8-K
filed February 27, 2023, 6:59 PM ET
ticker WTRG
CIK 0000078128
earnings
confidence high
sentiment positive
materiality 0.75
Essential Utilities reports record 2022 EPS $1.77, revenue $2.29B; guides 2023 EPS $1.85-$1.90
Essential Utilities, Inc.
2022-FY EPS reported
$1.77
revenue$2,288,032,000
- Full-year net income $465.2M ($1.77 EPS) vs $431.6M ($1.67 EPS) in 2021; revenue $2.29B (+21.8%).
- Record infrastructure investments of $1.06B in 2022; expects ~$1.1B annually through 2025.
- Closed three water/wastewater acquisitions adding $120M rate base and 23,000 customers; signed agreements for nine more systems (~219,000 customers, $380M purchase price).
- Board declared quarterly dividend $0.2870 per share, payable June 1, 2023; consecutive quarterly dividend for over 78 years.
- 2023 EPS guidance $1.85-$1.90; long-term EPS CAGR 5-7% through 2025; rate base growth 6-10% across segments.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Essential Utilities, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $705.4 million, net income $114.9 million, EPS $0.44.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $705.4 million
- Net income
- $114.9 million
- EPS
- $0.44
- Result
- reported results
Exact text from the filing
regulated natural gas segment volume, and increased regulated water segment volume and customer growth were offset by increased expenses and other items. Revenues increased to $705.4 million in the fourth quarter compared to $535.7 million in the same period of 2021, an increase of 31.7%. Recovery of higher purchased gas costs, and additional revenues from rates and
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Essential Utilities, Inc. reported the year ended December 31, 2022 results: revenue $2.29 billion, net income $465.2 million, EPS $1.77 per share.
- Period
- the year ended December 31, 2022
- Revenue
- $2.29 billion
- Net income
- $465.2 million
- EPS
- $1.77 per share
- Result
- reported results
Exact text from the filing
Essential reported total operating revenues of $2.29 billion in 2022, an increase of 21.8% compared to $1.88 billion in the prior year.
View on SEC.gov
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