Company profile

Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Puget Sound Power & Light Co
SEC CIK

Calendar

15 May 20
12 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 1.05B 988.35M 627.01M 670.93M
Net income 94.94M 150.95M -39.44M -32.95M
Net profit margin 9.07% 15.27% -6.29% -4.91%
Operating income 172.38M 240.31M 26.13M 39.12M
Net change in cash -34.65M 32.79M 4.44M -12.79M
Cash on hand 10.61M 45.26M 12.47M 8.03M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 3.4B 3.35B 3.46B 3.16B
Net income 210.71M 235.62M 175.19M 312.9M
Net profit margin 6.20% 7.04% 5.06% 9.89%
Operating income 519.01M 554.06M 739.11M 765.47M
Net change in cash 7.74M 10.91M -2.26M -13.62M
Cash on hand 45.26M 37.52M 26.62M 28.88M

Financial data from company earnings reports

Financial report summary

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Management Discussion
  • ITEM 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Puget Energy is an energy services holding company and substantially all of its operations are conducted through its subsidiary PSE, a regulated electric and natural gas utility company. PSE is the largest electric and natural gas utility in the state of Washington, primarily engaged in the business of electric transmission, distribution and generation and natural gas distribution. Puget Energy's business strategy is to generate stable cash flows by offering reliable electric and natural gas service in a cost-effective manner through PSE. Puget Energy also has a wholly-owned non-regulated subsidiary, Puget LNG, LLC (Puget LNG), which has the sole purpose of owning, developing and financing the non-regulated activity of the Tacoma liquefied natural gas (LNG) facility, currently under construction. All of Puget Energy's common stock is indirectly owned by Puget Holdings, LLC (Puget Holdings). Puget Holdings is owned by a consortium of long-term infrastructure investors including the Canada Pension Plan Investment Board, the British Columbia Investment Management Corporation (BCI), the Alberta Investment Management Corporation (AIMCo), Ontario Municipal Employee Retirement System (OMERS) and PGGM Vermogensbeheer B.V. The sale of previous owners', Macquarie Infrastructure Partners and Macquarie Capital Group Limited, shares to OMERS, PGGM Vermogensbeheer B.V., AIMCo and BCI was approved by various federal and state agencies, including that of the Washington Utilities and Transportation Commission (Washington Commission), and closed on April 17, 2019. Puget Energy and PSE are collectively referred to herein as “the Company.”
  • PSE generates revenue and cash flow primarily from the sale of electric and natural gas services to residential and commercial customers within a service territory covering approximately 6,000 square miles, principally in the Puget Sound region of the state of Washington. PSE continually balances its load requirements, generation resources, purchase power agreements, and market purchases to meet customer demand. The Company's external financing requirements principally reflect the cash needs of its construction program, its schedule of maturing debt and certain operational needs. PSE requires access to bank and capital markets to meet its financing needs.
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