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 (NASDAQ: YORW) is an investor-owned, regulated water and wastewater utility serving municipalities in south-central Pennsylvania. This news page compiles York Water’s publicly released updates, giving investors and observers a single place to review the company’s reported developments.
York Water regularly issues news releases on its quarterly and annual financial results, detailing operating revenues, net income, earnings per share, and dividends declared per common share. These earnings announcements often explain how rate changes approved by the Pennsylvania Public Utility Commission, the Distribution System Improvement Charge (DSIC), customer growth, and cost factors such as operation and maintenance expenses, depreciation, interest on debt, and allowance for funds used during construction (AFUDC) have affected results.
In addition to earnings, York Water publishes updates on capital investment plans and projects. Recent communications describe spending on main extensions, wastewater treatment plant construction, armoring and replacing the spillway of the Lake Williams dam, water tank replacement, and upgrades to enterprise software systems, as well as acquisitions of water and wastewater systems that expand its service footprint within Adams, Franklin, Lancaster, and York counties.
Visitors to this page can review York Water’s announcements about rate requests filed with the Pennsylvania Public Utility Commission, which link proposed rate changes to specific infrastructure investments and regulatory requirements. The feed may also include governance-related items that appear in company press releases, such as references to Board and leadership developments that are also discussed in SEC filings.
By following this news stream, users can see how York Water describes the relationship between its capital investments, regulatory environment, customer base, and financial performance over time.
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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.
The York Water Company (NASDAQ:YORW) reported strong financial results for Q3 and the first nine months of 2022. Q3 operating revenues reached $15.81 million, up $1.31 million year-over-year, with net income of $5.68 million increasing by $887,000. Basic earnings per share rose to $0.40. For the nine-month period, revenues reached $44.95 million, up $3.57 million, with net income of $14.57 million. The company invested $34.1 million in construction and improvements, indicating a commitment to enhancing its infrastructure.
The York Water Company (NASDAQ:YORW) reported an increase in second-quarter operating revenues to $14.9 million, a rise of $1.098 million from 2021. Net income also increased to $5.029 million, up by $545,000.
For the first half of 2022, operating revenues reached $29.139 million, a $2.257 million year-on-year increase, with net income at $8.888 million, reflecting a $699,000 rise. Basic and diluted EPS for Q2 was $0.36, and for H1 was $0.65. The company is focusing on infrastructure improvements, planning additional investments of $26 million this year.
The York Water Company (NASDAQ:YORW) has requested an $18.8 million increase in annual water revenues and a $1.5 million increase for wastewater, as filed with the Pennsylvania Public Utility Commission on May 27, 2022. This increase stems from approximately $176 million in capital investments made since its last rate filing in 2018, aimed at enhancing utility system resiliency and reliability. Improvements include rehabilitating the Lake Williams Dam, replacing aging infrastructure, and constructing a new wastewater treatment plant.
The York Water Company (NASDAQ:YORW) reported strong financial results for Q1 2022, with operating revenues increasing by $1,159,000 to $14,240,000 and net income rising by $154,000 to $3,859,000 compared to Q1 2021. Basic and diluted earnings per share reached $0.29, up from $0.28 in the previous year. Revenue growth stems from an expanded customer base and the Distribution System Improvement Charge for infrastructure upgrades. However, this increase was partially offset by higher operation, maintenance expenses, and depreciation costs.
The York Water Company (NASDAQ: YORW) announced the completion of its public offering, raising approximately $44 million. The offering included the underwriter’s full option to purchase an additional 146,340 shares, priced at $41 each. York Water plans to utilize the net proceeds for general corporate purposes, such as capital investments, debt repayment, and potential acquisitions. The offering was managed by Janney Montgomery Scott, and a prospectus supplement has been filed with the SEC.