Pg&E (PCG) FY2018 results: revenue $16.8 billion, down 2.2% on the year
Pg&E Corp. (PCG) reported revenue of $16.8 billion for fiscal 2018, the year ended 31 December 2018, down 2.2% on the year before. Net income was -$6.9 billion, and diluted earnings per share $-13.25. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$16.8 billion
-2.2% on the year
FY2011FY2018
Operating margin
-57.9%
17.0% a year earlier
FY2011FY2018
Net income
-$6.9 billion
FY2011FY2018
Diluted EPS
-$13.25
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
16,759
17,135
17,666
-2.2%
Operating income
-9,700
2,905
2,080
Operating margin
-57.9%
17.0%
11.8%
Interest expense
929
888
829
+4.6%
Pre-tax income
-10,129
2,171
1,462
Income tax
-3,292
511
55.0
Effective tax rate
n/a
23.5%
3.8%
Net income
-6,851
1,646
1,393
Net margin
-40.9%
9.6%
7.9%
Diluted EPS
-$13.25
$3.21
$2.78
$ 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
4,752
5,977
4,409
-20.5%
Capital expenditure
6,514
5,641
5,709
+15.5%
Free cash flow
-1,762
336
-1,300
Free cash flow margin
-10.5%
2.0%
-7.4%
Cash from investing
-6,564
-5,650
-5,753
Cash from financing
3,031
-55.0
1,171
Share-based compensation
89.0
85.0
108
+4.7%
Dividends paid
0.0
1,021
921
Diluted shares, weighted
517m
513m
501m
+0.8%
Shares outstanding at period end
520m
515m
507m
+1.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
12,651
19,220
17,940
-34.2%
Non-controlling interest
252
252
252
0.0%
Short-term borrowings
3,435
n/a
n/a
Debt
40,634
19,129
18,436
+112.4%
Other liabilities
20,023
29,411
31,970
-31.9%
Total liabilities and equity
76,995
68,012
68,598
+13.2%
Fixed assets
58,557
53,789
50,581
+8.9%
Securities held for sale or to maturity
3,138
3,303
1,192
-5.0%
Cash and equivalents
1,668
449
177
+271.5%
Receivables
1,148
1,243
1,252
-7.6%
Inventory
111
115
117
-3.5%
Other assets
12,373
9,113
15,279
+35.8%
Total assets
76,995
68,012
68,598
+13.2%
10-K for the year ended 31 December 2018, filed 18 February 2020: the filing.