Avista (AVA) FY2018 results: revenue $1.4 billion, down 3.4% on the year
Avista Corp. (AVA) reported revenue of $1.4 billion for fiscal 2018, the year ended 31 December 2018, down 3.4% on the year before. Net income was $136 million, up 17.7%, and diluted earnings per share $2.07. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$1.4 billion
-3.4% on the year
FY2011FY2018
Operating margin
18.7%
20.2% a year earlier
FY2011FY2018
Net income
$136 million
+17.7% on the year
FY2011FY2018
Diluted EPS
$2.07
+15.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,397
1,446
1,442
-3.4%
Operating income
261
292
300
-10.6%
Operating margin
18.7%
20.2%
20.8%
Interest expense
99.7
95.4
86.5
+4.6%
Pre-tax income
163
199
215
-18.1%
Income tax
26.1
82.8
78.1
-68.5%
Effective tax rate
16.0%
41.7%
36.3%
Net income
136
116
137
+17.7%
Net margin
9.8%
8.0%
9.5%
Diluted EPS
$2.07
$1.79
$2.15
+15.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
362
410
358
-11.8%
Capital expenditure
424
412
407
+2.9%
Free cash flow
-62.5
-2.0
-48.4
Free cash flow margin
-4.5%
-0.1%
-3.4%
Cash from investing
-440
-434
-432
Cash from financing
77.0
31.5
72.2
+144.8%
Depreciation and amortisation
187
176
165
+6.6%
Share-based compensation
5.4
7.4
7.9
-27.1%
Buybacks
n/a
0.0
0.0
Dividends paid
98.0
92.5
87.2
+6.0%
Dividend per share
$1.49
$1.43
$1.37
+4.2%
Diluted shares, weighted
66m
65m
64m
+1.8%
Shares outstanding at period end
66m
65m
64m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,773
1,730
1,648
+2.5%
Non-controlling interest
0.8
0.7
-0.3
+25.8%
Debt
2,105
1,926
1,854
+9.3%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
1,904
1,858
1,808
+2.5%
Total liabilities and equity
5,783
5,515
5,310
+4.9%
Goodwill
57.7
57.7
57.7
0.0%
Cash and equivalents
14.7
16.2
8.5
-9.4%
Inventory
63.9
58.1
53.3
+10.0%
Other assets
5,646
5,383
5,190
+4.9%
Total assets
5,783
5,515
5,310
+4.9%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.