York Water Q4 2023 Earnings Report
Key Takeaways
York Water Company reported increased operating revenues and net income for Q4 2023 compared to Q4 2022. Basic and Diluted Earnings per share also increased. The increase in revenues was primarily due to an increase in rates effective March 1, 2023, partially offset by a reset to zero of the Distribution System Improvement Charge (DSIC).
Operating revenues increased by $2,985,000 compared to Q4 2022.
Net income increased by $1,001,000 compared to Q4 2022.
Basic and Diluted Earnings per share increased to $0.42, up $0.07 from the same period last year.
Increased revenues were primarily due to rate increases effective March 1, 2023, offset by a reset of the Distribution System Improvement Charge (DSIC).
York Water
York Water
Forward Guidance
York Water plans to invest approximately $42.2 million in 2024 and $46.1 million in 2025, excluding acquisitions, for additional main extensions, completion of armoring and replacing the spillway of the Lake Williams dam, wastewater treatment plant construction, an upgrade to the enterprise software system, and improvements to its pipes, service lines, and other facilities.
Positive Outlook
- Investments in main extensions to support growth.
- Completion of armoring and replacing the spillway of the Lake Williams dam.
- Construction of a wastewater treatment plant.
- Upgrade to the enterprise software system.
- Improvements to pipes, service lines, and other facilities.