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Mar 31, 2020
York Water Q1 2020 Earnings Report
The York Water Company's financial results for Q1 2020 were announced.
Key Takeaways
The York Water Company reported an increase in operating revenues and net income for the first quarter of 2020 compared to the same period in 2019. Operating revenues increased by $1,046,000, and net income increased by $1,189,000.
Operating revenues increased due to rate increases and customer base growth.
Net income increased due to higher revenues and a non-recurring gain on life insurance.
Earnings per share increased by $0.09 compared to the first quarter of 2019.
The company invested $3.9 million in construction expenditures during the quarter.
York Water
York Water
Forward Guidance
The Company estimates it will invest an additional $20.3 million in 2020, excluding acquisitions, for additional main extensions, improvements to a raw water pumping station, expansion of a wastewater treatment plant, and routine improvements to its pipes, service lines, and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.