NYSE$WTRG
Essential Utilities Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Essential Utilities reported Q4 2023 financial results with a net income of $135.4 million, or $0.50 per share, compared to $114.9 million, or $0.44 per share, for the same quarter in 2022.
Essential Utilities reported a decrease in revenues for the fourth quarter of 2023. However, the company's net income and earnings per share increased compared to the same quarter in the previous year. The company also provided 2024 guidance for earnings per share and capital investments.
- Net income for Q4 2023 was $135.4 million, compared to $114.9 million for the same quarter in 2022.
- Earnings per share were $0.50 for Q4 2023, compared to $0.44 in the fourth quarter of 2022.
- Revenues for Q4 2023 were $479.4 million compared to $705.4 million in the fourth quarter of 2022.
- Operations and maintenance expenses decreased to $157.0 million for Q4 2023 compared to $184.7 million in the fourth quarter of 2022.
Headline financials
Revenue & EPS history
Essential Utilities · Revenue · Quarterly
$479M
Revenue by segment
Essential Utilities · $405M total across 2 segments · Q3 2023
- Regulated Water$311M+3.1%76.6%
- Regulated Natural Gas$94.8M-20.3%23.4%
Forward guidance
Essential Utilities initiated 2024 annual earnings per share guidance range of $1.96 to $2.00 and capital investment guidance of $7.2 billion from 2024 through 2028.
Tailwinds
- Initiating 2024 annual earnings per share guidance range of $1.96 to $2.00
- Initiating capital investment guidance of $7.2 billion from 2024 through 2028
- Company expects to invest between $1.3 to $1.4 billion in needed infrastructure investments in 2024
- Company reaffirms its commitment to substantially reduce Scope 1 and 2 greenhouse gas emissions by 2035
- Company reaffirms its commitment to providing finished water that will meet the EPA timelines and standards.
Headwinds
- Company will refrain from providing a multi-year earnings per share guidance range until the conclusion of base rate cases
- Decrease in revenues for the year were primarily due to lower purchased gas costs and unfavorable weather
- Lower regulated natural gas segment and regulated water segment volumes
- Guidance is subject to risks and uncertainties
- Essential Utilities does not guarantee future results of any kind.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.8%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+0.0%
Avg return
30 days after
43%
30 / 69 earnings
Positive
+4.9%
Q3 2024
Best reaction
-9.5%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.4% | +1.2% | -0.5% | |
| Q4 2025 | -0.2% | +0.5% | +1.1% | |
| Q3 2025 | +3.3% | +2.2% | -1.0% | |
| Q1 2025 | -4.1% | -4.7% | -6.5% | |
| Q4 2024 | +0.2% | +3.3% | +4.7% | |
| Q3 2024 | +4.9% | +3.7% | +2.4% | |
| Q2 2024 | -4.9% | -4.8% | -5.2% | |
| Q1 2024 | +1.5% | +3.9% | +1.4% | |
| Q4 2023 | -3.4% | -4.3% | +0.7% | |
| Q3 2023 | -2.2% | -6.0% | +1.5% | |
| Q2 2023 | -0.4% | -3.0% | -12.6% | |
| Q1 2023 | -1.5% | -1.3% | -3.2% | |
| Q4 2022 | -3.6% | -5.4% | -4.2% | |
| Q3 2022 | +1.1% | +5.3% | +8.8% | |
| Q2 2022 | -0.1% | -1.7% | -4.7% | |
| Q1 2022 | -5.3% | +1.7% | +4.8% | |
| Q4 2021 | +2.8% | +3.8% | +10.0% | |
| Q3 2021 | +0.4% | +1.2% | +0.3% | |
| Q2 2021 | +1.4% | -0.3% | -0.8% | |
| Q1 2021 | -1.4% | -0.4% | +0.9% | |
| Q4 2020 | -3.4% | -3.9% | -1.3% | |
| Q3 2020 | -1.5% | +2.9% | +14.8% | |
| Q2 2020 | +1.0% | +6.0% | -7.8% | |
| Q1 2020 | -3.4% | -4.3% | +8.8% | |
| Q4 2019 | -8.1% | -9.9% | -19.8% | |
| Q3 2019 | -0.9% | -2.5% | +0.4% | |
| Q2 2019 | +2.8% | +5.2% | +9.6% | |
| Q1 2019 | -1.3% | -1.9% | +2.4% | |
| Q4 2018 | -0.3% | +2.0% | +1.7% | |
| Q3 2018 | -1.0% | +0.6% | +4.0% | |
| Q2 2018 | -0.6% | +1.2% | +0.6% | |
| Q1 2018 | -3.3% | -1.8% | -4.6% | |
| Q4 2017 | -2.3% | -7.1% | -2.7% | |
| Q3 2017 | +0.0% | +1.7% | +7.3% | |
| Q2 2017 | -0.2% | +0.9% | -0.4% | |
| Q1 2017 | -3.9% | -3.1% | +0.6% | |
| Q4 2016 | +1.2% | +3.3% | +4.8% | |
| Q3 2016 | -3.0% | -5.5% | -3.5% | |
| Q2 2016 | -2.8% | -4.8% | -12.7% | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | +1.5% | — | — | |
| Q1 2015 | -2.2% | — | — | |
| Q4 2014 | -0.0% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | +1.8% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | -0.1% | — | — | |
| Q2 2013 | -5.1% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2008 | -2.4% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q4 2007 | -2.4% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q2 2011 | -9.5% | — | — | |
| Q1 2010 | +2.5% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q3 2009 | +1.3% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q2 2010 | +0.9% | — | — |
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