Essential Utilities, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:38 pm EST
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Essential Utilities, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 411.26 million compared to USD 434.62 million a year ago. Net income was USD 80.08 million compared to USD 68.64 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 0.26 a year ago.
For the nine months, sales was USD 1,574.41 million compared to USD 1,582.65 million a year ago. Net income was USD 362.78 million compared to USD 350.31 million a year ago. Basic earnings per share from continuing operations was USD 1.37 compared to USD 1.34 a year ago. Diluted earnings per share from continuing operations was USD 1.37 compared to USD 1.33 a year ago.
Essential Utilities, Inc. is a holding company for regulated utilities providing water, wastewater, or natural gas services. The Companyâs segments include the Regulated Water segment and the Regulated Natural Gas segment. The Regulated Water segment consists of water and wastewater regulated utility companies, which are organized by the states where the Company provides water and wastewater services. The Regulated Natural Gas segment consists of natural gas utility companies, acquired in the Peoples Gas Acquisition, for which the Company provides natural gas distribution services. It provides services across Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, and Kentucky under the Aqua and Peoples brands. The Company also operates market-based activities, conducted through its non-regulated subsidiaries, that provide utility service line protection solutions and repair services to households and gas marketing and production activities.