Avista (AVA) FY2019 results: revenue $1.3 billion, down 3.7% on the year
Avista Corp. (AVA) reported revenue of $1.3 billion for fiscal 2019, the year ended 31 December 2019, down 3.7% on the year before. Net income was $197 million, up 44.4%, and diluted earnings per share $2.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$1.3 billion
-3.7% on the year
FY2012FY2019
Operating margin
15.6%
18.7% a year earlier
FY2012FY2019
Net income
$197 million
+44.4% on the year
FY2012FY2019
Diluted EPS
$2.97
+43.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,346
1,397
1,446
-3.7%
Operating income
210
261
292
-19.4%
Operating margin
15.6%
18.7%
20.2%
Interest expense
103
99.7
95.4
+3.3%
Pre-tax income
228
163
199
+40.3%
Income tax
31.4
26.1
82.8
+20.4%
Effective tax rate
13.8%
16.0%
41.7%
Net income
197
136
116
+44.4%
Net margin
14.6%
9.8%
8.0%
Diluted EPS
$2.97
$2.07
$1.79
+43.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
398
362
410
+10.0%
Capital expenditure
443
424
412
+4.3%
Free cash flow
-44.3
-62.5
-2.0
Free cash flow margin
-3.3%
-4.5%
-0.1%
Cash from investing
-446
-440
-434
Cash from financing
42.5
77.0
31.5
-44.8%
Depreciation and amortisation
206
187
176
+10.0%
Share-based compensation
11.4
5.4
7.4
+111.5%
Buybacks
n/a
n/a
0.0
Dividends paid
103
98.0
92.5
+4.8%
Dividend per share
$1.55
$1.49
$1.43
+4.0%
Diluted shares, weighted
66m
66m
65m
+0.6%
Shares outstanding at period end
67m
66m
65m
+2.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,939
1,773
1,730
+9.4%
Non-controlling interest
0.0
0.8
0.7
Debt
2,082
2,105
1,926
-1.1%
Operating lease liabilities
65.6
0.0
n/a
Finance lease liabilities
51.8
0.0
n/a
Other liabilities
1,944
1,904
1,858
+2.1%
Total liabilities and equity
6,082
5,783
5,515
+5.2%
Goodwill
52.4
57.7
57.7
-9.1%
Cash and equivalents
9.9
14.7
16.2
-32.5%
Inventory
66.6
63.9
58.1
+4.2%
Other assets
5,954
5,646
5,383
+5.4%
Total assets
6,082
5,783
5,515
+5.2%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.