Essential Utilities, Inc. ( (WTRG) ) has released its Q3 earnings. Here is a breakdown of the information Essential Utilities, Inc. presented to its investors.
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Essential Utilities, Inc. is a leading provider of water, wastewater, and natural gas services in the United States, committed to sustainable growth and operational excellence across its operations. The company recently reported its financial results for the third quarter of 2024, with earnings per share of $0.25 and a net income of $69.4 million, reflecting a decrease compared to the same period last year. However, the company has reinstated its multi-year earnings guidance, projecting a compounded annual EPS growth rate of 5-7% through 2027. Key highlights from the report include the Pennsylvania Public Utility Commission’s approval of the Peoples Natural Gas rate case and a settlement for the Aqua Pennsylvania rate case, which are expected to enhance revenue stability. Additionally, Essential Utilities plans to invest nearly $8 billion over the next five years to improve its infrastructure and reduce emissions. Despite challenges such as lower natural gas volumes and increased expenses, the company is focused on expanding its customer base and improving operational efficiency. Looking ahead, Essential Utilities aims to continue its growth through strategic acquisitions and infrastructure investments, while reaffirming its commitment to environmental sustainability and regulatory compliance.
