Essential Utilities (WTRG) FY2017 results: revenue $810 million, down 1.3% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $810 million for fiscal 2017, the year ended 31 December 2017, down 1.3% on the year before. Net income was $240 million, up 2.4%, and diluted earnings per share $1.35. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$810 million
-1.3% on the year
FY2010FY2017
Operating margin
41.2%
40.7% a year earlier
FY2010FY2017
Net income
$240 million
+2.4% on the year
FY2010FY2017
Diluted EPS
$1.35
+2.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
810
820
814
-1.3%
Operating income
334
333
321
+0.2%
Operating margin
41.2%
40.7%
39.4%
Interest expense
88.5
80.6
76.5
+9.9%
Pre-tax income
257
255
217
+0.6%
Income tax
16.9
21.0
15.0
-19.4%
Effective tax rate
6.6%
8.2%
6.9%
Net income
240
234
202
+2.4%
Net margin
29.6%
28.6%
24.8%
Diluted EPS
$1.35
$1.32
$1.14
+2.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
381
396
371
-3.7%
Capital expenditure
478
383
365
+24.8%
Free cash flow
-96.8
12.8
6.1
Free cash flow margin
-12.0%
1.6%
0.7%
Cash from investing
-480
-383
-394
Cash from financing
99.5
-12.4
22.4
Depreciation and amortisation
137
133
129
+2.8%
Share-based compensation
6.3
5.4
5.9
+17.7%
Buybacks
2.2
3.0
25.2
-28.4%
Dividends paid
141
131
121
+7.4%
Dividend per share
$0.79
$0.74
$0.69
+7.2%
Diluted shares, weighted
178m
178m
178m
+0.2%
Shares outstanding at period end
178m
177m
177m
+0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,958
1,850
1,726
+5.8%
Debt
2,125
1,895
1,773
+12.2%
Other liabilities
2,250
2,414
2,219
-6.8%
Total liabilities and equity
6,332
6,159
5,718
+2.8%
Fixed assets
5,400
5,002
4,689
+8.0%
Goodwill
42.2
42.2
33.9
+0.1%
Cash and equivalents
4.2
3.8
3.2
+11.7%
Receivables
98.6
97.4
99.1
+1.2%
Inventory
14.4
13.0
12.4
+10.8%
Other assets
773
1,001
880
-22.8%
Total assets
6,332
6,159
5,718
+2.8%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.