LTM Q3 2017 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q3 2017 Earnings

Reported September 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2017	Q2 2017	Q3 2016	QoQ Change	YoY Change
Revenue	$2.5B	$2.1B	$2.4B	16.4%	5.6%
Op. Income	$226M	$33M	$162M	580.9%	39.7%
Gross Margin	25.6%	18.7%	22.9%	6.8pp	2.7pp
Net Margin	6.4%	-6.4%	0.2%	12.9pp	6.2pp
EPS (Diluted)	$29.60	$-25.40	$1.00	216.5%	2860.0%
Free Cash Flow	$411M	$165M	$52M	149.7%	682.7%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$1.9B
GROSS PROFIT	$638M
R&D Expenses	$0
Selling & Marketing	$201M
General & Administrative	$242M
SG&A Expenses	$443M
Other Expenses	-$30M
Operating Expenses	$413M
Cost & Expenses	$2.3B
OPERATING INCOME	$226M
Interest Income	$25M
Interest Expense	$107M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$204M
Income Tax Expense	$26M
Net Income from Continuing Ops	$178M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$258M
EBIT	$226M
EBITDA	$574M
EPS	$30
EPS Diluted	$30

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$1.9B
GROSS PROFIT	$638M
R&D Expenses	$0
Selling & Marketing	$201M
General & Administrative	$242M
SG&A Expenses	$443M
Other Expenses	-$30M
Operating Expenses	$413M
Cost & Expenses	$2.3B
OPERATING INCOME	$226M
Interest Income	$25M
Interest Expense	$107M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$204M
Income Tax Expense	$26M
Net Income from Continuing Ops	$178M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$258M
EBIT	$226M
EBITDA	$574M
EPS	$30
EPS Diluted	$30

Cash Flow Statement

Item	Amount
Net Income	$161M
Depreciation & Amortization	$239M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	$83M
Change in Working Capital	$0
OPERATING CASH FLOW	$488M
Capital Expenditure	-$77M
Acquisitions (Net)	-$18M
Purchases of Investments	-$826M
Sales/Maturities of Investments	$862M
Other Investing Activities	-$20M
NET CASH FROM INVESTING	-$41M
Net Debt Issuance	-$527M
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	-$145M
NET CASH FROM FINANCING	-$682M
FREE CASH FLOW	$411M
Net Change in Cash	-$211M

Balance Sheet

Item	Amount
Cash & Equivalents	$940M
Short-Term Investments	$631M
Net Receivables	$1.4B
Inventory	$243M
Other Current Assets	$382M
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$10.2B
Goodwill	$2.8B
Intangible Assets	$1.7B
Long-Term Investments	$47M
Tax Assets	$412M
Other Non-Current Assets	$273M
TOTAL NON-CURRENT ASSETS	$15.4B
TOTAL ASSETS	$19.1B
Account Payables	$1.1B
Short-Term Debt	$1.1B
Deferred Revenue	$2.7B
Other Current Liabilities	$58M
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$5.9B
Deferred Revenue NC	$167M
Deferred Tax Liabilities	$956M
Other Non-Current Liabilities	$1.0B
TOTAL NON-CURRENT LIABILITIES	$8.9B
TOTAL LIABILITIES	$14.7B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$428M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$702M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$101M
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$19.1B
Total Debt	$8.2B
Net Debt	$7.2B