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Dec 31, 2020
York Water Q4 2020 Earnings Report
York Water's Q4 2020 results were announced, showcasing increased operating revenues and net income compared to Q4 2019.
Key Takeaways
York Water Company reported an increase in operating revenues and net income for the fourth quarter of 2020, with earnings per share also increasing. The growth was primarily driven by higher residential consumption and customer base expansion, offset by increased operation and maintenance expenses and depreciation.
Operating revenues for Q4 2020 increased by $379,000 compared to Q4 2019.
Net income for Q4 2020 increased by $321,000 compared to Q4 2019.
Basic and Diluted Earnings per share for Q4 2020 increased to $0.28, up $0.02 from the same period last year.
Increased revenues were mainly due to higher per capita residential consumption and customer base growth, while income taxes decreased due to higher deductions.
Forward Guidance
York Water plans to invest approximately $36 million in 2021 and $40 million in 2022, excluding acquisitions, for additional main extensions, dam improvements, an elevated water tank, an upgrade to the enterprise software system, completion of a wastewater treatment plant, and improvements to its pipes, service lines, and other facilities.
Positive Outlook
- Additional main extensions
- Dam improvements
- An elevated water tank
- An upgrade to the enterprise software system
- Completion of a wastewater treatment plant
Historical Earnings Impact
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Avg. Return Before/After Earnings
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