LTM Q4 2016 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

Q4 2016 Earnings

Reported December 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$2.4B	$2.4B	—	2.3%	—
Op. Income	$125M	$162M	—	-22.9%	—
Gross Margin	25.2%	22.9%	—	2.3pp	—
Net Margin	2.2%	0.2%	—	2.0pp	—
EPS (Diluted)	$197.80	$1.00	—	19680.0%	—
Free Cash Flow	$175M	$52M	—	233.8%	—

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.8B
GROSS PROFIT	$609M
R&D Expenses	$0
Selling & Marketing	$195M
General & Administrative	$315M
SG&A Expenses	$511M
Other Expenses	-$26M
Operating Expenses	$485M
Cost & Expenses	$2.3B
OPERATING INCOME	$125M
Interest Income	$22M
Interest Expense	$106M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$29M
Income Tax Expense	-$34M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$250M
EBIT	$125M
EBITDA	$388M
EPS	$198
EPS Diluted	$198

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.8B
GROSS PROFIT	$609M
R&D Expenses	$0
Selling & Marketing	$195M
General & Administrative	$315M
SG&A Expenses	$511M
Other Expenses	-$26M
Operating Expenses	$485M
Cost & Expenses	$2.3B
OPERATING INCOME	$125M
Interest Income	$22M
Interest Expense	$106M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$29M
Income Tax Expense	-$34M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$250M
EBIT	$125M
EBITDA	$388M
EPS	$198
EPS Diluted	$198

Cash Flow Statement

Item	Amount
Net Income	$54M
Depreciation & Amortization	$357M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	-$50M
Change in Working Capital	$0
OPERATING CASH FLOW	$374M
Capital Expenditure	-$199M
Acquisitions (Net)	$139M
Purchases of Investments	-$539M
Sales/Maturities of Investments	$679M
Other Investing Activities	-$159M
NET CASH FROM INVESTING	-$52M
Net Debt Issuance	-$490M
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	-$174M
NET CASH FROM FINANCING	-$67M
FREE CASH FLOW	$175M
Net Change in Cash	$241M

Balance Sheet

Item	Amount
Cash & Equivalents	$949M
Short-Term Investments	$684M
Net Receivables	$1.3B
Inventory	$241M
Other Current Assets	$351M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$10.5B
Goodwill	$2.7B
Intangible Assets	$1.6B
Long-Term Investments	$45M
Tax Assets	$385M
Other Non-Current Assets	$323M
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$19.2B
Account Payables	$922M
Short-Term Debt	$1.5B
Deferred Revenue	$2.7B
Other Current Liabilities	$52M
TOTAL CURRENT LIABILITIES	$6.2B
Long-Term Debt	$6.0B
Deferred Revenue NC	$214M
Deferred Tax Liabilities	$916M
Other Non-Current Liabilities	$871M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$15.0B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$366M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$581M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$89M
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$19.2B
Total Debt	$8.6B
Net Debt	$7.7B