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Dec 31, 2022
York Water Q4 2022 Earnings Report
York Water's Q4 2022 earnings increased compared to the same period last year.
Key Takeaways
York Water reported increased operating revenues and net income for the fourth quarter of 2022, driven by customer base growth and the utilization of the Distribution System Improvement Charge (DSIC).
Operating revenues increased by $1,377,000 compared to Q4 2021.
Net income increased by $1,010,000 compared to Q4 2021.
Basic and Diluted Earnings per share increased to $0.35, up $0.04 from the same period last year.
Revenue growth was primarily due to customer base growth from acquisitions and the Distribution System Improvement Charge (DSIC).
York Water
York Water
Forward Guidance
York Water plans to invest approximately $60.6 million in 2023 and $47.1 million in 2024, excluding acquisitions, for additional main extensions, armoring and replacing the spillway of the Lake Williams dam, wastewater treatment plant construction, water treatment plant upgrades, and improvements to its pipes, service lines, and other facilities.
Positive Outlook
- Investing in main extensions.
- Armoring and replacing the spillway of the Lake Williams dam.
- Wastewater treatment plant construction.
- Water treatment plant upgrades.
- Improvements to its pipes, service lines, and other facilities.