Essential Utilities: Q2 Earnings Insights

Shares of Essential Utilities WTRG rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 10.34% over the past year to $0.32, which beat the estimate of $0.26.

Revenue of $397,032,000 higher by 3.27% year over year, which beat the estimate of $373,360,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Essential Utilities hasn't issued any revenue guidance for the time being.

Price Action

52-week high: $49.97

Company's 52-week low was at $38.28

Price action over last quarter: Up 7.63%

Company Overview

Essential Utilities is a Pennsylvania-based holding company for U.S. water, wastewater, and natural gas distribution utilities. The company's water business serves 3 million people in eight states. Nearly three fourths of its water earnings come from Pennsylvania, primarily suburban Philadelphia. It also has a small market-based water business that provides water and water services to third parties, notably natural gas producers. Its $4.3 billion Peoples Gas acquisition that closed in March 2020 adds 750,000 gas distribution customers in Pennsylvania, West Virginia, and Kentucky.