The York Water ( (YORW) ) has released its Q4 earnings. Here is a breakdown of the information The York Water presented to its investors.
The York Water Company, a longstanding utility firm, specializes in providing water and wastewater services, primarily operating within the public utility sector in Pennsylvania.
In its latest earnings report, The York Water Company revealed a mixed financial performance for 2024. While the company experienced an increase in operating revenues, it faced a decline in net income compared to the previous year.
The company reported a 2024 operating revenue of $74.959 million, marking an increase of $3.928 million from 2023. This growth was attributed to rate increases, customer base expansion, and the Distribution System Improvement Charge. However, net income fell by $3.432 million to $20.325 million, with earnings per share decreasing by $0.24 to $1.42. Despite these challenges, the company increased its dividends per share by 4%.
Significant investments were made in infrastructure, with $48.2 million allocated to projects such as dam spillway armoring, wastewater treatment plant construction, and pipe replacements. The company also expanded its operations through the acquisition of four water and two wastewater systems.
Looking ahead, The York Water Company plans to invest approximately $46 million in 2025 and $48.5 million in 2026 to enhance its infrastructure and service capabilities, aiming to ensure a reliable supply of drinking water and proper wastewater management for its growing customer base.