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Mar 31, 2024
York Water Q1 2024 Earnings Report
York Water's Q1 2024 earnings were announced, demonstrating increased operating revenues and net income compared to the same period last year.
Key Takeaways
York Water Company reported an increase in operating revenues and net income for the first quarter of 2024. Operating revenues increased by $2,227,000 and net income increased by $674,000 compared to the first quarter of 2023. Earnings per share also increased.
Operating revenues increased by $2,227,000 compared to Q1 2023.
Net income increased by $674,000 compared to Q1 2023.
Earnings per share increased by $0.04 compared to Q1 2023.
The company invested $8.5 million in capital projects during the quarter.
Forward Guidance
The Company estimates it will invest an additional $33.7 million in 2024, excluding acquisitions, for completion of armoring and replacing the spillway of the Lake Williams dam, additional main extensions, wastewater treatment plant construction, 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
- Completion of armoring and replacing the spillway of the Lake Williams dam.
- Additional main extensions.
- Wastewater treatment plant construction.
- Routine improvements to its pipes.
- Service lines and other facilities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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