York Water (NASDAQ: YORW) details 2025 results and $48M annual capex plan
Filing Impact
Filing Sentiment
Form Type
8-K
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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8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
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.
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.
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)
(Exact name of registrant as specified in its charter)
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of incorporation)
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Identification No.)
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Registrant's telephone number, including area code (
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(Former Name or Former Address, if Changed Since Last Report)
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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(Title of Class)
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(Trading Symbol)
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(Name of Each Exchange on Which Registered)
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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
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Item 2.02
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Results of Operations and Financial Condition.
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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.
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Item 9.01
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Financial Statements and Exhibits.
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(c) Exhibits.
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Exhibit No.
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Description of Exhibit
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99.1
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Press Release, March 3,
2026, issued by the York Water Company
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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.
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THE YORK WATER COMPANY
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| /s/ Matthew E. Poff | |
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Date: March 3, 2026
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Matthew E. Poff
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Chief Financial Officer
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NEWS RELEASE
Contact Information:
JT Hand, President & CEO
jth@yorkwater.com
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Matthew E. Poff, Chief Financial Officer
matthewp@yorkwater.com
717-845-3601
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 130 East Market Street
York, PA 17401
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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 $48 million in each year, excluding acquisitions, for
additional main extensions, an upgrade to the enterprise software system, water treatment plant construction, water tank replacement, wastewater treatment plant construction, and routine improvements to its pipes, service lines, and other facilities
to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.
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Period Ended December 31
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In 000's (except per share)
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Quarter
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Twelve Months
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2025
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2024
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2025
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2024
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Operating Revenues
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$
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19,472
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$
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18,866
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$
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77,488
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$
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74,959
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Net Income
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$
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5,167
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$
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5,142
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$
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20,058
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$
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20,325
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Average Number of Common Shares Outstanding
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14,426
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14,366
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14,404
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14,347
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Basic and Diluted Earnings Per Common Share
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$
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0.36
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$
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0.36
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$
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1.39
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$
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1.42
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Dividends Declared Per Common Share
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$
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0.2280
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$
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0.2192
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$
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0.8856
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$
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0.8516
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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.
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