Essential Utilities Inc - WTRG STOCK NEWS

Essential Utilities Inc. (NYSE: WTRG) has completed the $18 million acquisition of Greenville Sanitary Authority's wastewater system in Mercer County, PA, through its subsidiary Aqua Pennsylvania. The system serves Greenville Borough, Hempfield and West Salem Townships.

The company plans to invest $20 million over the next decade in system improvements to address safety, operational, and environmental issues. These improvements will cost less than half of what the Greenville Sanitary Authority had planned to spend on addressing a Consent Order Agreement with the Pennsylvania Department of Environmental Protection, resulting in $20 million in customer savings.

This marks Essential Utilities' fourth water and wastewater acquisition in the past 12 months, adding 2,600 customers or 4,520 equivalent dwelling units. Customer base rates will remain unchanged initially, and eligible customers will gain access to Aqua's assistance programs.

Aqua Pennsylvania has secured $28.9 million in combined grant and low-interest loan funding through PENNVEST to support PFAS removal from drinking water. The funding will enable 6 projects to install PFAS treatment systems at 15 community well sites across Chester, Montgomery, Lackawanna, and Luzerne Counties.

The initiative aims to meet new EPA maximum contaminant levels for six PFAS chemicals in drinking water, set in April 2024, with a compliance deadline of 2028. The projects, expected to be completed by late 2025, will benefit nearly 12,000 customers across multiple townships including Upper Uwchlan, West Whiteland, Douglass, New Hanover, Perkiomen, Jefferson, Dallas, and Penn Lake Borough.

The company has already achieved compliance with Pennsylvania Department of Environmental Protection PFAS drinking water standards and is working toward meeting federal guidelines. The PENNVEST funding will help reduce the associated costs for customers while implementing these necessary treatment systems.

Essential Utilities has been recognized among America's Most Responsible Companies by Newsweek for the fourth consecutive year, advancing to rank 165 from 401 in 2024. The company, a major water, wastewater, and natural gas provider in the U.S., has demonstrated significant achievements in environmental and social practices through its Aqua and Peoples brands.

Key accomplishments include:

• 25% reduction in Scope 1 and 2 emissions from 2019 baseline, targeting 60% reduction by 2035
• $5 million commitment to community initiatives in 2024
• 99.8% drinking water compliance in 2024
• Replacement of over 1,000 miles of gas pipeline in Pennsylvania and Kentucky
• Nearly 100% renewable electricity usage in Pennsylvania, New Jersey, Ohio, and Illinois

The recognition by Newsweek and Statista Inc. evaluates the 600 most responsible companies from the largest 2,000 U.S.-based public companies, based on ESG data and surveys of 26,000 U.S. residents.

Essential Utilities (NYSE: WTRG) has announced it will release its full year 2024 financial results after market close on February 26, 2025. The company will host a conference call with financial analysts on February 27, 2025, at 11 a.m. Eastern Standard Time. The presentation and call will be accessible via webcast on Essential.co in the Investors section. A replay of the call will be available starting at 2 p.m. on February 27, 2025, for seven days, accessible by dialing (800) 770-2030 toll-free or (609) 800-9909 with pass code 9261648.

Essential Utilities (NYSE: WTRG) commemorates the 50th anniversary of the Safe Drinking Water Act by reinforcing its commitment to water quality protection. Through its water utility, Aqua, the company is focusing on two major initiatives: combating PFAS contamination and replacing lead service lines.

The company has announced significant capital investments, including $765 million in improvements for 2024 and over $800 million planned for 2025. These investments specifically allocate $89 million for PFAS mitigation and $44 million for lead service line investigation and replacement.

Essential Utilities is implementing these measures ahead of federal mandates, demonstrating its proactive approach to water quality management and infrastructure modernization across its eight-state operational footprint.

Essential Utilities (NYSE: WTRG) announced total contributions of $770,000 during its 2024-2025 United Way campaign, including $385,000 in matching gifts from the Essential Foundation. The campaign saw participation from approximately 2,000 employees across its 9-state footprint, achieving a 61% average participation rate, with Aqua Ohio and Aqua Indiana exceeding 80%. Since 2020, Aqua and Peoples have raised over $3.9 million through United Way partnerships.

The company ranked in the top three percent among over 250 companies in Philadelphia region workplace campaigns. Employee contributions supported various initiatives including health services, education, housing, hunger relief, environment, and animal welfare.

Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.3255 per share, payable on March 3, 2025, to shareholders of record as of February 10, 2025. This represents a 6.0% increase ($0.0184) compared to the March 2025 dividend payment of $0.3071 per share. The company has maintained a consistent track record of paying consecutive quarterly cash dividends for 79 years.

Aqua Pennsylvania announces its Customer Assistance Program (CAP) offering monthly discounts on water and wastewater bills for qualifying customers. The year-round program, administered through the Dollar Energy Fund, provides financial assistance based on household size and income levels. For example, a single-person household with gross monthly income of $2,510 or annual income of $30,120 may qualify. The program scales up to eight-person households earning $8,786.67 monthly or $105,440 annually, with additional allowances for larger families.

Essential Utilities (NYSE: WTRG) reported Q3 2024 net income of $69.4 million, or $0.25 per share, compared to $80.1 million ($0.30/share) in Q3 2023. Revenues increased 6% to $435.3 million. The company reinstated its multi-year earnings guidance, projecting 5-7% EPS growth through 2027. Notable developments include PUC approval of the Peoples Natural Gas rate case with a $93 million revenue increase and a settlement reached for Aqua Pennsylvania's rate case. The company plans to invest nearly $8 billion in infrastructure over the next five years and maintains its commitment to reducing greenhouse gas emissions by 60% by 2035.