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Mar 31, 2022
York Water Q1 2022 Earnings Report
York Water's financial results for the first quarter of 2022 were announced.
Key Takeaways
York Water Company reported an increase in operating revenues and net income for the first quarter of 2022 compared to the same period in 2021. Operating revenues reached $14,240,000, and net income amounted to $3,859,000.
Operating revenues increased by $1,159,000 compared to Q1 2021.
Net income increased by $154,000 compared to Q1 2021.
Basic and diluted earnings per share increased by $0.01 to $0.29.
The company invested $7.5 million in capital projects during the quarter.
York Water
York Water
Forward Guidance
The Company estimates it will invest an additional $35.3 million in 2022, excluding acquisitions, for armoring and replacing the spillway of the Lake Williams dam, additional main extensions, 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
- Investing in armoring and replacing the spillway of the Lake Williams dam.
- Investing in additional main extensions.
- Investing in routine improvements to its pipes.
- Investing in routine improvements to its service lines.
- Investing in routine improvements to its other facilities.