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Sep 30, 2024
York Water Q3 2024 Earnings Report
York Water's Q3 2024 earnings decreased compared to the same period last year.
Key Takeaways
York Water reported a revenue increase of $948,000, primarily due to revenues from the Distribution System Improvement Charge (DSIC) and customer base growth, but net income decreased by $1,705,000 compared to Q3 2023. Earnings per share decreased by $0.12.
Operating revenues increased due to Distribution System Improvement Charge (DSIC) revenues and customer base growth.
Net income decreased due to higher operation and maintenance expenses, depreciation, and a lower allowance for funds used during construction (AFUDC).
Earnings per share decreased by $0.12 compared to the same period last year.
The company invested $33 million in capital projects during the first nine months of the year.