LTM Q3 2016 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q3 2016 Earnings

Reported September 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$2.4B	$2.0B	—	20.3%	—
Op. Income	$162M	-$15M	—	1145.1%	—
Gross Margin	22.9%	15.2%	—	7.7pp	—
Net Margin	0.2%	-4.7%	—	4.9pp	—
EPS (Diluted)	$1.00	$-18.80	—	105.3%	—
Free Cash Flow	$52M	$210M	—	-75.0%	—

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.8B
GROSS PROFIT	$541M
R&D Expenses	$0
Selling & Marketing	$196M
General & Administrative	$231M
SG&A Expenses	$426M
Other Expenses	-$47M
Operating Expenses	$380M
Cost & Expenses	$2.2B
OPERATING INCOME	$162M
Interest Income	$22M
Interest Expense	$107M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$69M
Income Tax Expense	$52M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$252M
EBIT	$179M
EBITDA	$430M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.8B
GROSS PROFIT	$541M
R&D Expenses	$0
Selling & Marketing	$196M
General & Administrative	$231M
SG&A Expenses	$426M
Other Expenses	-$47M
Operating Expenses	$380M
Cost & Expenses	$2.2B
OPERATING INCOME	$162M
Interest Income	$22M
Interest Expense	$107M
Other Income/Expenses	-$93M
INCOME BEFORE TAX	$69M
Income Tax Expense	$52M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$252M
EBIT	$179M
EBITDA	$430M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$5M
Depreciation & Amortization	$186M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$5M
Change in Working Capital	$0
OPERATING CASH FLOW	$199M
Capital Expenditure	-$146M
Acquisitions (Net)	-$29M
Purchases of Investments	-$812M
Sales/Maturities of Investments	$783M
Other Investing Activities	$47M
NET CASH FROM INVESTING	-$124M
Net Debt Issuance	$126M
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	-$86M
NET CASH FROM FINANCING	$29M
FREE CASH FLOW	$52M
Net Change in Cash	$71M

Balance Sheet

Item	Amount
Cash & Equivalents	$708M
Short-Term Investments	$666M
Net Receivables	$1.1B
Inventory	$223M
Other Current Assets	$59M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$10.9B
Goodwill	$2.7B
Intangible Assets	$1.6B
Long-Term Investments	$46M
Tax Assets	$390M
Other Non-Current Assets	$425M
TOTAL NON-CURRENT ASSETS	$16.1B
TOTAL ASSETS	$19.0B
Account Payables	$910M
Short-Term Debt	$1.6B
Deferred Revenue	$2.5B
Other Current Liabilities	$61M
TOTAL CURRENT LIABILITIES	$6.1B
Long-Term Debt	$6.5B
Deferred Revenue NC	$271M
Deferred Tax Liabilities	$959M
Other Non-Current Liabilities	$990M
TOTAL NON-CURRENT LIABILITIES	$9.4B
TOTAL LIABILITIES	$15.5B
Common Stock	$2.5B
Additional Paid-In Capital	$2.5B
Retained Earnings	$328M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$583M
Other Equity	-$2.5B
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$89M
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$19.0B
Total Debt	$9.1B
Net Debt	$8.4B