Talen Energy (TLN) FY2023 results: revenue $2.6 billion, down 17.3% on the year
Talen Energy Corp. (TLN) reported revenue of $2.6 billion for fiscal 2023, the year ended 31 December 2023, down 17.3% on the year before. Net income was $613 million. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
this yearthe year beforeHover a bar for its figure.
The year in brief
The quarters: Q2 FY2023 · Q3 FY2023
Income statement (profit and loss)
| $ million | FY2023 | FY2022 | FY2015 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Revenue | 2,554 | 3,089 | 4,481 | -17.3% | |
| Operating income | 84.0 | 241 | -39.0 | -65.1% | |
| Operating margin | 3.3% | 7.8% | -0.9% | ||
| Interest expense | n/a | n/a | 211 | ||
| Pre-tax income | 871 | -1,328 | -368 | ||
| Income tax | 263 | -35.0 | -27.0 | ||
| Effective tax rate | 30.2% | n/a | n/a | ||
| Net income | 613 | -1,289 | -341 | ||
| Net margin | 24.0% | -41.7% | -7.6% | ||
| Diluted EPS | n/a | n/a | -$3.10 |
$ million except per share.
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Free 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 | FY2023 | FY2022 | FY2015 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Operating cash flow | 864 | 187 | 768 | +362.0% | |
| Capital expenditure | 254 | 232 | 451 | +9.5% | |
| Free cash flow | 610 | -45.0 | 317 | ||
| Free cash flow margin | 23.9% | -1.5% | 7.1% | ||
| Cash from investing | -328 | -368 | -915 | ||
| Cash from financing | -623 | 426 | -64.0 | ||
| Depreciation and amortisation | 365 | 520 | n/a | -29.8% | |
| Share-based compensation | 19.0 | 0.0 | 18.0 | ||
| Buybacks | 0.0 | 0.0 | n/a | ||
| Diluted shares, weighted | n/a | 0 | 110m | ||
| Shares outstanding at period end | 59m | n/a | 129m |
Balance sheet
| $ million | FY2023 | FY2022 | FY2015 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Shareholders' equity | 2,457 | -482 | 4,303 | ||
| Non-controlling interest | 77.0 | n/a | n/a | ||
| Short-term borrowings | 6.0 | n/a | n/a | ||
| Debt | 2,820 | n/a | 4,811 | ||
| Other liabilities | 1,761 | n/a | 3,712 | ||
| Total liabilities and equity | 7,121 | n/a | 12,826 | ||
| Fixed assets | 3,839 | n/a | 8,587 | ||
| Goodwill | n/a | n/a | 0.0 | ||
| Intangible assets | 1.0 | n/a | 310 | ||
| Investments | n/a | n/a | 976 | ||
| Securities held for sale or to maturity | 579 | n/a | n/a | ||
| Cash and equivalents | 400 | 988 | 141 | -59.5% | |
| Receivables | 52.0 | n/a | 205 | ||
| Inventory | 375 | n/a | 508 | ||
| Other assets | 1,875 | n/a | 2,099 | ||
| Total assets | 7,121 | n/a | 12,826 |
10-K for the year ended 31 December 2023, filed 28 February 2025: the filing.