Essential Utilities, Inc. - WTRG STOCK NEWS

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.

Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.3255 per share, payable December 2, 2024, to shareholders of record on November 12, 2024. This represents a 6.0% increase from the December 2023 dividend of $0.3071 per share. The company highlights its track record of paying consecutive quarterly cash dividends for 79 years.

Vision RNG has commenced commercial operations at its new Renewable Natural Gas (RNG) facility at the Laurel Ridge Landfill in Lily, Kentucky, in partnership with Waste Connections and Delta Gas. The facility processes about 2,250 standard cubic feet per minute of landfill gas, producing approximately 450,000 MMBtu of RNG annually, equivalent to 3.6 million gallons of gasoline. The RNG is injected into Delta Gas's pipeline network and can be used for transportation fuel, industrial applications, renewable energy production, and carbon footprint reduction. The project was completed ahead of schedule despite industry-wide challenges.

Essential Utilities (NYSE: WTRG) has been recognized as a Champion of Board Diversity by The Forum of Executive Women for the sixth time since 2017. The company is one of 46 in the Greater Philadelphia area honored for promoting gender equity. This recognition is given to companies with at least 30% women on their boards.

Christopher Franklin, chairman and CEO of Essential Utilities, expressed pride in the company's focus on diversity not only on the Board but across the entire organization. He emphasized their commitment to reflecting the diverse communities they serve and continuing to work towards greater equity and inclusion.

Essential has also previously received a '3+' status from 50/50 Women on Boards, indicating at least three board seats held by women. The Forum of Executive Women, founded in 1977, is a membership organization uniting over 600 senior female leaders to empower women's influence in the workplace throughout the region.

Essential Utilities Inc. (NYSE: WTRG) has announced its plans to report earnings for the third quarter of 2024 on November 4, 2024, after the market closes. The company will host a conference call for financial analysts on November 5, 2024, at 11 a.m. Eastern Standard Time. Investors can access the live webcast of the call and presentation on Essential.co through the Investors link. For those unable to attend live, the call will be archived in the Investor Relations section of the website. Additionally, an audio replay will be available from 2 p.m. on November 5, 2024, for seven days, accessible by dialing (800) 770-2030 (toll-free) or (609) 800-9909 with the pass code 9261648.