Regency Centers (REG) FY2020 results: revenue $1.0 billion, down 10.3% on the year
Regency Centers Corp. (REG) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, down 10.3% on the year before. Net income was $45 million, down 81.3%, and diluted earnings per share $0.26. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$1.0 billion
-10.3% on the year
FY2017FY2020
Operating margin
26.5%
32.6% a year earlier
FY2017FY2020
Net income
$45 million
-81.3% on the year
FY2017FY2020
Diluted EPS
$0.26
-81.8% on the year
FY2017FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,016
1,133
1,121
-10.3%
Operating income
270
370
380
-27.1%
Operating margin
26.5%
32.6%
33.9%
Interest expense
157
151
148
+3.6%
Pre-tax income
13.1
182
209
-92.8%
Income tax
1.3
1.2
0.5
+1.7%
Effective tax rate
9.6%
0.7%
0.2%
Net income
44.9
239
249
-81.3%
Net margin
4.4%
21.1%
22.2%
Diluted EPS
$0.26
$1.43
$1.46
-81.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
499
621
610
-19.7%
Capital expenditure
181
200
226
-9.6%
Free cash flow
318
421
384
-24.4%
Free cash flow margin
31.3%
37.2%
34.3%
Cash from investing
-25.6
-283
-106
Cash from financing
-211
-268
-508
Depreciation and amortisation
346
374
360
-7.6%
Share-based compensation
13.6
14.3
13.6
-5.3%
Buybacks
0.0
32.8
214
Dividends paid
301
391
376
-23.1%
Dividend per share
$2.38
$2.34
$2.22
+1.7%
Diluted shares, weighted
169m
168m
170m
+1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,985
6,213
6,398
-3.7%
Non-controlling interest
73.2
76.6
52.2
-4.4%
Debt
3,923
3,920
3,715
+0.1%
Other liabilities
956
923
779
+3.6%
Total liabilities and equity
10,937
11,132
10,945
-1.8%
Fixed assets
6.6
7.1
6.1
-7.6%
Goodwill
174
307
314
-43.4%
Intangible assets
189
243
387
-22.2%
Cash and equivalents
378
116
45.2
+227.5%
Other assets
10,189
10,459
10,192
-2.6%
Total assets
10,937
11,132
10,945
-1.8%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.