Firstenergy (FE) FY2018 results: revenue $11.3 billion, up 3.0% on the year
Firstenergy Corp. (FE) reported revenue of $11.3 billion for fiscal 2018, the year ended 31 December 2018, up 3.0% on the year before. Net income was $1.3 billion, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$11.3 billion
+3.0% on the year
FY2011FY2018
Operating margin
22.2%
22.2% a year earlier
FY2011FY2018
Net income
$1.3 billion
FY2011FY2018
Diluted EPS
$1.99
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
11,261
10,928
10,700
+3.0%
Operating income
2,502
2,428
2,054
+3.0%
Operating margin
22.2%
22.2%
19.2%
Interest expense
1,116
1,005
973
+11.0%
Pre-tax income
1,512
1,426
1,078
+6.0%
Income tax
490
1,715
527
-71.4%
Effective tax rate
32.4%
120.3%
48.9%
Net income
1,348
-1,724
-6,177
Net margin
12.0%
-15.8%
-57.7%
Diluted EPS
$1.99
-$3.88
-$14.49
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,410
3,808
3,383
-63.0%
Capital expenditure
2,675
2,587
2,835
+3.4%
Free cash flow
-1,265
1,221
548
Free cash flow margin
-11.2%
11.2%
5.1%
Cash from investing
-3,018
-2,723
-3,302
Cash from financing
1,394
-702
-34.0
Depreciation and amortisation
1,384
1,700
1,974
-18.6%
Share-based compensation
0.0
n/a
n/a
Dividends paid
711
639
611
+11.3%
Dividend per share
$1.82
$1.44
$1.44
+26.4%
Diluted shares, weighted
494m
444m
426m
+11.3%
Shares outstanding at period end
512m
445m
442m
+15.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
6,814
3,925
6,241
+73.6%
Non-controlling interest
n/a
n/a
0.0
Debt
19,504
19,545
22,552
-0.2%
Other liabilities
13,745
18,787
14,355
-26.8%
Total liabilities and equity
40,063
42,257
43,148
-5.2%
Fixed assets
29,911
28,101
29,387
+6.4%
Goodwill
5,618
5,618
5,618
0.0%
Intangible assets
93.0
105
120
-11.4%
Investments
1,299
3,203
3,026
-59.4%
Cash and equivalents
367
589
199
-37.7%
Receivables
1,221
1,282
1,440
-4.8%
Inventory
252
236
564
+6.8%
Other assets
1,302
3,123
2,794
-58.3%
Total assets
40,063
42,257
43,148
-5.2%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.