LTM Q1 2018 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q1 2018 Earnings

Reported March 30, 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	$2.6B	$2.6B	$2.4B	0.1%	10.8%
Op. Income	$267M	$282M	$166M	-5.4%	61.1%
Gross Margin	24.4%	24.1%	21.3%	0.3pp	3.1pp
Net Margin	3.5%	2.6%	2.8%	1.0pp	0.7pp
EPS (Diluted)	$17.00	$0.20	$12.00	8400.0%	41.7%
Free Cash Flow	$265M	$513M	$88M	-48.3%	202.0%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$638M
R&D Expenses	$0
Selling & Marketing	$170M
General & Administrative	$199M
SG&A Expenses	$372M
Other Expenses	-$3M
Operating Expenses	$369M
Cost & Expenses	$2.3B
OPERATING INCOME	$267M
Interest Income	$12M
Interest Expense	$133M
Other Income/Expenses	-$118M
INCOME BEFORE TAX	$149M
Income Tax Expense	$47M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$349M
EBIT	$282M
EBITDA	$631M
EPS	$17
EPS Diluted	$17

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$638M
R&D Expenses	$0
Selling & Marketing	$170M
General & Administrative	$199M
SG&A Expenses	$372M
Other Expenses	-$3M
Operating Expenses	$369M
Cost & Expenses	$2.3B
OPERATING INCOME	$267M
Interest Income	$12M
Interest Expense	$133M
Other Income/Expenses	-$118M
INCOME BEFORE TAX	$149M
Income Tax Expense	$47M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$349M
EBIT	$282M
EBITDA	$631M
EPS	$17
EPS Diluted	$17

Cash Flow Statement

Item	Amount
Net Income	$92M
Depreciation & Amortization	$336M
Stock-Based Compensation	$8M
Deferred Income Tax	$0
Other Non-Cash Items	$28M
Change in Working Capital	$0
OPERATING CASH FLOW	$464M
Capital Expenditure	-$198M
Acquisitions (Net)	-$180M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$903M
Other Investing Activities	$283M
NET CASH FROM INVESTING	-$256M
Net Debt Issuance	-$391M
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	$28M
NET CASH FROM FINANCING	-$373M
FREE CASH FLOW	$265M
Net Change in Cash	-$328M

Balance Sheet

Item	Amount
Cash & Equivalents	$814M
Short-Term Investments	$662M
Net Receivables	$1.6B
Inventory	$267M
Other Current Assets	$238M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$10.1B
Goodwill	$2.7B
Intangible Assets	$1.6B
Long-Term Investments	$48M
Tax Assets	$377M
Other Non-Current Assets	$284M
TOTAL NON-CURRENT ASSETS	$15.0B
TOTAL ASSETS	$18.7B
Account Payables	$1.1B
Short-Term Debt	$911M
Deferred Revenue	$2.8B
Other Current Liabilities	$68M
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$4.9B
Deferred Revenue NC	$142M
Deferred Tax Liabilities	$962M
Other Non-Current Liabilities	$982M
TOTAL NON-CURRENT LIABILITIES	$8.4B
TOTAL LIABILITIES	$14.4B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$531M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$546M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$93M
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$18.7B
Total Debt	$7.6B
Net Debt	$6.8B