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 (WTRG) delivers vital water, wastewater, and natural gas services to 3 million customers across eight U.S. states. This news hub provides investors and stakeholders with comprehensive updates on the company's operational milestones, regulatory compliance, and service expansions.
Access real-time press releases covering quarterly earnings, infrastructure investments, and environmental stewardship initiatives. Our curated collection includes regulatory filings, partnership announcements, and operational updates directly from WTRG's corporate communications.
Key focus areas include water system modernization projects, gas distribution safety enhancements, and compliance with evolving utility regulations. Users will find detailed reporting on rate case decisions, capital improvement programs, and community impact initiatives.
Bookmark this page for streamlined access to Essential Utilities' official announcements. Combine strategic insights with operational data through our organized repository of primary source materials and verified updates.
Essential Utilities has appointed Kimberly Joyce as corporate secretary, in addition to her current role as Vice President of Regulatory and Government Affairs. This transition aims to leverage Joyce's 15 years of experience with the company, enhancing the board's oversight and compliance with Securities & Exchange Commission regulations. Joyce previously worked with the Pennsylvania Public Utility Commission and holds a B.A. in economics, an M.B.A., and a J.D. This move is expected to ensure organizational stability and continuity.
Essential Utilities has appointed Jim Barbato as the new vice president of financial planning and analysis from his previous role as vice president of corporate engineering. He will report to the CFO and oversee financial planning functions, including budgeting, forecasting, and capital budgeting. Barbato has been with the company since 2007, holding various engineering roles across several states. His extensive experience in capital planning and engineering makes him well-suited for this strategic position. CFO Dan Schuller emphasized the importance of investment in infrastructure for the company's mission.
Essential Utilities Inc. (NYSE: WTRG) announced the acquisition of East Whiteland Township's municipal wastewater assets in Chester County for approximately $55 million. This system serves around 8,200 customer-equivalents and includes 57 miles of collection mains and 12 pump stations. The acquisition enhances Essential's wastewater services and builds on its existing water service credibility in the area. Over the next decade, Essential plans to invest $17 million in infrastructure improvements, including major sewer extensions. This marks the second acquisition by Essential in 2022.
Essential Utilities has appointed Whitney Kellett as Vice President and Chief Information Officer to spearhead a $143 million service improvement project, following the retirement of Ruth DeLost-Wylie. This initiative, which began in 2020, will advance under Kellett’s guidance. Additionally, she will transition to Chief Administrative Officer later in 2023. Kellett, a seasoned IT executive with extensive experience across various sectors, has been integral to enhancing the company's IT capabilities since she joined in 2016.
Essential Utilities has promoted Dave Kralle to Chief of Staff, a position created by CEO Christopher Franklin in 2015 to enhance organizational communication and decision-making. Kralle, who joined Aqua Pennsylvania in 2015, has a strong background in government affairs, having led legislation on utility operations and secured funding for PFAS treatment. This strategic appointment aims to integrate the company's vision and core values more effectively across its operations, reflecting an increased emphasis on personnel management.
Essential Utilities Inc. (NYSE: WTRG) reported a net income of $82.3 million in Q2 2022, up from $80.9 million in Q2 2021. Earnings per share (EPS) were $0.31, slightly down from $0.32 year-over-year. Revenues increased by 13.0% to $448.8 million, driven by higher rates and customer growth in its regulated water and natural gas segments. The board declared a 7% increase in the quarterly dividend, marking the 32nd increase in 31 years. The company reaffirmed its guidance of $1.75 to $1.80 EPS for 2022, projecting 5-7% long-term growth through 2024.
Essential Utilities has appointed Brian Dingerdissen as vice president, investor relations and treasurer, succeeding Stan Szczygiel. Dingerdissen, who has been with the company since 2005, will continue to oversee investor relations and lead the company’s ESG program. Under his leadership as head of investor relations since 2008, the company's market cap increased from $2B to over $13B. He played a key role in the successful $2 billion secondary public equity offering in 2019 for the acquisition of Peoples.
The board of directors of Essential Utilities (NYSE: WTRG) declared a quarterly cash dividend of
The annualized dividend rate will be
Aqua Illinois, a subsidiary of Essential Utilities (NYSE: WTRG), has appointed David Carter as the new state president. With over 15 years of expertise in water and wastewater management, including roles at Suez Environment and Veolia Water North America, Carter aims to enhance service for 273,000 customers across Illinois. He replaces Bob Ervin, who moves to Aqua Indiana. Carter's leadership is anticipated to boost operational efficiency and strategic growth within the company.
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