Pg&E (PCG) FY2019 results: revenue $17.1 billion, up 2.2% on the year
Pg&E Corp. (PCG) reported revenue of $17.1 billion for fiscal 2019, the year ended 31 December 2019, up 2.2% on the year before. Net income was -$7.7 billion, and diluted earnings per share $-14.50. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$17.1 billion
+2.2% on the year
FY2012FY2019
Operating margin
-58.9%
-57.9% a year earlier
FY2012FY2019
Net income
-$7.7 billion
FY2012FY2019
Diluted EPS
-$14.50
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
17,129
16,759
17,135
+2.2%
Operating income
-10,094
-9,700
2,905
Operating margin
-58.9%
-57.9%
17.0%
Interest expense
934
929
888
+0.5%
Pre-tax income
-11,042
-10,129
2,171
Income tax
-3,400
-3,292
511
Effective tax rate
n/a
n/a
23.5%
Net income
-7,656
-6,851
1,646
Net margin
-44.7%
-40.9%
9.6%
Diluted EPS
-$14.50
-$13.25
$3.21
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,816
4,752
5,977
+1.3%
Capital expenditure
6,313
6,514
5,641
-3.1%
Free cash flow
-1,497
-1,762
336
Free cash flow margin
-8.7%
-10.5%
2.0%
Cash from investing
-6,378
-6,564
-5,650
Cash from financing
1,464
3,031
-55.0
-51.7%
Share-based compensation
50.0
89.0
85.0
-43.8%
Dividends paid
0.0
0.0
1,021
Diluted shares, weighted
528m
517m
513m
+2.1%
Shares outstanding at period end
529m
520m
515m
+1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,136
12,651
19,220
-59.4%
Non-controlling interest
252
252
252
0.0%
Short-term borrowings
n/a
3,435
n/a
Debt
1,500
40,634
19,129
-96.3%
Operating lease liabilities
1,730
n/a
n/a
Other liabilities
76,578
20,023
29,411
+282.5%
Total liabilities and equity
85,196
76,995
68,012
+10.7%
Fixed assets
61,635
58,557
53,789
+5.3%
Securities held for sale or to maturity
3,703
3,138
3,303
+18.0%
Cash and equivalents
1,570
1,668
449
-5.9%
Receivables
1,287
1,148
1,243
+12.1%
Inventory
97.0
111
115
-12.6%
Other assets
16,904
12,373
9,113
+36.6%
Total assets
85,196
76,995
68,012
+10.7%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.