Essential Utilities (WTRG) FY2019 results: revenue $890 million, up 6.2% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $890 million for fiscal 2019, the year ended 31 December 2019, up 6.2% on the year before. Net income was $225 million, up 17.0%, and diluted earnings per share $1.04. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$890 million
+6.2% on the year
FY2012FY2019
Operating margin
38.2%
38.6% a year earlier
FY2012FY2019
Net income
$225 million
+17.0% on the year
FY2012FY2019
Diluted EPS
$1.04
-3.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
890
838
810
+6.2%
Operating income
340
323
334
+5.3%
Operating margin
38.2%
38.6%
41.2%
Interest expense
125
98.9
88.5
+26.8%
Pre-tax income
212
178
257
+18.6%
Income tax
-13.0
-13.7
16.9
Effective tax rate
-6.2%
-7.7%
6.6%
Net income
225
192
240
+17.0%
Net margin
25.2%
22.9%
29.6%
Diluted EPS
$1.04
$1.08
$1.35
-3.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
339
369
381
-8.1%
Capital expenditure
n/a
496
478
Free cash flow
n/a
-127
-96.8
Free cash flow margin
n/a
-15.2%
-12.0%
Cash from investing
-605
-640
-480
Cash from financing
2,131
271
99.5
+687.3%
Depreciation and amortisation
156
147
137
+6.7%
Share-based compensation
7.4
7.6
6.3
-2.6%
Buybacks
1.9
2.6
2.2
-26.9%
Dividends paid
189
151
141
+25.1%
Dividend per share
$0.91
$0.85
$0.79
+7.0%
Diluted shares, weighted
216m
178m
178m
+21.0%
Shares outstanding at period end
n/a
n/a
178m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,881
2,009
1,958
+93.1%
Debt
3,074
2,558
2,125
+20.2%
Operating lease liabilities
11.6
n/a
n/a
Other liabilities
2,395
2,397
2,250
-0.1%
Total liabilities and equity
9,362
6,964
6,332
+34.4%
Fixed assets
6,346
5,930
5,400
+7.0%
Goodwill
63.8
52.7
42.2
+21.0%
Cash and equivalents
1,869
3.6
4.2
+51,428.0%
Receivables
67.1
65.8
98.6
+2.0%
Inventory
18.4
15.8
14.4
+16.0%
Other assets
998
896
773
+11.4%
Total assets
9,362
6,964
6,332
+34.4%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.