PPL (PPL) FY2018 results: revenue $7.8 billion, up 4.5% on the year
PPL Corp. (PPL) reported revenue of $7.8 billion for fiscal 2018, the year ended 31 December 2018, up 4.5% on the year before. Net income was $1.8 billion, up 62.0%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$7.8 billion
+4.5% on the year
FY2011FY2018
Operating margin
36.6%
39.0% a year earlier
FY2011FY2018
Net income
$1.8 billion
+62.0% on the year
FY2011FY2018
Diluted EPS
$2.58
+57.3% on the year
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
7,785
7,447
7,517
+4.5%
Operating income
2,852
2,901
2,936
-1.7%
Operating margin
36.6%
39.0%
39.1%
Interest expense
963
901
888
+6.9%
Pre-tax income
2,285
1,912
2,550
+19.5%
Income tax
458
784
648
-41.6%
Effective tax rate
20.0%
41.0%
25.4%
Net income
1,827
1,128
1,902
+62.0%
Net margin
23.5%
15.1%
25.3%
Diluted EPS
$2.58
$1.64
$2.79
+57.3%
$ 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
2,821
2,461
2,890
+14.6%
Capital expenditure
3,238
3,133
2,920
+3.4%
Free cash flow
-417
-672
-30.0
Free cash flow margin
-5.4%
-9.0%
-0.4%
Cash from investing
-3,361
-3,156
-2,926
Cash from financing
690
824
-439
-16.3%
Depreciation
1,094
1,008
926
+8.5%
Share-based compensation
26.0
38.0
28.0
-31.6%
Dividends paid
1,133
1,072
1,030
+5.7%
Dividend per share
$1.64
$1.58
$1.52
+3.8%
Diluted shares, weighted
709m
687m
680m
+3.1%
Shares outstanding at period end
720m
693m
680m
+3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
11,657
10,761
9,899
+8.3%
Short-term borrowings
1,430
1,080
923
+32.4%
Debt
20,599
20,195
18,326
+2.0%
Other liabilities
9,710
9,443
9,167
+2.8%
Total liabilities and equity
43,396
41,479
38,315
+4.6%
Fixed assets
34,458
33,092
30,074
+4.1%
Goodwill
3,162
3,258
3,060
-2.9%
Intangible assets
716
697
700
+2.7%
Cash and equivalents
621
485
341
+28.0%
Receivables
663
681
666
-2.6%
Inventory
303
320
356
-5.3%
Other assets
3,473
2,946
3,118
+17.9%
Total assets
43,396
41,479
38,315
+4.6%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.