MU Q2 2019 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q2 2019 Earnings

Reported March 21, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$5.8B	$7.9B	$7.4B	-26.3%	-20.6%
Op. Income	$2.0B	$3.8B	$3.6B	-47.9%	-45.1%
Gross Margin	49.1%	58.3%	58.1%	-9.2pp	-9.0pp
Net Margin	27.7%	41.6%	45.0%	-13.9pp	-17.3pp
EPS (Diluted)	$1.42	$2.81	$2.67	-49.5%	-46.8%
Free Cash Flow	$769M	$2.1B	$2.1B	-63.2%	-62.8%

Revenue Flow

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$3.0B
GROSS PROFIT	$2.9B
R&D Expenses	$624M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$209M
Other Expenses	$74M
Operating Expenses	$907M
Cost & Expenses	$3.9B
OPERATING INCOME	$2.0B
Interest Income	$58M
Interest Expense	$27M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$280M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.3B
EBIT	$2.0B
EBITDA	$3.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$3.0B
GROSS PROFIT	$2.9B
R&D Expenses	$624M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$209M
Other Expenses	$74M
Operating Expenses	$907M
Cost & Expenses	$3.9B
OPERATING INCOME	$2.0B
Interest Income	$58M
Interest Expense	$27M
Other Income/Expenses	-$52M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$280M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.3B
EBIT	$2.0B
EBITDA	$3.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$1.3B
Stock-Based Compensation	$57M
Deferred Income Tax	$72M
Other Non-Cash Items	$139M
Change in Working Capital	$218M
OPERATING CASH FLOW	$3.4B
Capital Expenditure	-$2.7B
Acquisitions (Net)	$88M
Purchases of Investments	-$519M
Sales/Maturities of Investments	$414M
Other Investing Activities	$191M
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$732M
Common Dividends Paid	$0
Other Financing Activities	$12M
NET CASH FROM FINANCING	$952M
FREE CASH FLOW	$769M
Net Change in Cash	$1.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.4B
Short-Term Investments	$1.2B
Net Receivables	$4.4B
Inventory	$4.4B
Other Current Assets	$211M
TOTAL CURRENT ASSETS	$16.6B
PP&E (Net)	$26.2B
Goodwill	$1.2B
Intangible Assets	$350M
Long-Term Investments	$1.6B
Tax Assets	$762M
Other Non-Current Assets	$779M
TOTAL NON-CURRENT ASSETS	$30.9B
TOTAL ASSETS	$47.5B
Account Payables	$1.5B
Short-Term Debt	$2.4B
Deferred Revenue	$0
Other Current Liabilities	$665M
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$12.1B
Common Stock	$118M
Additional Paid-In Capital	$8.1B
Retained Earnings	$29.4B
Treasury Stock	-$3.1B
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$34.6B
Minority Interest	$863M
TOTAL EQUITY	$35.4B
TOTAL LIABILITIES & EQUITY	$47.5B
Total Debt	$6.2B
Net Debt	-$113M