The York Water Company (NASDAQ:YORW) reported higher results for the quarter and six months ended June 30, 2026. Second quarter operating revenues were $23.5 million, up $4.3 million, and net income was $7.6 million, up $2.6 million versus 2025. Basic and diluted EPS rose to $0.49, an increase of $0.14 per share.
For the first six months of 2026, operating revenues were $43.6 million, up $5.9 million, and net income was $12.4 million, up $3.7 million, with EPS of $0.82, up $0.22. According to the company, revenue growth was mainly driven by rate increases effective March 1, 2026 and customer growth, partially offset by a reset to zero of the Distribution System Improvement Charge. The company invested $21.1 million in capital projects and $470,000 to acquire two wastewater systems in the first half, and estimates an additional $26.8 million of capital spending in 2026, excluding acquisitions.
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Positive
Q2 2026 operating revenues up $4.3 million year over year
Q2 2026 net income up $2.6 million versus 2025
Q2 EPS increased to $0.49, up $0.14 per share
Six‑month 2026 revenues up $5.9 million versus prior year
Six‑month 2026 net income up $3.7 million year over year
2026 six‑month EPS rose to $0.82, up $0.22
Capital investment of $21.1 million in infrastructure and systems
Two wastewater system acquisitions for $470,000 expand service footprint
Quarterly dividend per share increased to $0.2280 from $0.2192
Negative
Higher operation and maintenance expenses partially offset revenue increases
Higher depreciation expense reduced the benefit of revenue growth
Higher income taxes in Q2 offset part of revenue gains
Reset to zero of DSIC partially offset rate-driven revenue increases
Planned additional 2026 capital spending of $26.8 million excluding acquisitions
News Explained
Per-share comparisons include a larger average share base, while the declared dividend per common share is higher.
The York Water Company’s August 6, 2026 release is a completed earnings report for the second quarter and first six months of 2026, and it shows per-share reporting against a larger average common-share base while declaring a higher dividend per common share than in 2025.
For the quarter, average common shares outstanding were 15,883 versus 14,397 a year earlier, and dividends declared per common share were $0.2280 versus $0.2192; for six months, dividends declared per common share were $0.4560 versus $0.4384.
Market Context
The prior Q1 2026 earnings release had a -0.1% 24-hour reaction, adding historical context to this q...
Analysis
The prior Q1 2026 earnings release had a -0.1% 24-hour reaction, adding historical context to this quarter’s reported growth. Recent Net Buying provides an additional signal, while operating costs and capital spending remain watch items.
Key Figures
Q2 operating revenue:$23,515,000Q2 net income:$7,615,000Q2 EPS:$0.49+5 more
8 metrics
Q2 operating revenue$23,515,000Q2 2026; increased $4,316,000 year over year
Q2 net income$7,615,000Q2 2026; increased $2,563,000 year over year
Q2 EPS$0.49Three-month period; increased $0.14 year over year
Six-month operating revenue$43,589,000First six months of 2026; increased $5,934,000 year over year
Six-month net income$12,429,000First six months of 2026; increased $3,739,000 year over year
Six-month EPS$0.82First six months of 2026; increased $0.22 year over year
Capital investment$21.1 millionFirst six months of 2026 capital projects
Company proposed a common stock offering to fund capital investment and debt repayment.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
In the available history, the prior positive earnings release had a slightly negative reaction, while most offering announcements aligned with negative reactions.
Key Terms
distribution system improvement charge, irs tangible property regulations
2 terms
distribution system improvement chargeregulatory
"The DSIC is a Pennsylvania Public Utility Commission allowed charge"
A distribution system improvement charge is a regulated surcharge utilities add to customer bills to recover costs for upgrading local power lines, poles, transformers and other delivery equipment. It matters to investors because it speeds up cost recovery and stabilizes a utility’s cash flow and earnings between full rate reviews—like allowing a homeowner to add a small, ongoing fee to pay for immediate repairs instead of waiting to save up for a big bill.
irs tangible property regulationsregulatory
"higher deductions from the IRS tangible property regulations"
IRS tangible property regulations are U.S. tax rules that tell businesses when spending on physical assets—like buildings, equipment or machinery—must be treated as a current repair expense or capitalized and depreciated over time. They matter to investors because the choice affects a company’s reported taxable income, cash taxes and accounting profit, much like deciding whether a car repair is a routine fix or a major rebuild that must be tracked and written off over years.
YORK, Pa., Aug. 06, 2026 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the second quarter and the first six months of 2026.
