York Water Q4 2019 Earnings Report
Key Takeaways
York Water reported an increase in operating revenues but a decrease in net income for the fourth quarter of 2019 compared to the fourth quarter of 2018. Increased revenues resulted from rate increases and customer base growth, offset by lower DSIC. Higher operation and maintenance expenses, depreciation, and retirement expenses also impacted the results.
Operating revenues increased by $950,000 compared to Q4 2018.
Net income decreased by $288,000 compared to Q4 2018.
Basic and Diluted Earnings per share decreased to $0.26 from $0.29 in Q4 2018.
Revenue growth was driven by rate increases and a growing customer base, partially offset by lower DSIC.
York Water
York Water
Forward Guidance
York Water plans to invest approximately $29.5 million in 2020 and $27.0 million in 2021, excluding acquisitions, for spillway improvements and the armoring of one of the dams, improvements to an untreated water pumping station, expansion of a wastewater treatment plant, system expansion, and improvements to its pipes, service lines, and other facilities.
Positive Outlook
- Spillway improvements
- Armoring of one of the dams
- Improvements to an untreated water pumping station
- Expansion of a wastewater treatment plant
- System Expansion