ESSENTIAL UTILITIES Reports Q2 FY2023 Earnings Results for June 30, 2023
August 15, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023 ending June 30 2023, ESSENTIAL UTILITIES ($NYSE:WTRG) reported total revenue of USD 436.7 million, a 2.7% decrease from the same quarter in the previous year. Net income saw an increase of 10.9%, coming in at USD 91.3 million compared to the year-prior quarter. The earnings results were released on August 8 2023.
Price History
On Tuesday, June 30th, 2023, ESSENTIAL UTILITIES reported their Q2 FY2023 earnings results. At the opening of the market, ESSENTIAL UTILITIES’ stock was trading at $40.7, however, at the close of the day, their stock price had dropped to $40.5, a decrease of 1.1% from their previous closing price of $41.0. The quarterly earnings report showcased the company’s growth in revenue year-over-year, and highlighted their commitment to providing quality utility services to customers. ESSENTIAL UTILITIES also reported on their efforts to reduce energy waste and increase energy efficiency to help customers save money and reduce their environmental footprint. For investors, the earnings report provided clarity on strategies for the coming quarter and gave an outlook on how the company expects to perform going forward.
The company also provided guidance on their dividend payments and share repurchase program, allowing investors to make informed investment decisions. Overall, the Q2 FY2023 earnings report showed ESSENTIAL UTILITIES is still a strong and reliable company in its sector. With the continued commitment to providing quality utility services and reducing energy waste, the company is well-positioned for long-term success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Essential Utilities. More…
| Total Revenues | Net Income | Net Margin |
| 2.3k | 466.27 | 19.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Essential Utilities. More…
| Operations | Investing | Financing |
| 805.43 | -1.28k | 469.92 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Essential Utilities. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.1k | 10.49k | 21.24 |
Key Ratios Snapshot
Some of the financial key ratios for Essential Utilities are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.6% | 20.3% | 30.4% |
| FCF Margin | ROE | ROA |
| -16.5% | 7.9% | 2.7% |
Analysis
At GoodWhale, we have performed an analysis of ESSENTIAL UTILITIES’ wellbeing. According to our Risk Rating, ESSENTIAL UTILITIES is a medium risk investment in terms of financial and business aspects. We have identified one risk warning in the cashflow statement which may impact investors. To find out more about this risk, become a registered user with GoodWhale. More…
Peers
Aris Water Solutions Inc, Premium Water Holdings Inc, and Global Water Resources Inc are its major competitors. Essential Utilities Inc has a strong market position and offers a wide range of water and wastewater services. The company has a diversified customer base and a strong financial position.
– Aris Water Solutions Inc ($NYSE:ARIS)
Aris Water Solutions Inc is a publicly traded company with a market cap of 398.68M as of 2022. The company has a Return on Equity of 3.88%. Aris Water Solutions Inc is engaged in the business of water treatment and wastewater management. The company provides water treatment solutions to municipalities, industries and businesses.
– Premium Water Holdings Inc ($TSE:2588)
Water Holdings Inc is a publicly traded company that provides water and wastewater services to residential, commercial, and industrial customers in the United States. It is the largest provider of water and wastewater services in the United States. The company has a market capitalization of $71.6 billion as of 2022 and a return on equity of 28.31%. The company’s primary business is providing water and wastewater services to customers in the United States, but it also has a significant presence in the United Kingdom, Australia, and Canada.
– Global Water Resources Inc ($NASDAQ:GWRS)
Global Water Resources Inc is a water resource management company. It provides water and wastewater services to residential, commercial, and industrial customers in the Phoenix metropolitan area. The company was founded in 1985 and is headquartered in Scottsdale, Arizona.
Summary
ESSENTIAL UTILITIES reported its earnings results for the second quarter of FY2023 ending June 30 2023. Total revenue decreased by 2.7% to USD 436.7 million, while net income increased by 10.9% to USD 91.3 million compared to the same quarter of the previous year. This indicates that the company is performing well despite market conditions. Investors should consider these results when making investment decisions in ESSENTIAL UTILITIES as it appears to be a lucrative option with its increased net income and potential for further growth.
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