Essential Utilities (WTRG) FY2013 results: revenue $762 million, up 1.5% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $762 million for fiscal 2013, the year ended 31 December 2013, up 1.5% on the year before. Net income was $221 million, up 12.6%, and diluted earnings per share $1.25. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$762 million
+1.5% on the year
FY2007FY2013
Operating margin
39.6%
42.3% a year earlier
FY2007FY2013
Net income
$221 million
+12.6% on the year
FY2007FY2013
Diluted EPS
$1.25
+11.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
762
751
687
+1.5%
Operating income
302
318
281
-5.0%
Operating margin
39.6%
42.3%
40.9%
Interest expense
77.3
77.8
77.8
-0.6%
Pre-tax income
224
247
216
-9.3%
Income tax
21.2
65.2
69.1
-67.4%
Effective tax rate
9.5%
26.4%
32.0%
Net income
221
197
143
+12.6%
Net margin
29.0%
26.2%
20.8%
Diluted EPS
$1.25
$1.12
$0.82
+11.6%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
368
368
367
-0.2%
Capital expenditure
308
347
326
-11.2%
Free cash flow
59.6
21.3
41.0
+179.9%
Free cash flow margin
7.8%
2.8%
6.0%
Cash from investing
-222
-365
-285
Cash from financing
-147
-6.4
-79.7
Depreciation and amortisation
124
116
108
+6.7%
Share-based compensation
5.1
5.5
3.9
-8.7%
Buybacks
12.8
1.5
1.2
+775.9%
Dividends paid
103
93.4
87.1
+10.1%
Dividend per share
$0.58
$0.54
$0.50
+9.0%
Diluted shares, weighted
177m
175m
173m
+1.1%
Shares outstanding at period end
177m
175m
174m
+0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,535
1,386
1,251
+10.8%
Non-controlling interest
0.2
0.2
0.5
+10.6%
Debt
1,592
1,669
1,584
-4.7%
Other liabilities
1,901
1,779
1,513
+6.9%
Total liabilities and equity
5,027
4,834
4,348
+4.0%
Fixed assets
4,139
3,908
3,503
+5.9%
Goodwill
28.2
28.2
26.9
+0.3%
Cash and equivalents
5.1
5.5
8.2
-8.4%
Receivables
94.7
92.9
75.5
+1.9%
Inventory
11.4
11.8
11.0
-3.4%
Other assets
750
788
724
-4.9%
Total assets
5,027
4,834
4,348
+4.0%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.