York Water Q3 2021 Earnings Report
Key Takeaways
York Water Company reported a slight increase in operating revenues and net income for Q3 2021 compared to Q3 2020. Operating revenues increased by $246,000 to $14,503,000, and net income increased by $90,000 to $4,794,000. Earnings per share remained the same at $0.36.
Operating revenues increased due to the Distribution System Improvement Charge (DSIC) and customer base growth.
Net income saw a slight increase compared to the same quarter last year.
Earnings per share remained unchanged at $0.36.
Increased revenue was partially offset by higher operation and maintenance expenses and depreciation.
York Water
York Water
Forward Guidance
The Company estimates it will invest an additional $7.6 million in 2021, excluding acquisitions, for additional main extensions, an elevated water tank, 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.