SUZ Q1 2023 Earnings Report — Suzano S.A. Revenue & Financial Results | Market Cap Arena

Q1 2023 Earnings

Reported April 27, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$2.3B	$2.9B	$2.0B	-21.5%	15.7%
Op. Income	$868M	$1.5B	$683M	-41.0%	27.1%
Gross Margin	47.1%	52.7%	44.2%	-5.7pp	2.8pp
Net Margin	46.4%	51.9%	105.8%	-5.4pp	-59.3pp
EPS (Diluted)	$0.80	$1.14	$1.54	-30.0%	-48.0%
Free Cash Flow	$91M	$383M	$374M	-76.1%	-75.6%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$61M
General & Administrative	$86M
SG&A Expenses	$147M
Other Expenses	$55M
Operating Expenses	$202M
Cost & Expenses	$1.4B
OPERATING INCOME	$868M
Interest Income	$78M
Interest Expense	$234M
Other Income/Expenses	$498M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$309M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$352M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$61M
General & Administrative	$86M
SG&A Expenses	$147M
Other Expenses	$55M
Operating Expenses	$202M
Cost & Expenses	$1.4B
OPERATING INCOME	$868M
Interest Income	$78M
Interest Expense	$234M
Other Income/Expenses	$498M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$309M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$352M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$352M
Stock-Based Compensation	$0
Deferred Income Tax	$289M
Other Non-Cash Items	-$699M
Change in Working Capital	-$132M
OPERATING CASH FLOW	$866M
Capital Expenditure	-$774M
Acquisitions (Net)	-$4M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	-$61M
Common Stock Repurchased	-$18M
Common Dividends Paid	$0
Other Financing Activities	$70M
NET CASH FROM FINANCING	-$8M
FREE CASH FLOW	$91M
Net Change in Cash	-$956M

Balance Sheet

Item	Amount
Cash & Equivalents	$189M
Short-Term Investments	$485M
Net Receivables	$432M
Inventory	$252M
Other Current Assets	$147M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$2.9B
Goodwill	$319M
Intangible Assets	$276M
Long-Term Investments	$121M
Tax Assets	$102M
Other Non-Current Assets	$140M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$5.4B
Account Payables	$264M
Short-Term Debt	$161M
Deferred Revenue	$5M
Other Current Liabilities	$152M
TOTAL CURRENT LIABILITIES	$608M
Long-Term Debt	$2.7B
Deferred Revenue NC	$5M
Deferred Tax Liabilities	$452.1K
Other Non-Current Liabilities	$302M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$3.9B
Common Stock	$367M
Additional Paid-In Capital	$0
Retained Earnings	$209M
Treasury Stock	-$27M
Accum. Other Comp. Income	$969M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$4M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$3.1B
Net Debt	$2.9B