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.
Essential Utilities Inc. (NYSE: WTRG) has announced its earnings guidance for 2022, projecting net income per diluted share between $1.75 and $1.80. The company is committed to investing $3 billion in infrastructure over three years, focusing on its regulated water segment. Additionally, Essential reaffirms its long-term earnings growth target of 5-7% CAGR through 2024, driven by water and gas customer growth of 2-3% and stable gas customer count for 2022. The company also aims to reduce greenhouse gas emissions by 60% by 2035.
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.