2017 Q4 Form 10-Q Financial Statement

#000127344117000048 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $127.2M $103.8M $68.50M
YoY Change 38.86% 51.53% -9.51%
Cost Of Revenue $37.00M $33.40M $31.40M
YoY Change 15.99% 6.37% -7.1%
Gross Profit $90.10M $70.40M $37.10M
YoY Change 50.92% 89.76% -11.46%
Gross Profit Margin 70.83% 67.82% 54.16%
Selling, General & Admin $12.10M $8.700M $5.600M
YoY Change -3.97% 55.36% -29.11%
% of Gross Profit 13.43% 12.36% 15.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.30M $35.80M $35.70M
YoY Change 6.57% 0.28% -390.24%
% of Gross Profit 41.4% 50.85% 96.23%
Operating Expenses $51.40M $43.60M $41.30M
YoY Change -3.93% 5.57% -80.59%
Operating Profit $38.70M $26.80M -$4.200M
YoY Change 524.19% -738.1% -97.54%
Interest Expense -$25.00M -$3.500M -$6.000M
YoY Change 309.84% -41.67% -156.6%
% of Operating Profit -64.6% -13.06%
Other Income/Expense, Net $500.0K $600.0K $0.00
YoY Change 4330384257086918.0%
Pretax Income -$22.00M $21.22M -$336.2M
YoY Change -86.03% -106.31% 108.95%
Income Tax $17.80M $18.09M -$106.6M
% Of Pretax Income 85.25%
Net Earnings -$40.80M $3.130M -$229.6M
YoY Change -67.97% -101.36% 125.39%
Net Earnings / Revenue -32.08% 3.02% -335.21%
Basic Earnings Per Share $0.01
Diluted Earnings Per Share -$103.4K $0.01 -$713.7K
COMMON SHARES
Basic Shares Outstanding 388.4M shares 394.8M shares 321.7M shares
Diluted Shares Outstanding 394.8M shares 321.7M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.40M $15.10M $50.60M
YoY Change 48.41% -70.16% -73.92%
Cash & Equivalents $12.33M $15.13M $48.07M
Short-Term Investments $25.10M $2.500M
Other Short-Term Assets $9.893M $6.600M $3.003M
YoY Change -62.95% 119.78% -31.75%
Inventory $7.075M $6.978M $11.81M
Prepaid Expenses
Receivables $45.35M $38.28M $20.83M
Other Receivables $40.80M $34.90M $31.70M
Total Short-Term Assets $145.2M $101.9M $136.3M
YoY Change 10.3% -25.27% -48.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.099B $1.128B $1.204B
YoY Change 3.06% -6.34% 36.46%
Goodwill $102.6M $102.6M $102.6M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $19.10M
YoY Change
Other Assets $6.112M $13.79M $24.85M
YoY Change -74.13% -44.5% 272.5%
Total Long-Term Assets $1.284B $1.321B $1.351B
YoY Change 3.9% -2.19% 34.47%
TOTAL ASSETS
Total Short-Term Assets $145.2M $101.9M $136.3M
Total Long-Term Assets $1.284B $1.321B $1.351B
Total Assets $1.430B $1.423B $1.487B
YoY Change 4.51% -4.3% 17.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.2M $119.8M $96.80M
YoY Change 17.83% 23.76% 272.54%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $127.5M
YoY Change
Total Short-Term Liabilities $157.0M $122.7M $234.5M
YoY Change 1.25% -47.68% 210.29%
LONG-TERM LIABILITIES
Long-Term Debt $256.5M $229.2M $172.8M
YoY Change 30.17% 32.66%
Other Long-Term Liabilities $8.980M $13.82M $11.21M
YoY Change -21.4% 23.2% -66.72%
Total Long-Term Liabilities $336.3M $316.0M $390.1M
YoY Change -4.96% -18.99% 260.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $157.0M $122.7M $234.5M
Total Long-Term Liabilities $336.3M $316.0M $390.1M
Total Liabilities $493.3M $438.7M $624.6M
YoY Change -3.07% -29.76% 239.72%
SHAREHOLDERS EQUITY
Retained Earnings -$401.2M -$360.4M -$366.6M
YoY Change -18.78% -1.7% -774.98%
Common Stock $10.30M $10.30M $10.26M
YoY Change -0.08% 0.38% 0.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $936.3M $984.5M $862.6M
YoY Change
Total Liabilities & Shareholders Equity $1.430B $1.423B $1.487B
YoY Change 4.51% -4.3% 17.02%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$40.80M $3.130M -$229.6M
YoY Change -67.97% -101.36% 125.39%
Depreciation, Depletion And Amortization $37.30M $35.80M $35.70M
YoY Change 6.57% 0.28% -390.24%
Cash From Operating Activities $67.10M $55.00M $48.20M
YoY Change 916.67% 14.11% -13.77%
INVESTING ACTIVITIES
Capital Expenditures -$79.40M -$71.70M -$25.10M
YoY Change 36.66% 185.66% 9.13%
Acquisitions
YoY Change
Other Investing Activities -$8.900M $11.90M -$413.1M
YoY Change -258.93% -102.88% -68950.0%
Cash From Investing Activities -$88.20M -$59.70M -$438.3M
YoY Change 68.32% -86.38% 1848.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.80M -35.00M 275.8M
YoY Change 10.59% -112.69% -4278.79%
NET CHANGE
Cash From Operating Activities 67.10M 55.00M 48.20M
Cash From Investing Activities -88.20M -59.70M -438.3M
Cash From Financing Activities 18.80M -35.00M 275.8M
Net Change In Cash -2.300M -39.70M -114.3M
YoY Change -92.01% -65.27% -526.49%
FREE CASH FLOW
Cash From Operating Activities $67.10M $55.00M $48.20M
Capital Expenditures -$79.40M -$71.70M -$25.10M
Free Cash Flow $146.5M $126.7M $73.30M
YoY Change 126.43% 72.85% -7.1%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gran Tierra Energy Inc., a Delaware corporation (the &#8220;Company&#8221; or &#8220;Gran Tierra&#8221;), is a publicly traded company focused on oil and natural gas exploration and production in Colombia. The Company also has business activities in Peru and, until June 30, 2017, had business activities in Brazil.</font></div></div>

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