Essential Utilities Q4 2021 Earnings Report
Key Takeaways
Essential Utilities reported a strong fourth quarter with a revenue increase of 13.0% and net income of $116.5 million. The company's regulated water and natural gas segments contributed to the revenue growth, with customer growth and rates & surcharges being key factors. Essential invested over $1 billion in infrastructure improvements during 2021 and is committed to environmental, social, and governance initiatives.
Net income for the fourth quarter of 2021 was $116.5 million, compared to $102.7 million in the same quarter of 2020.
Earnings per share were $0.44 for the quarter, an increase of 10.0% compared to $0.40 in the fourth quarter of 2020.
Revenues increased to $535.7 million in the fourth quarter compared to $474.0 million in the same period of 2020, an increase of 13.0%.
Essential invested over $1.0 billion in 2021 to improve its regulated water and natural gas infrastructure systems.
Essential Utilities
Essential Utilities
Forward Guidance
Essential Utilities published guidance for 2022 and continues to monitor the effects of the COVID-19 pandemic on its customers, employees and the business and will update guidance impacts from the pandemic in the future if needed.