Stronger Q1 profit at York Water (NASDAQ: YORW) as EPS climbs
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
The York Water Company reported higher earnings for the first quarter of 2026. Operating revenues were $20,074,000, up from $18,456,000 a year earlier, and net income rose to $4,814,000 from $3,638,000. Basic and diluted earnings per share increased to $0.33 from $0.25, supported by rate increases effective March 1, 2026, and growth in the customer base.
Revenue growth and lower income taxes, helped by IRS tangible property regulations, were partly offset by higher operating, maintenance, depreciation, and interest expenses. The company invested $9.8 million in capital projects during the quarter and $470,000 to acquire two wastewater systems, and it estimates another $38.1 million of 2026 investment, excluding acquisitions, to upgrade infrastructure and systems.
Positive
- Net income growth: Net income increased to $4,814,000 from $3,638,000 for Q1 year over year, with EPS rising to $0.33 from $0.25, indicating materially stronger profitability.
- Capital investment program: The company invested $9.8 million in Q1 2026 and plans an additional $38.1 million in 2026 (excluding acquisitions) to extend mains, upgrade systems, and improve infrastructure.
Negative
- None.
Insights
York Water posts solid Q1 profit growth and steps up capital investment.
The York Water Company delivered Q1 2026 net income of $4.814M, up from $3.638M, with earnings per share rising to $0.33. Revenue reached $20.074M, driven mainly by rate increases effective March 1, 2026 and customer growth.
Lower income taxes from IRS tangible property regulations supported results, while higher operation, maintenance, depreciation, and interest costs weighed on profitability. The utility invested $9.8M in capital projects and $470,000 in two wastewater acquisitions, and it plans another $38.1M of 2026 investment to expand and upgrade infrastructure.
This pattern shows a regulated utility using new rates and tax benefits to fund increased capital spending. Subsequent quarterly results for 2026 will indicate how these investments translate into earnings and rate base growth under regulatory oversight.
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.
Key Figures
Operating revenues Q1 2026: $20,074,000
Operating revenues Q1 2025: $18,456,000
Net income Q1 2026: $4,814,000
+5 more
8 metrics
Operating revenues Q1 2026
$20,074,000
Three months ended March 31, 2026
Operating revenues Q1 2025
$18,456,000
Three months ended March 31, 2025
Net income Q1 2026
$4,814,000
Three months ended March 31, 2026
Net income Q1 2025
$3,638,000
Three months ended March 31, 2025
EPS Q1 2026
$0.33 per share
Basic and diluted earnings per common share
EPS Q1 2025
$0.25 per share
Basic and diluted earnings per common share
Q1 2026 capital projects
$9.8 million
Invested in main extensions, software upgrade, infrastructure
Planned 2026 investment
$38.1 million
Estimated 2026 spend excluding acquisitions
Key Terms
Distribution System Improvement Charge, DSIC, tangible property regulations, capital projects, +1 more
5 terms
Distribution System Improvement Charge financial
"partially offset by a reset to zero of the Distribution System Improvement Charge (DSIC)"
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.
DSIC regulatory
"The DSIC is a Pennsylvania Public Utility Commission allowed charge that water utilities collect"
tangible property regulations financial
"Income taxes decreased due to higher deductions from the IRS tangible property regulations"
Rules that determine how physical assets—like buildings, machinery, equipment, and inventory—must be treated for accounting and tax purposes, including what costs can be deducted immediately versus added to an asset’s value and depreciated over time. Investors care because these rules affect a company’s reported profits, tax bills, and cash flow: like deciding whether a house repair is an everyday fix or a major renovation, the classification changes short‑term expenses and long‑term asset values.
capital projects financial
"the Company invested $9.8 million in capital projects for main extensions and an upgrade"
Large, long-term investments a company makes to build, expand, or upgrade physical assets such as factories, equipment, buildings, or infrastructure; they typically involve planning, construction and significant upfront spending funded from cash, borrowing or equity. For investors they matter because these projects shape future revenue, costs and cash flow—like planting an orchard that takes years and money before it yields fruit—so delays, cost overruns or better-than-expected results can materially change a company’s value.
forward-looking statements regulatory
"This news release may contain forward-looking statements regarding the Company’s operational and financial expectations"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Earnings Snapshot
Operating revenues: $20,074,000
Q1 2026
Operating revenues
$20,074,000
+9% YoY
Net income
$4,814,000
+32% YoY
EPS
$0.33
+32% YoY
Dividends per share
$0.2280
+4% YoY
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: May 5, 2026
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
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(I.R.S. Employer
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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 May 5, 2026, The York Water Company issued a press release announcing its first quarter 2026 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, May 5, 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: May 5, 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
-OR-
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 THREE MONTHS EARNINGS
York, Pennsylvania, May 5, 2026: The York Water
Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the first quarter of 2026.
President Hand reported that first quarter operating revenues of $20,074,000 increased $1,618,000, and net income of $4,814,000 increased $1,176,000
compared to the first quarter of 2025. Basic and Diluted Earnings per share of $0.33 for the three-month period increased $0.08 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. 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, depreciation, and interest on debt.
During the first three months of 2026, the Company invested $9.8 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. 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 $38.1 million in 2026, excluding acquisitions, for additional main extensions, a continuing upgrade to the enterprise software system, and routine improvements
to its pipes, service lines, and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.
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Three Months Ended
March 31
In 000's (except per share)
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2026
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2025
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Operating Revenues
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$
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20,074
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$
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18,456
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Net Income
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$
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4,814
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$
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3,638
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Average Number of Common Shares Outstanding
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14,438
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14,381
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Basic and Diluted Earnings per Common Share
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$
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0.33
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$
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0.25
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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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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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FAQ
How did York Water (YORW) perform financially in Q1 2026?
York Water reported higher Q1 2026 results, with operating revenues of $20.074 million and net income of $4.814 million. Earnings per share rose to $0.33, reflecting stronger profitability compared to the same period in 2025.
What revenue growth did York Water (YORW) report for Q1 2026?
York Water’s Q1 2026 operating revenues were $20.074 million, up from $18.456 million in Q1 2025. Growth was primarily driven by rate increases effective March 1, 2026, along with expansion of the customer base.
What dividends did York Water (YORW) declare in Q1 2026?
For Q1 2026, York Water declared dividends of $0.2280 per common share, up from $0.2192 in Q1 2025. The higher dividend reflects the company’s continued practice of returning cash to shareholders alongside growing earnings.
How much is York Water (YORW) investing in its infrastructure in 2026?
During the first three months of 2026, York Water invested $9.8 million in capital projects and $470,000 in two wastewater acquisitions. It estimates an additional $38.1 million of 2026 investment, excluding acquisitions, for main extensions, system upgrades, and infrastructure improvements.
What acquisitions did York Water (YORW) complete in early 2026?
York Water invested $470,000 to acquire two wastewater systems: CMV Sewage Co. in York County and the Pine Run Retirement Community in Adams County. These additions expand the company’s wastewater service footprint alongside its existing water operations.