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Sep 30, 2020
Essential Utilities Q3 2020 Earnings Report
Reported financial results for Q3 2020, with GAAP earnings of $0.22 per share and adjusted non-GAAP earnings of $0.23 per share.
Key Takeaways
Essential Utilities reported a net income of $55.7 million, or $0.22 per share, for Q3 2020. Revenues for the quarter were $348.6 million, a 43.1% increase compared to Q3 2019. The company refined its 2020 annual adjusted earnings guidance to the top end of the $1.53 to $1.58 range.
Essential reported GAAP earnings of $0.22 per share and adjusted earnings per share of $0.23.
Revenues increased by 43.1% to $348.6 million compared to the third quarter of 2019.
The company refined its 2020 annual adjusted earnings per share guidance to the top end of the $1.53 to $1.58 range.
Essential invested $554.1 million in the first nine months of the year to improve its regulated water and natural gas infrastructure systems.
Revenue by Segment
Forward Guidance
Essential Utilities updated its 2020 full-year guidance and expects adjusted income per diluted common share at the top end of the $1.53 to $1.58 range.
Positive Outlook
- Expects adjusted income per diluted common share (non-GAAP) at the top end of the $1.53 to $1.58 range
- Earnings growth CAGR of 5 to 7 percent for 2019 through 2022
- Regulated water segment infrastructure investments of approximately $550 million in 2020
- Regulated natural gas segment infrastructure investments of approximately $400 million in 2020 on full-year basis
- Infrastructure investments of approximately $2.8 billion through 2022 in existing operations
Challenges Ahead
- Guidance is subject to risks and uncertainties including disruptions in the global economy
- Financial and workforce impacts from the COVID-19 pandemic
- The continuation of the company’s growth-through-acquisition program
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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