Essential Utilities, Inc. (WTRG) Misses Q3 EPS by 4c

Essential Utilities, Inc. (NYSE: WTRG) reported Q3 EPS of $0.19, $0.04 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $361.9 million versus the consensus estimate of $367.62 million.

GUIDANCE:

Essential Utilities, Inc. sees FY2021 EPS of $1.64-$1.69, versus the consensus of $1.68.

• Net income per diluted common share of $1.64 to $1.69
• Earnings per share growth CAGR of 5 to 7% for the three-year period through 2023
• Regulated infrastructure investments of approximately $1 billion in 2021, weighted towards the regulated water segment
• Infrastructure investments of approximately $3 billion through 2023 to rehabilitate and strengthen water, wastewater and natural gas systems
• Regulated water segment rate base compound annual growth rate of 6 to 7% through 2023
• Regulated natural gas segment rate base compound annual growth rate of 8 to 10% through 2023
• Average annual regulated water segment customer (or equivalent dwelling units) growth of between 2 and 3% from acquisitions and organic customer growth
• Gas customer count stable for 2021
• Reduction of Scope 1 and Scope 2 greenhouse gas emissions by 60% by 2035
• Multiyear plan to increase diverse supplier spend to 15%
• Multiyear plan to achieve 17% employees of color

For earnings history and earnings-related data on Essential Utilities, Inc. (WTRG) click here.

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