Welcome to our dedicated page for York Water news (Ticker: YORW), a resource for investors and traders seeking the latest updates and insights on York Water stock.
The York Water Company reports operating and financial developments for a regulated water and wastewater utility serving franchised territory in south-central Pennsylvania. Company updates commonly address operating revenue, net income, customer growth, common-share dividends, rate activity and the Distribution System Improvement Charge, a Pennsylvania Public Utility Commission mechanism tied to aging infrastructure replacement.
York Water news also covers capital investment in water mains, wastewater collection systems, treatment assets and utility infrastructure, along with financing actions such as common stock offerings used for corporate purposes, capital programs and debt repayment. Updates frame results around operating and maintenance expense, depreciation, interest on debt, income-tax effects and allowance for funds used during construction.
York Water Company (NASDAQ:YORW) reported mixed financial results for 2024. Operating revenues increased by $3,928,000 to $74,959,000, while net income decreased by $3,432,000 to $20,325,000 compared to 2023. Earnings per share declined by $0.24 to $1.42, though dividends per share increased by 4%.
Revenue growth was driven by rate increases effective March 1, 2023, Distribution System Improvement charge (DSIC), and customer base expansion. However, higher operation and maintenance expenses, depreciation, interest on debt, and lower AFUDC offset these gains.
The company invested $48.2 million in infrastructure improvements, including Lake Williams dam upgrades and wastewater treatment plant construction. Additionally, $783,000 was spent acquiring four water and two wastewater systems. York Water plans to invest approximately $46.0 million in 2025 and $48.5 million in 2026 for further infrastructure improvements.
York Water Company (NASDAQ:YORW) reported mixed Q3 2024 results. Operating revenues increased by $948,000 to $19.7 million, driven by Distribution System Improvement charge and customer base growth. However, net income decreased by $1.7 million to $5.9 million. EPS fell to $0.41, down $0.12 year-over-year. For the nine-month period, revenues rose by $3.2 million to $56.1 million, while net income declined by $2.6 million to $15.2 million. The company invested $33 million in capital projects and $264,000 in acquisitions, expanding its service to 57 municipalities across four counties in Pennsylvania.
The York Water Company (NASDAQ:YORW) reported its financial results for Q2 and H1 2024. Q2 operating revenues decreased slightly to $18,750,000, while net income fell to $4,993,000. Basic and Diluted EPS for Q2 decreased by $0.10 to $0.35. The decline in net income was primarily due to higher expenses and lower AFUDC.
For H1 2024, operating revenues increased to $36,378,000, but net income decreased to $9,320,000. Basic and Diluted EPS for H1 fell by $0.06 to $0.65. The company invested $20.9 million in capital projects during H1 and plans to invest an additional $21.3 million in 2024 for infrastructure improvements and expansion.
The York Water Company reported strong financial results for the first quarter of 2024, with operating revenues increasing to $17,628,000 and net income rising to $4,327,000 compared to the same period in 2023. President JT Hand highlighted the revenue growth due to rate increases and an expanding customer base, offset by higher expenses. The Company also made significant investments in infrastructure improvements and completed strategic acquisitions, positioning itself for future growth.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
YORK, Pa., March 7, 2023 – The York Water Company (NASDAQ:YORW) announced a strong financial performance for 2022, reporting operating revenues of $60.061 million, up $4.942 million from 2021. Net income rose $2.596 million to $19.580 million, with earnings per share increasing by $0.10 to $1.40. This growth was driven by acquisitions and the use of the Distribution System Improvement Charge (DSIC). The company plans to invest $60.6 million in 2023 and $47.1 million in 2024 for infrastructure improvements. However, higher operating expenses partially offset revenue increases.
The York Water Company (Nasdaq: YORW) announced a rate increase approved by the Pennsylvania Public Utility Commission on January 12, 2023, aimed at recovering costs from a $176 million investment in water and wastewater infrastructure improvements. This rate adjustment will impact approximately 75,000 customers in York, Adams, and Franklin Counties, resulting in a $6.57 increase in the average monthly water bill. Additionally, the rates will enable a total annual revenue increase of around $13.5 million, effective March 1, 2023.