Essential Utilities (WTRG) FY2018 results: revenue $838 million, up 3.5% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $838 million for fiscal 2018, the year ended 31 December 2018, up 3.5% on the year before. Net income was $192 million, down 19.9%, and diluted earnings per share $1.08. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$838 million
+3.5% on the year
FY2011FY2018
Operating margin
38.6%
41.2% a year earlier
FY2011FY2018
Net income
$192 million
-19.9% on the year
FY2011FY2018
Diluted EPS
$1.08
-20.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
838
810
820
+3.5%
Operating income
323
334
333
-3.2%
Operating margin
38.6%
41.2%
40.7%
Interest expense
98.9
88.5
80.6
+11.7%
Pre-tax income
178
257
255
-30.5%
Income tax
-13.7
16.9
21.0
Effective tax rate
-7.7%
6.6%
8.2%
Net income
192
240
234
-19.9%
Net margin
22.9%
29.6%
28.6%
Diluted EPS
$1.08
$1.35
$1.32
-20.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
369
381
396
-3.4%
Capital expenditure
496
478
383
+3.7%
Free cash flow
-127
-96.8
12.8
Free cash flow margin
-15.2%
-12.0%
1.6%
Cash from investing
-640
-480
-383
Cash from financing
271
99.5
-12.4
+172.1%
Depreciation and amortisation
147
137
133
+7.3%
Share-based compensation
7.6
6.3
5.4
+19.3%
Buybacks
2.6
2.2
3.0
+17.9%
Dividends paid
151
141
131
+7.2%
Dividend per share
$0.85
$0.79
$0.74
+7.0%
Diluted shares, weighted
178m
178m
178m
+0.1%
Shares outstanding at period end
n/a
178m
177m
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,009
1,958
1,850
+2.6%
Debt
2,558
2,125
1,895
+20.4%
Other liabilities
2,397
2,250
2,414
+6.5%
Total liabilities and equity
6,964
6,332
6,159
+10.0%
Fixed assets
5,930
5,400
5,002
+9.8%
Goodwill
52.7
42.2
42.2
+24.9%
Cash and equivalents
3.6
4.2
3.8
-13.7%
Receivables
65.8
98.6
97.4
-33.2%
Inventory
15.8
14.4
13.0
+10.3%
Other assets
896
773
1,001
+15.9%
Total assets
6,964
6,332
6,159
+10.0%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.