Eversource Energy (ES) FY2019 results: revenue $8.5 billion, up 0.9% on the year
Eversource Energy (ES) reported revenue of $8.5 billion for fiscal 2019, the year ended 31 December 2019, up 0.9% on the year before. Net income was $917 million, down 11.9%, and diluted earnings per share $2.81. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$8.5 billion
+0.9% on the year
FY2012FY2019
Operating margin
18.7%
20.1% a year earlier
FY2012FY2019
Net income
$917 million
-11.9% on the year
FY2012FY2019
Diluted EPS
$2.81
-13.5% 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
8,526
8,448
7,752
+0.9%
Operating income
1,590
1,700
1,888
-6.4%
Operating margin
18.7%
20.1%
24.4%
Interest expense
533
499
422
+6.9%
Income tax
273
289
579
-5.4%
Net income
917
1,041
996
-11.9%
Net margin
10.7%
12.3%
12.8%
Diluted EPS
$2.81
$3.25
$3.11
-13.5%
$ 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
2,010
1,831
1,996
+9.8%
Capital expenditure
2,911
2,570
2,348
+13.3%
Free cash flow
-902
-739
-352
Free cash flow margin
-10.6%
-8.8%
-4.5%
Cash from investing
-3,274
-2,437
-3,231
Cash from financing
1,172
730
1,213
+60.6%
Depreciation and amortisation
1,081
1,072
864
+0.8%
Share-based compensation
27.3
21.4
19.7
+27.6%
Dividends paid
663
640
602
+3.6%
Dividend per share
$2.14
$2.02
$1.90
+5.9%
Diluted shares, weighted
323m
318m
318m
+1.6%
Shares outstanding at period end
330m
317m
317m
+4.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
12,630
11,487
11,086
+10.0%
Debt
14,098
13,086
12,326
+7.7%
Operating lease liabilities
41.3
n/a
n/a
Finance lease liabilities
8.1
n/a
n/a
Other liabilities
14,346
13,668
12,809
+5.0%
Total liabilities and equity
41,124
38,241
36,220
+7.5%
Goodwill
4,427
4,427
4,427
0.0%
Investments
449
418
585
+7.6%
Cash and equivalents
15.4
209
85.9
-92.6%
Receivables
989
994
925
-0.5%
Other assets
35,243
32,193
30,197
+9.5%
Total assets
41,124
38,241
36,220
+7.5%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.