CFC’s 2023 Key Ratio Trend Analysis Results Continue To Demonstrate Cooperatives’ Resiliency
27 Junho 2024 - 12:52PM
The National Rural Utilities Cooperative Finance Corporation (CFC)
has analyzed the final data from its 2023 Key Ratio Trend Analysis
(KRTA) report, an annual assessment of financial trends among
electric distribution cooperatives nationwide. The results show
that, despite a high interest rate environment, electric
cooperatives continued their consumer and utility plant growth and
have maintained strong financial metrics, including improved
margins. This underscores their sustained financial health and
operational efficiency.
“Rural electric cooperatives’ disciplined management has enabled
the network to be resilient in the face of elevated interest rates,
moderating supply chain disruptions, inflation and power costs,
while maintaining their focus on providing affordable, reliable and
sustainable power in their local communities,” CFC Senior Vice
President and Chief Corporate Affairs Officer Brad Captain
said.
After peaking at 1% in 2022, consumer growth tapered to 0.89%
last year, with approximately 88% of cooperatives showing
increases, including notable pockets of greater than 2% consumer
growth in Florida, Idaho and Utah.
Utility plant growth continued its blistering pace, which
exceeded 5% for the first time since 2008.
“Despite increasing costs, electric cooperatives continue to
make investments in plant and utility infrastructure to maintain
their focus on improving the quality of life in the communities
they serve,” CFC Senior Vice President and Chief Banking Officer
Joel Allen said.
2023 KRTA ratios also showed that inflationary pressures have
been abating, especially with power costs. Although costs increased
over 2022 levels, cooperatives were able to manage them, as
demonstrated by a decrease in power costs as a percent of revenue.
This is significant because, unlike in 2022, cooperatives were able
to generate higher margins in 2023, which produced healthy coverage
ratios.
In another positive sign, both accounts receivable over 60 days
and write-offs continued at their pre-pandemic lows. Accounts
receivable remained at 0.08% of operating revenue, and write-offs
remained at 0.06% of operating revenue.
Final KRTA results are based on data submitted by 812 electric
distribution cooperatives for the year ending Dec. 31, 2023. CFC
calculates 145 financial and operational ratios for each
cooperative and provides a report showing the cooperative’s ratios
compared with U.S., state and other key consumer group median
values. Median reporting minimizes the effect of outliers and
provides a clearer picture of cooperative performance.
About CFC
Created and owned by America’s electric cooperative network, the
National Rural Utilities Cooperative Finance Corporation (CFC)—a
nonprofit finance cooperative with $36 billion in assets—provides
unparalleled industry expertise, flexibility and responsiveness to
serve the needs of our member-owners. CFC is an equal opportunity
provider. Visit us online at www.nrucfc.coop.
About KRTA
CFC has published KRTA—an annual report that tracks the median
value of 145 financial and operational ratios for participating
electric distribution cooperatives over the previous five
years—since 1975. Based on data reported by electric distribution
cooperatives, KRTA provides electric cooperative CEOs and
directors/trustees with a complete picture of their system’s
financial performance.
Contact: Brad Captain, Corporate Relations Group,
800-424-2954
National Rural Utilities... (NYSE:NRUC)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
National Rural Utilities... (NYSE:NRUC)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024