Avista (AVA) FY2020 results: revenue $1.3 billion, down 1.8% on the year
Avista Corp. (AVA) reported revenue of $1.3 billion for fiscal 2020, the year ended 31 December 2020, down 1.8% on the year before. Net income was $129 million, down 34.3%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$1.3 billion
-1.8% on the year
FY2013FY2020
Operating margin
17.6%
15.6% a year earlier
FY2013FY2020
Net income
$129 million
-34.3% on the year
FY2013FY2020
Diluted EPS
$1.90
-36.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,322
1,346
1,397
-1.8%
Operating income
233
210
261
+10.6%
Operating margin
17.6%
15.6%
18.7%
Interest expense
n/a
103
99.7
Pre-tax income
137
228
163
-40.2%
Income tax
7.1
31.4
26.1
-77.5%
Effective tax rate
5.2%
13.8%
16.0%
Net income
129
197
136
-34.3%
Net margin
9.8%
14.6%
9.8%
Diluted EPS
$1.90
$2.97
$2.07
-36.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
331
398
362
-16.9%
Capital expenditure
404
443
424
-8.6%
Free cash flow
-73.3
-44.3
-62.5
Free cash flow margin
-5.5%
-3.3%
-4.5%
Cash from investing
-411
-446
-440
Cash from financing
84.0
42.5
77.0
+97.6%
Depreciation and amortisation
224
206
187
+8.8%
Share-based compensation
5.8
11.4
5.4
-48.5%
Dividends paid
110
103
98.0
+7.3%
Dividend per share
$1.62
$1.55
$1.49
+4.5%
Diluted shares, weighted
68m
66m
66m
+2.7%
Shares outstanding at period end
69m
67m
66m
+3.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,030
1,939
1,773
+4.7%
Non-controlling interest
n/a
0.0
0.8
Debt
2,212
2,082
2,105
+6.2%
Operating lease liabilities
67.7
65.6
0.0
+3.3%
Finance lease liabilities
48.8
51.8
0.0
-5.7%
Other liabilities
2,044
1,944
1,904
+5.1%
Total liabilities and equity
6,402
6,082
5,783
+5.3%
Goodwill
52.4
52.4
57.7
0.0%
Cash and equivalents
14.2
9.9
14.7
+43.5%
Inventory
67.5
66.6
63.9
+1.3%
Other assets
6,268
5,954
5,646
+5.3%
Total assets
6,402
6,082
5,783
+5.3%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.