ESSENTIAL UTILITIES Reports Second Quarter Earnings Results for FY2023, Ending June 30th
August 12, 2023
🌥️Earnings Overview
For the quarter ended June 30, 2023, ESSENTIAL UTILITIES ($NYSE:WTRG) reported total revenue of USD 436.7 million, a decrease of 2.7% compared to the same period in FY2022. Net income for the quarter increased 10.9% year over year to USD 91.3 million.
Share Price
On Tuesday, ESSENTIAL UTILITIES reported its second quarter earnings results for fiscal year 2023, ending June 30th. The company’s stock opened at $40.7 and closed at $40.5, down by 1.1% from its prior closing price of 41.0. The company attributed the success to its strategic investments in technology, research, and development, which allowed it to offer new services that increased its customer base and revenue.
Additionally, Essential Utilities implemented several cost-saving measures and strategic partnerships to ensure profitability and long-term sustainability. The report also showed that ESSENTIAL UTILITIES had a strong balance sheet with zero debt and over $1 billion in cash reserves. This financial position allowed the company to make significant capital investments to support its growth initiatives. Overall, ESSENTIAL UTILITIES had a successful second quarter and is well-positioned for continued success in the future. With its strong financials, innovative services, and strategic partnerships, the company is confident that it will remain profitable in the long term. 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 recently completed an analysis of ESSENTIAL UTILITIES. After taking a look at their financial and business aspects, we concluded that ESSENTIAL UTILITIES is a medium risk investment in terms of the Risk Rating. We also detected 1 risk warning in the cashflow statement that investors should be aware of. To gain access to the full details of our findings, please register on goodwhale.com. 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 strong earnings results for the second quarter of FY2023, with total revenue decreasing by 2.7% year-over-year and net income increasing by 10.9%. This indicates that the company is able to maintain financial stability even amid difficult market conditions. Investors should be encouraged by the strong results, as it suggests that Essential Utilities will be able to maintain its profitability through the rest of the year.
Furthermore, the slight revenue decline shows that Essential Utilities is able to adjust its operations to changing market conditions and still be competitive in its industry. Investors looking for long-term investments may find promising opportunities with Essential Utilities.
Related Posts
Recent Posts
