Eversource Energy (ES) FY2020 results: revenue $8.9 billion, up 4.4% on the year
Eversource Energy (ES) reported revenue of $8.9 billion for fiscal 2020, the year ended 31 December 2020, up 4.4% on the year before. Net income was $1.2 billion, up 32.3%, and diluted earnings per share $3.55. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$8.9 billion
+4.4% on the year
FY2013FY2020
Operating margin
22.3%
18.7% a year earlier
FY2013FY2020
Net income
$1.2 billion
+32.3% on the year
FY2013FY2020
Diluted EPS
$3.55
+26.3% 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
8,904
8,526
8,448
+4.4%
Operating income
1,989
1,590
1,700
+25.0%
Operating margin
22.3%
18.7%
20.1%
Interest expense
538
533
499
+1.0%
Income tax
346
273
289
+26.6%
Net income
1,213
917
1,041
+32.3%
Net margin
13.6%
10.7%
12.3%
Diluted EPS
$3.55
$2.81
$3.25
+26.3%
$ 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
1,683
2,010
1,831
-16.3%
Capital expenditure
2,943
2,911
2,570
+1.1%
Free cash flow
-1,260
-902
-739
Free cash flow margin
-14.2%
-10.6%
-8.8%
Cash from investing
-4,129
-3,274
-2,437
Cash from financing
2,595
1,172
730
+121.3%
Depreciation and amortisation
1,159
1,081
1,072
+7.3%
Share-based compensation
33.9
27.3
21.4
+24.2%
Dividends paid
745
663
640
+12.3%
Dividend per share
$2.27
$2.14
$2.02
+6.1%
Diluted shares, weighted
340m
323m
318m
+5.2%
Shares outstanding at period end
343m
330m
317m
+4.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
14,064
12,630
11,487
+11.4%
Debt
16,179
14,098
13,086
+14.8%
Operating lease liabilities
45.7
41.3
n/a
+10.7%
Finance lease liabilities
57.6
8.1
n/a
+611.1%
Other liabilities
15,754
14,346
13,668
+9.8%
Total liabilities and equity
46,100
41,124
38,241
+12.1%
Goodwill
4,446
4,427
4,427
+0.4%
Investments
457
449
418
+1.7%
Cash and equivalents
265
15.4
209
+1,616.9%
Receivables
1,196
989
994
+20.9%
Other assets
39,736
35,243
32,193
+12.7%
Total assets
46,100
41,124
38,241
+12.1%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.