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Mar 31, 2021
York Water Q1 2021 Earnings Report
The York Water Company's financial results for the first quarter of 2021 were announced with increased operating revenues but decreased net income compared to the same period last year.
Key Takeaways
The York Water Company reported an increase in operating revenues but a decrease in net income for the first quarter of 2021. Operating revenues increased due to customer base growth and higher billing and revenue collection services, while net income decreased primarily due to a non-recurring gain on life insurance in the first quarter of 2020.
Operating revenues increased by $204,000 compared to the first quarter of 2020.
Net income decreased by $297,000 compared to the first quarter of 2020, mainly due to a non-recurring gain on life insurance last year.
Earnings per share decreased by $0.03 compared to the same period last year.
The company invested $7.4 million in construction expenditures during the quarter.
Forward Guidance
The Company estimates it will invest an additional $26.1 million in 2021, excluding acquisitions, for additional main extensions, an elevated water tank, an upgrade to the enterprise software system, completion 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.
Positive Outlook
- Additional main extensions
- Elevated water tank construction
- Upgrade to the enterprise software system
- Completion of a wastewater treatment plant
- Routine improvements to pipes and service lines
Historical Earnings Impact
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Avg. Return Before/After Earnings
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