Firstenergy (FE) FY2014 results: revenue $15.0 billion, up 1.1% on the year
Firstenergy Corp. (FE) reported revenue of $15.0 billion for fiscal 2014, the year ended 31 December 2014, up 1.1% on the year before. Net income was $299 million, down 23.7%, and diluted earnings per share $0.71. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$15.0 billion
+1.1% on the year
FY2007FY2014
Operating margin
7.1%
10.6% a year earlier
FY2007FY2014
Net income
$299 million
-23.7% on the year
FY2007FY2014
Diluted EPS
$0.71
-24.5% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
15,049
14,892
15,253
+1.1%
Operating income
1,062
1,582
2,134
-32.9%
Operating margin
7.1%
10.6%
14.0%
Interest expense
1,081
1,016
1,001
+6.4%
Pre-tax income
171
570
1,300
-70.0%
Income tax
-42.0
195
545
Effective tax rate
-24.6%
34.2%
41.9%
Net income
299
392
770
-23.7%
Net margin
2.0%
2.6%
5.0%
Diluted EPS
$0.71
$0.94
$1.84
-24.5%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
2,713
2,662
2,320
+1.9%
Capital expenditure
3,312
2,638
2,678
+25.5%
Free cash flow
-599
24.0
-358
Free cash flow margin
-4.0%
0.2%
-2.3%
Cash from investing
-3,359
n/a
n/a
Cash from financing
513
n/a
n/a
Depreciation and amortisation
1,592
2,022
1,051
-21.3%
Share-based compensation
69.0
60.0
89.0
+15.0%
Dividends paid
604
920
920
-34.3%
Dividend per share
$1.44
$1.65
$2.20
-12.7%
Diluted shares, weighted
421m
419m
419m
+0.5%
Shares outstanding at period end
421m
419m
418m
+0.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
12,420
12,692
13,084
-2.1%
Non-controlling interest
2.0
3.0
9.0
-33.3%
Debt
21,779
20,650
19,147
+5.5%
Other liabilities
17,351
17,079
18,166
+1.6%
Total liabilities and equity
51,552
50,424
50,406
+2.2%
Fixed assets
35,783
33,252
33,036
+7.6%
Goodwill
6,418
6,418
6,447
0.0%
Intangible assets
496
588
702
-15.6%
Investments
3,222
3,104
3,194
+3.8%
Cash and equivalents
85.0
218
172
-61.0%
Receivables
1,554
1,720
1,614
-9.7%
Inventory
817
752
861
+8.6%
Other assets
3,177
4,372
4,380
-27.3%
Total assets
51,552
50,424
50,406
+2.2%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.