President Hand reported that second quarter operating revenues of $23,515,000 increased $4,316,000, and net income of $7,615,000 increased $2,563,000 compared to the second quarter of 2025. Basic and Diluted Earnings per share of $0.49 for the three-month period increased $0.14 compared to the same period last year. Increased revenues were primarily due to increase in rates effective March 1, 2026 partially offset by a reset to zero of the Distribution System Improvement Charge (DSIC). The DSIC is a Pennsylvania Public Utility Commission allowed charge that water utilities collect from customers for the replacement of aging infrastructure. Growth in the customer base also added to revenues. The increased revenue was partially offset by higher operation and maintenance expenses, depreciation, and income taxes.
President Hand also reported that the first six months operating revenues of $43,589,000 increased $5,934,000, and net income of $12,429,000 increased $3,739,000 compared to the first six months of 2025. Increased revenues were primarily due to increase in rates effective March 1, 2026 partially offset by a reset to zero of the DSIC. Income taxes decreased due to higher deductions from the IRS tangible property regulations. The increased revenue and lower income taxes were partially offset by higher operation and maintenance expenses and depreciation. Basic and Diluted Earnings per share of $0.82 for the six-month period increased $0.22 compared to the same period last year.
During the first six months of 2026, the Company invested $21.1 million in capital projects for main extensions, wastewater treatment plant construction, and an upgrade to the enterprise software system, as well as various replacements and improvements to infrastructure and routine items. In addition, the Company invested $470,000 in the acquisition of two wastewater systems, including the CMV Sewage Co. in York County and the Pine Run Retirement Community in Adams County. The Company estimates it will invest an additional $26.8 million in 2026, excluding acquisitions, for additional main extensions, a continuing upgrade to the enterprise software system, and routine improvements to its pipes, service lines, and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.
Period Ended June 30
In 000's (except per share)
Quarter
Six Months
2026
2025
2026
2025
Operating Revenues
$
23,515
$
19,199
$
43,589
$
37,655
Net Income
$
7,615
$
5,052
$
12,429
$
8,690
Average Number of Common Shares Outstanding
15,883
14,397
15,165
14,389
Basic and Diluted Earnings Per Common Share
$
0.49
$
0.35
$
0.82
$
0.60
Dividends Declared Per Common Share
$
0.2280
$
0.2192
$
0.4560
$
0.4384
This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.
Contact Information:
JT Hand, President & CEO
jth@yorkwater.com
-OR-
Matthew E. Poff, Chief Financial Officer
matthewp@yorkwater.com
717-845-3601
FAQ
How did York Water (NASDAQ:YORW) perform in Q2 2026 earnings?
York Water reported higher Q2 2026 earnings, with net income of $7.6 million and EPS of $0.49. According to the company, both metrics increased versus Q2 2025, supported by rate increases and customer growth, partly offset by higher expenses and DSIC reset impacts.
What were York Water’s revenues and profits for the first six months of 2026?
For the first six months of 2026, York Water generated operating revenues of $43.6 million and net income of $12.4 million. According to the company, both figures rose versus 2025, driven mainly by March 1, 2026 rate increases and lower income taxes from tangible property regulations.
What drove York Water’s revenue growth in Q2 and first half 2026 (YORW)?
York Water’s revenue growth was mainly driven by increased rates effective March 1, 2026 and customer base growth. According to the company, these factors were partially offset by a reset to zero of the Distribution System Improvement Charge, a Pennsylvania infrastructure recovery mechanism.
How much did York Water invest in capital projects and acquisitions in early 2026?
During the first six months of 2026, York Water invested $21.1 million in capital projects and $470,000 in acquiring two wastewater systems. According to the company, planned additional 2026 capital spending is $26.8 million, excluding further acquisitions and focused on infrastructure and software upgrades.
Did York Water (YORW) increase its dividend in Q2 2026?
Yes. York Water declared a Q2 2026 dividend of $0.2280 per common share, compared with $0.2192 a year earlier. According to the company, total dividends for the first six months of 2026 were $0.4560 per share, up from $0.4384 in 2025.
What acquisitions did York Water complete in the first half of 2026?
In early 2026, York Water invested $470,000 to acquire two wastewater systems: CMV Sewage Co. in York County and Pine Run Retirement Community in Adams County. According to the company, these acquisitions expand its wastewater service footprint alongside ongoing infrastructure investment.
What are York Water’s planned capital expenditures for full-year 2026?
York Water estimates additional 2026 capital spending of $26.8 million, excluding acquisitions. According to the company, these investments will fund main extensions, continued enterprise software upgrades, and routine improvements to pipes, service lines, and facilities to support a growing customer base.
