Essential Utilities backs FY24 EPS view $1.96-$2.00, consensus $2.05

In February, and re-affirmed in August, Essential provided guidance for 2024 net income per diluted common share to be $1.96 to $2.00. On a GAAP basis, the expectation is to exceed this 2024 guidance as a result of the gain on sale of the energy plant assets, despite the impact of warmer-than-normal weather that resulted in lower regulated natural gas operating revenues year-to-date. In 2024, regulated infrastructure investments will be approximately $1.3 to $1.4 billion.