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York Water Q1 2025 Earnings Report
The York Water Company reported its financial results for the first quarter of 2025, with increased operating revenues but decreased net income and earnings per share compared to the first quarter of 2024.
Key Takeaways
The York Water Company's operating revenues increased by $828,000 to $18,456,000 in the first quarter of 2025, primarily due to customer base growth and Distribution System Improvement Charge (DSIC) revenues. However, net income decreased by $689,000 to $3,638,000, and basic and diluted earnings per share fell by $0.05 to $0.25, mainly due to lower allowance for funds used during construction (AFUDC), and higher operation and maintenance expenses, depreciation, and interest on debt, despite lower pension costs.
Operating revenues for Q1 2025 increased to $18,456,000, up $828,000 from Q1 2024.
Net income for Q1 2025 decreased to $3,638,000, down $689,000 from Q1 2024.
Basic and diluted earnings per common share for Q1 2025 were $0.25, a decrease of $0.05 from Q1 2024.
The Company invested $9.3 million in capital projects during Q1 2025 and plans to invest an additional $36.7 million in 2025 for infrastructure improvements.
York Water
York Water
Forward Guidance
The Company estimates it will invest an additional $36.7 million in 2025, excluding acquisitions, for capital projects including main extensions, wastewater treatment plant construction, enterprise software upgrades, and routine improvements to ensure a safe, adequate, and reliable supply of drinking water and proper wastewater handling.
Positive Outlook
- Continued investment in main extensions to support growth.
- Ongoing upgrade to the enterprise software system for improved operations.
- Planned wastewater treatment plant construction to enhance infrastructure.
- Routine improvements to pipes, service lines, and other facilities to maintain reliability.
- Commitment to ensuring a safe, adequate, and reliable supply of drinking water.
Challenges Ahead
- Future results may materially differ from expectations due to risks and uncertainties.
- The Company undertakes no duty to update forward-looking statements.
- Excluding acquisitions from the additional capital investment plan.
- Potential for unforeseen events to impact operational and financial expectations.
- Reliance on current available information for forward-looking statements.