other Expenses	-$25M
Operating Expenses	$353M
Cost & Expenses	$2.2B
OPERATING INCOME	$166M
Interest Income	$23M
Interest Expense	$96M
Other Income/Expenses	-$37M
INCOME BEFORE TAX	$128M
Income Tax Expense	$53M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$252M
EBIT	$166M
EBITDA	$499M
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$241M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$142M
Change in Working Capital	$0
OPERATING CASH FLOW	$174M
Capital Expenditure	-$86M
Acquisitions (Net)	$23M
Purchases of Investments	-$720M
Sales/Maturities of Investments	$742M
Other Investing Activities	-$41M
NET CASH FROM INVESTING	-$63M
Net Debt Issuance	-$223M
Common Stock Repurchased	$0
Common Dividends Paid	-$12M
Other Financing Activities	$17M
NET CASH FROM FINANCING	-$218M
FREE CASH FLOW	$88M
Net Change in Cash	-$96M

Balance Sheet

Item	Amount
Cash & Equivalents	$853M
Short-Term Investments	$632M
Net Receivables	$1.3B
Inventory	$235M
Other Current Assets	$361M
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$10.4B
Goodwill	$2.8B
Intangible Assets	$1.7B
Long-Term Investments	$46M
Tax Assets	$403M
Other Non-Current Assets	$319M
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$19.1B
Account Payables	$937M
Short-Term Debt	$1.5B
Deferred Revenue	$2.6B
Other Current Liabilities	$47M
TOTAL CURRENT LIABILITIES	$6.1B
Long-Term Debt	$5.6B
Deferred Revenue NC	$199M
Deferred Tax Liabilities	$962M
Other Non-Current Liabilities	$925M
TOTAL NON-CURRENT LIABILITIES	$8.7B
TOTAL LIABILITIES	$14.8B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$412M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$679M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$91M
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$19.1B
Total Debt	$8.4B
Net Debt	$7.6B