Essential Utilities Q2 record net income $91.3M; EPS $0.34, dividend raised 7%

Essential Utilities, Inc.

2023-Q2 EPS reported $1.07 revenue$1,163,150,000

Net income $91.3M vs $82.3M YoY; EPS $0.34 vs $0.31; revenue $436.7M (down from $448.8M).
Regulated water revenue increased 9.0% to $293.7M; natural gas revenue decreased to $139.0M from $167.7M due to lower purchased gas costs.
Quarterly dividend raised 7% to $0.3071/share; payable Sep 1, record Aug 11; 33rd increase in 32 years.
Acquired 7 water/wastewater systems in 2023; $44.5M rate base, 11K customers; adds pending DELCORA ($276.5M) and other agreements.
Reaffirmed FY2023 EPS guidance $1.85-$1.90; long-term EPS CAGR 5-7% through 2025; $1.1B annual capex.

item 2.02 item 9.01

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 second quarter ended June 30, 2023 results: revenue $436.7 million, net income $91.3 million, EPS $0.34. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $436.7 million
Net income: $91.3 million
EPS: $0.34
Guidance: reaffirmed
Result: reported results

Exact text from the filing

volume from the regulated water segment were offset by other items, decreased regulated natural gas segment volume, and lower expenses. Revenues for the quarter were $436.7 million compared to $448.8 million in the second quarter of 2022. Lower purchased gas costs and decreased volume from the regulated natural gas segment contributed to the decrease in

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Essential Utilities, Inc. reported the six months ended June 30, 2023 results: revenue $1,163.2 million, net income $282.7 million, EPS $1.07. Guidance reaffirmed.

Period: the six months ended June 30, 2023
Revenue: $1,163.2 million
Net income: $282.7 million
EPS: $1.07
Guidance: reaffirmed
Result: reported results

Exact text from the filing

million, or $1.07 per share compared to $281.7 million or $1.07 per share through the same period of 2022. For the first six months of 2023, the company reported revenues of $1,163.2 million, an increase of 1.3%, compared to $1,148.0 million in the first half of 2022. Operations and maintenance expenses were down 2.2% for the first half of 2023 to $271.5 million

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Essential Utilities, Inc. filing history →

Source: SEC EDGAR

accession 0001552781-23-000342

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