York Water (NASDAQ: YORW) details 2025 results and $48M annual capex plan

Rhea-AI Filing Summary

The York Water Company reported its 2025 annual and fourth quarter results. Full-year operating revenues were $77,488,000, up $2,529,000 from 2024, while net income was $20,058,000, down $267,000. Earnings per share were $1.39, a decrease of $0.03.

Revenue growth came mainly from customer growth and the Distribution System Improvement Charge, but higher operating costs, depreciation, interest expense, and lower AFUDC more than offset these benefits. In 2025 the company invested $48.7 million in capital projects and plans approximately $48 million of additional investments in each of 2026 and 2027.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: March 3, 2026

(Date of earliest event reported)

THE YORK WATER COMPANY

(Exact name of registrant as specified in its charter)

Pennsylvania	001-34245		23-1242500
(State or other jurisdiction	(Commission		(I.R.S. Employer
of incorporation)	File Number)		Identification No.)
130 East Market Street, York, Pennsylvania		17401-1219
(Address of principal executive offices)		(Zip Code)

Registrant's telephone number, including area code (717) 845-3601

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

COMMON STOCK, NO PAR VALUE	YORW	The Nasdaq Global Select Market
(Title of Class)	(Trading Symbol)	(Name of Each Exchange on Which Registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ◻

THE YORK WATER COMPANY

Item 2.02 Results of Operations and Financial Condition.

On March 3, 2026, The York Water Company issued a press release announcing its fourth quarter and annual 2025 financial results.  The press release is being furnished with this Current Report on Form 8-K Exhibit 99.1 and is hereby incorporated herein by reference.  This report (including the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

Item 9.01	Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No.	Description of Exhibit
99.1	Press Release, March 3, 2026, issued by the York Water Company

THE YORK WATER COMPANY

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	THE YORK WATER COMPANY
	/s/ Matthew E. Poff
Date: March 3, 2026	Matthew E. Poff
	Chief Financial Officer

NEWS RELEASE  Contact Information: JT Hand, President & CEO jth@yorkwater.com -OR- Matthew E. Poff, Chief Financial Officer matthewp@yorkwater.com  717-845-3601  130 East Market Street York, PA 17401

FOR IMMEDIATE RELEASE

THE YORK WATER COMPANY REPORTS 2025 ANNUAL AND FOURTH QUARTER RESULTS

York, Pennsylvania, March 3, 2026:  The York Water Company's (NASDAQ:YORW) President and CEO, JT Hand, announced the Company's 2025 financial results.

President Hand reported that 2025 operating revenues of $77,488,000 increased $2,529,000, but net income of $20,058,000 decreased $267,000 compared to 2024.  Basic and Diluted Earnings per share of $1.39 for 2025 decreased $0.03 compared to 2024.  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 Company also recognized a non-recurring gain on life insurance.  The increased revenue, lower income taxes, and gain on life insurance were more than 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.

During the year, the Company invested $48.7 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.  During 2025, the Company replaced approximately 54,100 feet of water main and 1,800 feet of wastewater main to improve its distribution and collection systems, reduce ongoing expenses, and improve customer service.

President Hand also reported that for the fourth quarter of 2025 operating revenues increased $606,000 and net income increased $25,000 compared to the fourth quarter of 2024.  Basic and Diluted Earnings per share were $0.36 for the fourth quarter of 2025, the same as the fourth quarter last year.  Increased revenues were primarily due to revenues from growth in the customer base and DSIC.  The Company also recognized a non-recurring gain on life insurance.  The increased revenue was partially offset by higher operation and maintenance expenses, depreciation, and higher interest on debt.

President Hand reported that York Water anticipates investments for 2026 and 2027 of approximately $48 million in each year, excluding acquisitions, for additional main extensions, an upgrade to the enterprise software system, water treatment plant construction, water tank replacement, wastewater treatment plant construction, 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 December 31
		In 000's (except per share)
		Quarter								Twelve Months
		2025				2024				2025				2024
Operating Revenues		$	19,472			$	18,866			$	77,488			$	74,959
Net Income		$	5,167			$	5,142			$	20,058			$	20,325
Average Number of Common Shares Outstanding			14,426				14,366				14,404				14,347
Basic and Diluted Earnings Per Common Share		$	0.36			$	0.36			$	1.39			$	1.42
Dividends Declared Per Common Share		$	0.2280			$	0.2192			$	0.8856			$	0.8516

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.

###

FAQ

How did York Water (YORW) perform financially in 2025?

York Water’s 2025 operating revenues rose to $77,488,000, an increase of $2,529,000, while net income edged down to $20,058,000, a decline of $267,000 versus 2024, reflecting higher expenses and interest costs.

What were York Water’s (YORW) 2025 earnings per share and dividends?

York Water reported 2025 basic and diluted earnings per share of $1.39, down $0.03 from 2024. Dividends declared per common share were $0.8856 for 2025, compared with $0.8516 in 2024, showing modest dividend growth.

How did York Water (YORW) perform in the fourth quarter of 2025?

In Q4 2025, York Water’s operating revenues were $19,472,000, up $606,000 from Q4 2024. Net income was $5,167,000, an increase of $25,000, and earnings per share were $0.36, unchanged from the prior-year quarter.

What capital investments did York Water (YORW) make in 2025?

York Water invested $48.7 million in 2025 capital projects, including main extensions, enterprise software upgrades, and infrastructure replacements. It replaced about 54,100 feet of water main and 1,800 feet of wastewater main to improve system reliability and customer service.

What are York Water’s (YORW) planned investments for 2026 and 2027?

York Water anticipates investing approximately $48 million in each of 2026 and 2027, excluding acquisitions. Planned uses include main extensions, software upgrades, water and wastewater treatment plant projects, water tank replacement, and routine system improvements to support its growing customer base.

What factors drove York Water’s 2025 revenue and expense changes?

Revenue growth in 2025 was primarily driven by customer growth and the Distribution System Improvement Charge. However, higher operation and maintenance expenses, increased depreciation, higher interest on debt, and lower AFUDC offset benefits from revenue growth, lower income taxes, and a non-recurring life insurance gain.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 YWC PRESS RELEASE 03/03/26 29.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 21.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 15.7 KB