EMA FY 2019 Earnings Report — Emera Incorporated Revenue & Financial Results | Market Cap Arena

Emera IncorporatedEMA

FY 2019 Earnings

Reported December 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$4.5B	—	$4.8B	—	-6.3%
Op. Income	$981M	—	$1.0B	—	-3.9%
Gross Margin	42.9%	—	40.7%	—	2.2pp
Net Margin	11.6%	—	11.4%	—	0.2pp
EPS (Diluted)	$2.02	—	$2.33	—	-13.5%
Free Cash Flow	-$709M	—	-$345M	—	-105.5%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1M
Other Expenses	$933M
Operating Expenses	$935M
Cost & Expenses	$3.5B
OPERATING INCOME	$981M
Interest Income	$0
Interest Expense	$539M
Other Income/Expenses	-$418M
INCOME BEFORE TAX	$563M
Income Tax Expense	$45M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$517M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$484M
D&A	$666M
EBIT	$1.0B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1M
Other Expenses	$933M
Operating Expenses	$935M
Cost & Expenses	$3.5B
OPERATING INCOME	$981M
Interest Income	$0
Interest Expense	$539M
Other Income/Expenses	-$418M
INCOME BEFORE TAX	$563M
Income Tax Expense	$45M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$517M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$484M
D&A	$666M
EBIT	$1.0B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$519M
Depreciation & Amortization	$666M
Stock-Based Compensation	$0
Deferred Income Tax	$91M
Other Non-Cash Items	-$108M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$1.8B
Acquisitions (Net)	$639M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$189M
Common Stock Repurchased	$0
Common Dividends Paid	-$276M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	$10M
FREE CASH FLOW	-$709M
Net Change in Cash	-$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$154M
Short-Term Investments	$0
Net Receivables	$653M
Inventory	$263M
Other Current Assets	$304M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$10.3B
Goodwill	$3.3B
Intangible Assets	$0
Long-Term Investments	$1.0B
Tax Assets	$105M
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$16.5B
TOTAL ASSETS	$17.9B
Account Payables	$630M
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$553M
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$7.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$724M
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$10.7B
TOTAL LIABILITIES	$13.1B
Common Stock	$3.5B
Additional Paid-In Capital	$44M
Retained Earnings	$661M
Treasury Stock	$0
Accum. Other Comp. Income	$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$20M
TOTAL EQUITY	$4.8B
TOTAL LIABILITIES & EQUITY	$17.9B
Total Debt	$8.9B
Net Debt	$8.7B