Novelis Inc. (NVL) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21
	10-Q	8-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
North America	1,732		1,958	2,096		1,716	1,671	1,456
Europe	1,181		1,315	1,394		1,156	1,089	1,120
Asia	669		849	858		710	728	672
South America	529		751	826	740	727	595	576
Other					4,109	17	36	31
Total revenues	4,091	4,397	4,799	5,089	4,849	4,326	4,119	3,855
Revenue growth [+]	-19.6%	-9.3%	16.5%	32.0%	33.5%	33.5%	38.3%	58.9%
North America	-17.4%		17.2%	44.0%		45.7%	40.2%	75.8%
Europe	-15.3%		20.8%	24.5%		18.4%	33.3%	63.0%
Asia	-22.0%		16.6%	27.7%		27.7%	50.4%	33.1%
South America	-36.0%		26.2%	43.4%	38.3%	49.6%	40.0%	63.6%
Cost of goods sold	3,548	3,797	4,211	4,369	4,284	3,659	3,504	3,129
Gross profit	543	600	588	720	565	667	615	726
Gross margin	13.3%	13.6%	12.3%	14.1%	11.7%	15.4%	14.9%	18.8%
Selling, general and administrative [+]	174	170	181	164	174	156	142	159
General and administrative					174
Research and development	25	26	23	23	24	23	21	24
Equity in earnings	3	-2	4	4		7		1
Other operating expenses	-47	207	-71	-104	-78	-44	24	4
EBITDA [+]	394		459	641	445	539	428	540
EBITDA growth	-38.5%	-56.2%	7.2%	18.7%	-12.9%	9.8%	-4.5%	191.9%
EBITDA margin	9.6%	4.4%	9.6%	12.6%	9.2%	12.5%	10.4%	14.0%
Depreciation and amortization	131		134	138	145	137	134	134
EBIT [+]	263	195	325	503	300	402	294	406
EBIT growth	-47.7%	-35.0%	10.5%	23.9%	-17.6%	13.6%	-4.2%	506.0%
EBIT margin	6.4%	4.4%	6.8%	9.9%	6.2%	9.3%	7.1%	10.5%
Non-recurring items	3	26	1	1		3		-2
Interest expense	77		65	58	54	54	60	59
Interest expense	77		65	58	54	54	60	59
Other income (expense), net [+]	27	-12	-10	-50	-24	3	84	62
Gain (loss) on debt retirement					-1	-1	-64	2
Other	27	-12	-10	-50	-25	2	20	64
Pre-tax income	210	157	249	394	222	348	318	411
Income taxes	54	1	65	87	5	89	79	108
Tax rate	25.7%	0.6%	26.1%	22.1%	2.3%	25.6%	24.8%	26.3%
Minority interest				-1	1
Earnings from continuing ops	156	156	184	307	216	259	239	303
Earnings from discontinued ops			-1		-1	3	-2	-63
Net income	156	156	183	307	215	262	237	240
Net margin	3.8%	3.5%	3.8%	6.0%	4.4%	6.1%	5.8%	6.2%

Basic EPS
Diluted EPS

Shares outstanding (basic)
Shares outstanding (diluted)

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.