The York Water Company Reports 3rd Quarter and Nine Months Earnings

Rhea-AI Summary

The York Water Company (NASDAQ:YORW) reported third-quarter and nine-month 2025 results. For Q3 2025, operating revenues were $20,361,000 (up $646,000) and net income was $6,201,000 (up $338,000); basic and diluted EPS were $0.43 (up $0.02 year-over-year). For the first nine months of 2025, operating revenues were $58,016,000 (up $1,923,000) while net income was $14,891,000 (down $292,000) and EPS was $1.03 (down $0.03).

Revenue growth was driven by customer base expansion and the Pennsylvania DSIC; income taxes fell due to IRS tangible property regulation deductions. Offsets included higher operation and maintenance expenses, depreciation, interest expense and lower AFUDC. The company invested $37.1 million year-to-date and estimates an additional $10.0 million in 2025 for mains, software upgrades and routine infrastructure work.

Insights

Utility Financial Analyst

Mixed quarter: modest revenue and EPS gains in Q3 but lower nine-month net income and EPS; capex ramp noted.

The company reported third-quarter operating revenues of $20,361,000 (up $646,000) and net income of $6,201,000 (up $338,000), with basic and diluted EPS of $0.43 (up $0.02). Revenue growth in both the quarter and nine months came from customer growth and the DSIC, while income taxes fell due to higher deductions under IRS tangible property regulations. For the nine-month period operating revenues rose to $58,016,000 (up $1,923,000) but net income fell to $14,891,000 (down $292,000) and nine-month EPS fell to $1.03 (down $0.03).

Key offsets to revenue gains were higher operation and maintenance expenses, increased depreciation, higher interest expense, and lower AFUDC; these items explain why nine-month profitability lagged despite higher revenues. Management invested $37.1 million year-to-date in capital projects and plans an additional $10.0 million before year-end for mains, a software upgrade, and routine infrastructure work; this capex supports service reliability but raises near-term depreciation and interest costs.

Watch the pace and regulatory recovery of DSIC receipts, year-end cumulative capex and its AFUDC reversal, and quarterly operating expense trends over the next 12 months. The dividend per share rose modestly year-over-year for both the quarter and nine months, which supports income continuity but does not change the mixed earnings signal.

11/06/2025 - 09:30 AM

YORK, Pa., Nov. 06, 2025 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the third quarter and the first nine months of 2025.

President Hand reported that third quarter operating revenues of $20,361,000 increased $646,000 and net income of $6,201,000 increased $338,000 compared to the third quarter of 2024. Basic and Diluted Earnings per share of $0.43 for the three-month period increased $0.02 compared to the same period last year. Increased revenues were primarily due to growth in the customer base and revenues from 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.   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, higher interest on debt, and lower allowance for funds used during construction (AFUDC). AFUDC is the cost of debt and equity funds used to finance plant construction.

President Hand also reported that the first nine months operating revenues of $58,016,000 increased $1,923,000, but net income of $14,891,000 decreased $292,000 compared to the first nine months of 2024. Increased revenues were primarily due to growth in the customer base and revenues from the DSIC. Income taxes decreased due to higher deductions from the IRS tangible property regulations. The increased revenue and lower income taxes were more than offset by higher operation and maintenance expenses and depreciation, higher interest on debt, and lower AFUDC. Basic and Diluted Earnings per share of $1.03 for the nine-month period decreased $0.03 compared to the same period last year.

During the first nine months of 2025, the Company invested $37.1 million in capital projects for main extensions and an upgrade to the enterprise software system, as well as various replacements and improvements to infrastructure and routine items. The Company estimates it will invest an additional $10.0 million in 2025, 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 September 30
	In 000's (except per share)
	Quarter				Nine Months
	2025		2024		2025		2024
Operating Revenues	$	20,361	$	19,715	$	58,016	$	56,093
Net Income	$	6,201	$	5,863	$	14,891	$	15,183
Average Number of Common Shares Outstanding		14,412		14,354		14,397		14,340
Basic and Diluted Earnings Per Common Share	$	0.43	$	0.41	$	1.03	$	1.06
Dividends Declared Per Common Share	$	0.2192	$	0.2108	$	0.6576	$	0.6324

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

What were York Water Company (YORW) Q3 2025 revenues and net income?

Q3 2025 operating revenues were $20,361,000 and net income was $6,201,000.

How did YORW earnings per share change in Q3 and the first nine months of 2025?

Q3 EPS was $0.43 (up $0.02) and nine-month EPS was $1.03 (down $0.03) versus 2024.

What drove revenue growth for YORW in 2025?

Management cited customer base growth and revenues from the Pennsylvania Distribution System Improvement Charge (DSIC).

Why did YORW's net income fall for the first nine months of 2025 despite higher revenue?

Higher operation and maintenance expenses, depreciation, higher interest on debt and lower AFUDC more than offset revenue gains and lower income taxes.

How much capital did YORW invest in the first nine months of 2025 and what is planned for the rest of the year?

YORW invested $37.1 million year-to-date and expects to invest an additional $10.0 million in 2025 (excluding acquisitions).

Did YORW report any tax-related items affecting 2025 results?

Yes; income taxes decreased due to higher deductions under the IRS tangible property regulations.