Firstenergy (FE) FY2013 results: revenue $14.9 billion, down 2.4% on the year
Firstenergy Corp. (FE) reported revenue of $14.9 billion for fiscal 2013, the year ended 31 December 2013, down 2.4% on the year before. Net income was $392 million, down 49.1%, and diluted earnings per share $0.94. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$14.9 billion
-2.4% on the year
FY2007FY2013
Operating margin
10.6%
14.0% a year earlier
FY2007FY2013
Net income
$392 million
-49.1% on the year
FY2007FY2013
Diluted EPS
$0.94
-48.9% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
14,892
15,253
16,105
-2.4%
Operating income
1,582
2,134
1,677
-25.9%
Operating margin
10.6%
14.0%
10.4%
Interest expense
1,016
1,001
1,008
+1.5%
Pre-tax income
570
1,300
1,422
-56.2%
Income tax
195
545
566
-64.2%
Effective tax rate
34.2%
41.9%
39.8%
Net income
392
770
885
-49.1%
Net margin
2.6%
5.0%
5.5%
Diluted EPS
$0.94
$1.84
$2.21
-48.9%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,662
2,320
3,063
+14.7%
Capital expenditure
2,638
2,678
2,129
-1.5%
Free cash flow
24.0
-358
934
Free cash flow margin
0.2%
-2.3%
5.8%
Cash from investing
n/a
n/a
-956
Cash from financing
n/a
n/a
-2,924
Depreciation and amortisation
2,022
1,051
1,391
+92.4%
Share-based compensation
60.0
89.0
-10.0
-32.6%
Dividends paid
920
920
881
0.0%
Dividend per share
$1.65
$2.20
$2.20
-25.0%
Diluted shares, weighted
419m
419m
401m
0.0%
Shares outstanding at period end
419m
418m
418m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
12,692
13,084
13,280
-3.0%
Non-controlling interest
3.0
9.0
19.0
-66.7%
Debt
20,650
19,147
17,337
+7.8%
Other liabilities
17,079
18,166
16,690
-6.0%
Total liabilities and equity
50,424
50,406
47,326
+0.0%
Fixed assets
33,252
33,036
30,337
+0.7%
Goodwill
6,418
6,447
6,441
-0.4%
Intangible assets
588
702
803
-16.2%
Investments
3,104
3,194
3,522
-2.8%
Cash and equivalents
218
172
202
+26.7%
Receivables
1,720
1,614
1,525
+6.6%
Inventory
752
861
811
-12.7%
Other assets
4,372
4,380
3,685
-0.2%
Total assets
50,424
50,406
47,326
+0.0%
10-K for the year ended 31 December 2013, filed 17 February 2015: the filing.