Essential Utilities (WTRG) FY2014 results: revenue $780 million, up 2.4% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $780 million for fiscal 2014, the year ended 31 December 2014, up 2.4% on the year before. Net income was $233 million, up 5.4%, and diluted earnings per share $1.31. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$780 million
+2.4% on the year
FY2007FY2014
Operating margin
40.3%
39.6% a year earlier
FY2007FY2014
Net income
$233 million
+5.4% on the year
FY2007FY2014
Diluted EPS
$1.31
+4.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
780
762
751
+2.4%
Operating income
314
302
318
+4.2%
Operating margin
40.3%
39.6%
42.3%
Interest expense
76.4
77.3
77.8
-1.2%
Pre-tax income
239
224
247
+6.7%
Income tax
25.2
21.2
65.2
+18.8%
Effective tax rate
10.5%
9.5%
26.4%
Net income
233
221
197
+5.4%
Net margin
29.9%
29.0%
26.2%
Diluted EPS
$1.31
$1.25
$1.12
+4.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
364
368
368
-1.1%
Capital expenditure
329
308
347
+6.6%
Free cash flow
35.2
59.6
21.3
-41.0%
Free cash flow margin
4.5%
7.8%
2.8%
Cash from investing
-293
-222
-365
Cash from financing
-72.2
-147
-6.4
Depreciation and amortisation
127
124
116
+2.1%
Share-based compensation
6.8
5.1
5.5
+34.6%
Buybacks
15.8
12.8
1.5
+22.9%
Dividends paid
112
103
93.4
+9.0%
Dividend per share
$0.63
$0.58
$0.54
+8.6%
Diluted shares, weighted
178m
177m
175m
+0.5%
Shares outstanding at period end
177m
177m
175m
+0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,655
1,535
1,386
+7.9%
Non-controlling interest
0.0
0.2
0.2
-80.8%
Debt
1,638
1,592
1,669
+2.9%
Other liabilities
2,090
1,901
1,779
+10.0%
Total liabilities and equity
5,383
5,027
4,834
+7.1%
Fixed assets
4,402
4,139
3,908
+6.4%
Goodwill
31.2
28.2
28.2
+10.5%
Cash and equivalents
4.1
5.1
5.5
-18.2%
Receivables
97.0
94.7
92.9
+2.4%
Inventory
12.8
11.4
11.8
+12.6%
Other assets
836
750
788
+11.6%
Total assets
5,383
5,027
4,834
+7.1%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.