RIO Q2 2023 Earnings Report — Rio Tinto Group Revenue & Financial Results | Market Cap Arena

Rio Tinto GroupRIO

Q2 2023 Earnings

Reported July 26, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$26.7B	—	$29.8B	—	-10.4%
Op. Income	$7.8B	—	$12.2B	—	-35.7%
Gross Margin	29.4%	—	41.0%	—	-11.6pp
Net Margin	19.2%	—	29.9%	—	-10.7pp
EPS (Diluted)	$3.14	—	$5.47	—	-42.6%
Free Cash Flow	$4.0B	—	$7.4B	—	-45.4%

Revenue Flow

Item	Amount
REVENUE	$26.7B
Cost of Revenue	$18.8B
GROSS PROFIT	$7.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$710M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$18.8B
OPERATING INCOME	$7.8B
Interest Income	$245M
Interest Expense	$656M
Other Income/Expenses	-$748M
INCOME BEFORE TAX	$6.5B
Income Tax Expense	$2.0B
Net Income from Continuing Ops	$4.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.1B
D&A	$3.1B
EBIT	$7.9B
EBITDA	$10.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$26.7B
Cost of Revenue	$18.8B
GROSS PROFIT	$7.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$710M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$18.8B
OPERATING INCOME	$7.8B
Interest Income	$245M
Interest Expense	$656M
Other Income/Expenses	-$748M
INCOME BEFORE TAX	$6.5B
Income Tax Expense	$2.0B
Net Income from Continuing Ops	$4.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.1B
D&A	$3.1B
EBIT	$7.9B
EBITDA	$10.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$5.1B
Depreciation & Amortization	$3.1B
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$6.8B
Change in Working Capital	-$927M
OPERATING CASH FLOW	$7.0B
Capital Expenditure	-$3.0B
Acquisitions (Net)	$46M
Purchases of Investments	-$119M
Sales/Maturities of Investments	$862M
Other Investing Activities	$14M
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	$1.4B
Common Stock Repurchased	$0
Common Dividends Paid	-$3.7B
Other Financing Activities	-$46M
NET CASH FROM FINANCING	-$2.4B
FREE CASH FLOW	$4.0B
Net Change in Cash	$2.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$9.2B
Short-Term Investments	$1.3B
Net Receivables	$3.8B
Inventory	$6.4B
Other Current Assets	$305M
TOTAL CURRENT ASSETS	$20.8B
PP&E (Net)	$63.1B
Goodwill	$776M
Intangible Assets	$3.7B
Long-Term Investments	$2.7B
Tax Assets	$3.1B
Other Non-Current Assets	$3.5B
TOTAL NON-CURRENT ASSETS	$76.8B
TOTAL ASSETS	$97.6B
Account Payables	$7.6B
Short-Term Debt	$176M
Deferred Revenue	$0
Other Current Liabilities	$2.0B
TOTAL CURRENT LIABILITIES	$10.4B
Long-Term Debt	$12.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.1B
Other Non-Current Liabilities	$17.1B
TOTAL NON-CURRENT LIABILITIES	$33.8B
TOTAL LIABILITIES	$44.2B
Common Stock	$3.5B
Additional Paid-In Capital	$4.3B
Retained Earnings	$36.4B
Treasury Stock	$0
Accum. Other Comp. Income	$7.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$51.6B
Minority Interest	$1.7B
TOTAL EQUITY	$53.4B
TOTAL LIABILITIES & EQUITY	$97.6B
Total Debt	$14.1B
Net Debt	$4.9B