PPL (PPL) FY2019 results: revenue $5.6 billion, down 28.0% on the year
PPL Corp. (PPL) reported revenue of $5.6 billion for fiscal 2019, the year ended 31 December 2019, down 28.0% on the year before. Net income was $1.7 billion, down 4.4%, and diluted earnings per share $2.37. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$5.6 billion
-28.0% on the year
FY2012FY2019
Operating margin
27.2%
36.6% a year earlier
FY2012FY2019
Net income
$1.7 billion
-4.4% on the year
FY2012FY2019
Diluted EPS
$2.37
-8.1% on the year
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
5,602
7,785
7,447
-28.0%
Operating income
1,526
2,852
2,901
-46.5%
Operating margin
27.2%
36.6%
39.0%
Interest expense
621
963
901
-35.5%
Pre-tax income
919
2,285
1,912
-59.8%
Income tax
183
458
784
-60.0%
Effective tax rate
19.9%
20.0%
41.0%
Net income
1,746
1,827
1,128
-4.4%
Net margin
31.2%
23.5%
15.1%
Diluted EPS
$2.37
$2.58
$1.64
-8.1%
$ 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
2,427
2,821
2,461
-14.0%
Capital expenditure
2,243
3,238
3,133
-30.7%
Free cash flow
184
-417
-672
Free cash flow margin
3.3%
-5.4%
-9.0%
Cash from investing
-3,080
-3,361
-3,156
Cash from financing
836
690
824
+21.2%
Depreciation
949
1,094
1,008
-13.3%
Share-based compensation
36.0
26.0
38.0
+38.5%
Buybacks
0.0
n/a
n/a
Dividends paid
1,192
1,133
1,072
+5.2%
Dividend per share
$1.65
$1.64
$1.58
+0.6%
Diluted shares, weighted
737m
709m
687m
+4.0%
Shares outstanding at period end
767m
720m
693m
+6.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
12,991
11,657
10,761
+11.4%
Short-term borrowings
1,151
1,430
1,080
-19.5%
Debt
21,893
20,599
20,195
+6.3%
Other liabilities
9,645
9,710
9,443
-0.7%
Total liabilities and equity
45,680
43,396
41,479
+5.3%
Fixed assets
36,482
34,458
33,092
+5.9%
Goodwill
3,198
3,162
3,258
+1.1%
Intangible assets
742
716
697
+3.6%
Cash and equivalents
815
621
485
+31.2%
Receivables
687
663
681
+3.6%
Inventory
332
303
320
+9.6%
Other assets
3,424
3,473
2,946
-1.4%
Total assets
45,680
43,396
41,479
+5.3%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.