Welcome to our dedicated page for Essential Utilities news (Ticker: WTRG), a resource for investors and traders seeking the latest updates and insights on Essential Utilities stock.
Essential Utilities, Inc. reports developments across regulated water, wastewater and natural gas distribution businesses operated under the Aqua and Peoples brands. The company serves communities across nine states and links its recurring updates to utility infrastructure modernization, pipeline replacement, treatment plant upgrades, monitoring technology and drinking water compliance.
Company news also covers PFAS-related capital planning, operating and financial results, quarterly dividend declarations, material agreements, shareholder matters, governance actions and capital-structure disclosures. These updates reflect a utility holding company whose business is shaped by regulated service territories, long-lived infrastructure assets and recurring investment in water, wastewater and natural gas systems.
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Essential Utilities has appointed Alicia Beauchamp as the Director of its state-of-the-art water analysis and technology lab. A company veteran with 20 years of experience, Beauchamp's leadership is pivotal for ensuring water quality across eight states where Aqua operates. She has been instrumental in the company’s decision to test and remediate PFAS toxins in drinking water, a move made prior to the EPA's proposed limits. Under her direction, the lab conducts approximately 90,000 water-quality tests annually. Her recent efforts also included crucial laboratory testing following a March 25 chemical spill in the Delaware River. Beauchamp replaces Christine Brisbin, who has retired.
Essential Utilities Inc. (NYSE: WTRG) will report its Q1 earnings on May 8, 2023, after market close. A conference call is scheduled for May 9 at 11 a.m. EDT, accessible via their website. Operating mainly under the Aqua and Peoples brands, Essential serves around 5.5 million customers across 10 states, focusing on water, wastewater, and natural gas services. The company emphasizes sustainable growth and community advocacy, while being a significant player in the U.S. utility sector.
Essential Utilities (NYSE: WTRG) announced significant developments regarding PFAS 'forever chemicals' in drinking water. The EPA proposed a maximum PFAS level for the U.S., expecting finalization by early next year. Essential has proactively tested its water systems for over six years. Customers will soon access local PFAS levels on the company's website. Additionally, they are advocating for cost recovery from responsible parties through lawsuits and applying for grants to alleviate customer expenses. Essential's commitment to transparency and environmental stewardship underscores its leadership in water quality.
Essential Utilities reported a successful 2022 with earnings per share of $1.77, marking a 6% growth from 2021. Total operating revenues reached $2.29 billion, a 21.8% increase year-over-year, fueled by higher gas costs recovery and customer growth. Record infrastructure investments of $1.06 billion supported operational enhancements. The company closed three acquisitions, adding $120 million in rate base and over 23,000 customers. Guidance for 2023 projects net income per share between $1.85 and $1.90, with continued focus on ESG commitments and capital expenditures expected to increase to $1.1 billion annually through 2025.
The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.2870 per share, payable on June 1, 2023, to shareholders of record on May 12, 2023. This represents a 7% increase from the $0.2682 dividend paid in June 2022, marking the 32nd increase in the last 31 years. Essential Utilities has maintained consecutive quarterly dividends for 78 years, demonstrating its commitment to returning value to shareholders.
Essential Utilities Inc. (NYSE: WTRG) reaffirmed its 2022 earnings per share (EPS) guidance of $1.75 to $1.80 and announced a 2023 EPS guidance of $1.85 to $1.90. The company plans to invest $3.3 billion in infrastructure through 2025, with a focus on growing the rate base for the regulated water segment by 6-7% and for the regulated natural gas segment by 8-10%. Essential is committed to ESG initiatives including a 60% reduction in greenhouse gas emissions by 2035.