Essential Utilities, Inc. reported a significant increase in financial performance for the first quarter of 2025, with operating revenues reaching $783.6 million, a 28% increase from $612.1 million in the same period of 2024. The company's net income also rose to $283.8 million, up 6.8% from $265.8 million year-over-year. This growth was primarily driven by higher revenues from both the Regulated Water and Regulated Natural Gas segments, which saw increases of 7.5% and 45.2%, respectively. The increase in revenues was attributed to rate adjustments and a rise in customer volumes, particularly in the natural gas segment due to colder weather conditions.
In terms of operational metrics, Essential Utilities reported a total of 280,337,601 shares outstanding as of April 25, 2025. The company also experienced a rise in customer counts, with recent acquisitions contributing to a larger customer base. Notably, the company completed the acquisition of Greenville Sanitary Authority's wastewater utility assets, serving approximately 2,300 customers, for $18 million in January 2025. Additionally, the company acquired the Village of Midvale's water system in Ohio, which serves about 1,000 customers for $2.95 million in April 2025.
The company's capital expenditures for the first quarter amounted to $270.5 million, reflecting ongoing investments in infrastructure improvements and customer service enhancements. Essential Utilities plans to invest approximately $7.8 billion from 2025 to 2029 to further upgrade its water and natural gas systems. The company also established a commercial paper program in March 2025, allowing it to issue short-term unsecured notes to support its financing needs.
Despite the positive financial results, the company faced challenges, including a 42.4% increase in purchased gas costs, which rose to $184.6 million due to higher gas prices and increased usage. The company’s effective tax rate was a benefit of 7.8%, up from 4.2% in the previous year, primarily due to the release of a tax reserve regulatory liability. Looking ahead, Essential Utilities anticipates continued growth through strategic acquisitions and infrastructure investments, while managing the impacts of regulatory changes and market conditions.
About Essential Utilities, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.