Essential Utilities reports news on regulated water, wastewater and natural gas utility operations conducted through its Aqua and Peoples brands. Updates commonly cover segment earnings, rate awards and infrastructure surcharges, capital spending on water, wastewater and gas systems, and programs for pipeline replacement, treatment upgrades, water quality compliance and PFAS remediation across its multi-state footprint.
Company news also includes municipal water and wastewater system acquisitions, dividend declarations, financing activity and regulatory developments tied to the proposed all-stock merger with American Water Works. These releases connect operating results with utility rate recovery, customer growth, environmental compliance and the capital needs of regulated infrastructure.
The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.2682 per share, set to be paid on March 1, 2022, to shareholders of record as of February 11, 2022.
With 77 years of consecutive dividend payments and 31 increases in the last 30 years, Essential underscores its commitment to shareholder returns. The company serves approximately 5 million people across 10 states, ensuring safe and reliable water and natural gas services.
Essential Utilities Inc. (NYSE: WTRG) has appointed Matt Deluhery as National Safety Director. Deluhery, with over 20 years of industry experience, previously served as Aqua's safety director since December 2019. His new role involves overseeing a strategic safety vision for water and gas businesses, ensuring safety compliance across the organization. Chief Environmental, Safety and Sustainability Officer Chris Crockett expressed confidence in Deluhery's capabilities to standardize safety programs, highlighting the company's strong commitment to safety.
Essential Utilities Inc. (NYSE: WTRG) announced a net income of $50.5 million for Q3 2021, down from $55.7 million in Q3 2020. Earnings per share were $0.19, while revenues increased by 3.8% to $361.9 million. The company reported year-to-date net income of $315.1 million ($1.23/share), up 51.9% from the previous year's adjusted income. Essential signed acquisition agreements for $468 million, bolstering its municipal wastewater services. It reaffirmed 2021 EPS guidance of $1.64 to $1.69 and plans to invest $1 billion in infrastructure this year.
The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.2682 per share, payable on Dec. 1, 2021 to shareholders of record by Nov. 12, 2021. This marks the company's 76th consecutive quarterly dividend payment and its 31st increase in the last 30 years. Serving around 5 million customers in 10 states, Essential is committed to reliable water and natural gas services, emphasizing infrastructure investment and environmental stewardship.
Essential Utilities Inc. (NYSE: WTRG) has signed an asset purchase agreement with the City of Beaver Falls, Pennsylvania, to acquire its wastewater assets for approximately $41.25 million. This acquisition, which requires approval from the Pennsylvania Public Utility Commission, will enhance service for around 7,600 customer-equivalents. Essential plans to invest about $10 million in infrastructure improvements over the next decade. This agreement marks the company's first acquisition in Beaver County and adds to its portfolio of signed agreements totaling approximately $467.7 million.
Essential Utilities Inc. (NYSE: WTRG) plans to release its earnings for the quarter ending September 30, 2021, before market opening on November 1, 2021. A conference call for financial analysts is scheduled for the same day at 11 a.m. EDT, which will be available for live streaming on their website. The call will also be archived for 90 days, with an audio replay accessible starting at 2 p.m. on November 1 for 10 business days. Essential operates in water, wastewater, and natural gas sectors, serving approximately 5 million customers across 10 states.
Essential Utilities Inc. (NYSE: WTRG) announced the acquisition of the wastewater system in Bourbonnais, Illinois for $32.1 million, serving approximately 6,500 customers. This marks the company's second acquisition in 2021, with six additional agreements totaling $426.4 million. Essential will invest at least $9 million into infrastructure upgrades, enhancing service reliability for the community. The acquisition aligns with Essential's commitment to improve quality of life through reliable services.
Aqua Pennsylvania has filed a request with the Pennsylvania PUC to increase water and wastewater rates to recover $1.1 billion spent on infrastructure upgrades. This includes replacing over 400 miles of aging water mains and enhancing service reliability. If approved, typical monthly residential water bills will rise from $69.35 to $81.32, while wastewater bills will go from $55.51 to $73.95. The request aims for a $97.7 million revenue increase. Aqua serves 1.5 million people and highlights its commitment to providing safe drinking water and efficient wastewater services.
Essential Utilities reported second-quarter results for 2021, showcasing a net income of $80.9 million, an 8.4% increase from $74.6 million in Q2 2020. Earnings per share rose to $0.32 from $0.29. Revenue increased by 3.3% to $397.0 million driven by higher rates and volumes. The regulated water segment generated $248.2 million, up 6.0%, while the natural gas segment dipped to $141.6 million, a 3.6% decline due to warm weather impacts. The company reaffirmed its full-year earnings guidance of $1.64 to $1.69 per share.
Essential Utilities (NYSE: WTRG) announced the acquisition of the water treatment and distribution system in The Commons of Lake Houston, Texas, which serves about 1,000 homes. This marks the first transaction utilizing Texas's new fair market value law, allowing regulated water companies to pay a fair market value for systems. Essential's Chairman highlighted the law's benefits for municipalities by facilitating compliance with health and environmental standards. The acquisition is part of a broader strategy, with seven additional agreements totaling $458.5 million for other water and wastewater systems.