Essential Utilities reports Q3 EPS 25c, consensus 24c

Reports Q3 revenue $435.3M, consensus $416.91M. “After temporarily suspending long-term guidance on earnings per share (EPS) in early 2024, the company is now prepared to reinitiate long-term EPS guidance. The guidance we are issuing today reflects the confidence of the board and management in executing our long-term operational and financial goals. We will continue to grow our water and wastewater customer base by offering solutions to the private and municipal markets. We will also continue to make significant improvements in our natural gas and water infrastructure by planning to invest nearly $8 billion over the next five years,” said Essential Utilities (WTRG) Chairman and Chief Executive Officer Chris Franklin. “We are also pleased with the recent Pennsylvania Public Utility Commission (PUC) order for the Peoples Natural Gas rate case and the Aqua Pennsylvania rate case settlement which will be filed at the PUC for review and approval. These were two prominent initiatives for the company in 2024, which allow us to reinstate multi-year earnings guidance with a compounded annual EPS growth rate of 5-7% through 2027.”