MU Q2 2018 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q2 2018 Earnings

Reported March 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$7.4B	$6.8B	$4.6B	8.1%	58.2%
Op. Income	$3.6B	$3.1B	$1.0B	15.2%	241.7%
Gross Margin	58.1%	55.1%	36.7%	3.0pp	21.4pp
Net Margin	45.0%	39.4%	19.2%	5.6pp	25.8pp
EPS (Diluted)	$2.67	$2.19	$0.77	21.9%	246.8%
Free Cash Flow	$2.1B	$1.5B	$232M	33.6%	790.9%

Revenue Flow

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$3.1B
GROSS PROFIT	$4.3B
R&D Expenses	$581M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$196M
Other Expenses	-$74M
Operating Expenses	$703M
Cost & Expenses	$3.8B
OPERATING INCOME	$3.6B
Interest Income	$27M
Interest Expense	$88M
Other Income/Expenses	-$113M
INCOME BEFORE TAX	$3.5B
Income Tax Expense	$143M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$1.2B
EBIT	$3.6B
EBITDA	$4.7B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$3.1B
GROSS PROFIT	$4.3B
R&D Expenses	$581M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$196M
Other Expenses	-$74M
Operating Expenses	$703M
Cost & Expenses	$3.8B
OPERATING INCOME	$3.6B
Interest Income	$27M
Interest Expense	$88M
Other Income/Expenses	-$113M
INCOME BEFORE TAX	$3.5B
Income Tax Expense	$143M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$1.2B
EBIT	$3.6B
EBITDA	$4.7B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$3.3B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$52M
Deferred Income Tax	-$3M
Other Non-Cash Items	-$236M
Change in Working Capital	$47M
OPERATING CASH FLOW	$4.3B
Capital Expenditure	-$2.3B
Acquisitions (Net)	$163M
Purchases of Investments	-$327M
Sales/Maturities of Investments	$144M
Other Investing Activities	-$108M
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	-$155M
Common Stock Repurchased	-$44M
Common Dividends Paid	$0
Other Financing Activities	$61M
NET CASH FROM FINANCING	-$138M
FREE CASH FLOW	$2.1B
Net Change in Cash	$1.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.8B
Short-Term Investments	$214M
Net Receivables	$4.4B
Inventory	$3.2B
Other Current Assets	$173M
TOTAL CURRENT ASSETS	$15.8B
PP&E (Net)	$21.9B
Goodwill	$1.2B
Intangible Assets	$348M
Long-Term Investments	$520M
Tax Assets	$1.0B
Other Non-Current Assets	$441M
TOTAL NON-CURRENT ASSETS	$25.4B
TOTAL ASSETS	$41.3B
Account Payables	$1.6B
Short-Term Debt	$1.1B
Deferred Revenue	$603M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$6.1B
Long-Term Debt	$7.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$746M
TOTAL NON-CURRENT LIABILITIES	$8.6B
TOTAL LIABILITIES	$14.7B
Common Stock	$116M
Additional Paid-In Capital	$9.6B
Retained Earnings	$16.2B
Treasury Stock	-$313M
Accum. Other Comp. Income	$43M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.7B
Minority Interest	$869M
TOTAL EQUITY	$26.6B
TOTAL LIABILITIES & EQUITY	$41.3B
Total Debt	$9.3B
Net Debt	$1.5B