Firstenergy (FE) FY2023 results: revenue $12.9 billion, up 3.3% on the year
Firstenergy Corp. (FE) reported revenue of $12.9 billion for fiscal 2023, the year ended 31 December 2023, up 3.3% on the year before. Net income was $1.1 billion, up 171.4%, and diluted earnings per share $1.92. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$12.9 billion
+3.3% on the year
FY2016FY2023
Operating margin
17.6%
15.3% a year earlier
FY2016FY2023
Net income
$1.1 billion
+171.4% on the year
FY2016FY2023
Diluted EPS
$1.92
+170.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,387
2,683
2,811
-48.3%
Capital expenditure
3,356
2,848
2,487
+17.8%
Free cash flow
-1,969
-165
324
Free cash flow margin
-15.3%
-1.3%
2.9%
Cash from investing
-3,652
-3,076
-2,559
Cash from financing
2,238
-912
-542
Depreciation and amortisation
n/a
1,317
1,664
Dividends paid
906
891
849
+1.7%
Dividend per share
$1.60
$1.56
$1.56
+2.6%
Diluted shares, weighted
574m
572m
546m
+0.3%
Shares outstanding at period end
574m
572m
570m
+0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,437
10,166
8,675
+2.7%
Non-controlling interest
479
477
0.0
+0.4%
Debt
24,910
21,654
23,854
+15.0%
Operating lease liabilities
179
247
271
-27.5%
Finance lease liabilities
11.0
17.0
23.0
-35.3%
Other liabilities
12,751
13,547
12,609
-5.9%
Total liabilities and equity
48,767
46,108
45,432
+5.8%
Fixed assets
38,412
36,285
34,744
+5.9%
Goodwill
5,618
5,618
5,618
0.0%
Investments
663
622
655
+6.6%
Cash and equivalents
137
160
1,462
-14.4%
Receivables
1,318
1,318
1,033
0.0%
Inventory
512
421
260
+21.6%
Other assets
2,107
1,684
1,660
+25.1%
Total assets
48,767
46,108
45,432
+5.8%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.