LTM Q3 2019 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q3 2019 Earnings

Reported September 29, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$2.6B	$2.3B	—	13.2%	—
Op. Income	$274M	$19M	—	1348.0%	—
Gross Margin	25.3%	14.9%	—	10.3pp	—
Net Margin	3.3%	-2.7%	—	6.1pp	—
EPS (Diluted)	$15.80	$-11.60	—	236.2%	—
Free Cash Flow	$597M	$375M	—	59.0%	—

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.9B
GROSS PROFIT	$655M
R&D Expenses	$0
Selling & Marketing	$158M
General & Administrative	$186M
SG&A Expenses	$344M
Other Expenses	$37M
Operating Expenses	$382M
Cost & Expenses	$2.3B
OPERATING INCOME	$274M
Interest Income	$4M
Interest Expense	$146M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$55M
Income Tax Expense	-$32M
Net Income from Continuing Ops	$87M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$376M
EBIT	$201M
EBITDA	$576M
EPS	$16
EPS Diluted	$16

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.9B
GROSS PROFIT	$655M
R&D Expenses	$0
Selling & Marketing	$158M
General & Administrative	$186M
SG&A Expenses	$344M
Other Expenses	$37M
Operating Expenses	$382M
Cost & Expenses	$2.3B
OPERATING INCOME	$274M
Interest Income	$4M
Interest Expense	$146M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$55M
Income Tax Expense	-$32M
Net Income from Continuing Ops	$87M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$376M
EBIT	$201M
EBITDA	$576M
EPS	$16
EPS Diluted	$16

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$358M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$357M
Change in Working Capital	$0
OPERATING CASH FLOW	$800M
Capital Expenditure	-$203M
Acquisitions (Net)	-$294M
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$1.0B
Other Investing Activities	$279M
NET CASH FROM INVESTING	-$356M
Net Debt Issuance	-$296M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$142M
NET CASH FROM FINANCING	-$438M
FREE CASH FLOW	$597M
Net Change in Cash	-$114M

Balance Sheet

Item	Amount
Cash & Equivalents	$947M
Short-Term Investments	$466M
Net Receivables	$1.7B
Inventory	$368M
Other Current Assets	$434M
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$12.4B
Goodwill	$2.1B
Intangible Assets	$1.4B
Long-Term Investments	$53M
Tax Assets	$256M
Other Non-Current Assets	$214M
TOTAL NON-CURRENT ASSETS	$16.4B
TOTAL ASSETS	$20.3B
Account Payables	$1.3B
Short-Term Debt	$1.1B
Deferred Revenue	$2.5B
Other Current Liabilities	$59M
TOTAL CURRENT LIABILITIES	$6.6B
Long-Term Debt	$4.4B
Deferred Revenue NC	$738M
Deferred Tax Liabilities	$706M
Other Non-Current Liabilities	$985M
TOTAL NON-CURRENT LIABILITIES	$10.9B
TOTAL LIABILITIES	$17.5B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$182M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	-$483M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	-$5M
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$20.3B
Total Debt	$10.5B
Net Debt	$9.6B