Essential Utilities, Inc. - WTRG STOCK NEWS

Essential Utilities Inc. (NYSE: WTRG) is set to announce its earnings for the quarter ending March 31, 2021, after market close on May 5, 2021. A conference call for financial analysts is scheduled for May 6, 2021, at 11 a.m. EDT, which will also be available via live webcast. Essential Utilities serves approximately 5 million people across 10 states, under Aqua and Peoples brands, emphasizing its commitment to infrastructure investment and operational efficiency.

Essential Utilities reported strong financial results for 2020, with total operating revenues rising by 64.4% to $1.46 billion, primarily due to the Peoples acquisition. Net income increased by 26.9% to $284.8 million, or $1.12 per share. For Q4 2020, revenues soared 109.7% to $474.0 million, while adjusted net income was $116.2 million. The company plans significant infrastructure investments totaling $3 billion through 2023 and is focused on reducing greenhouse gas emissions by 60% by 2035.

Aqua Pennsylvania's Bristol Water Treatment Plant has received the prestigious Phase III Directors Award from the Partnership for Safe Water, recognizing its commitment to optimizing water quality. This award is achieved through rigorous self-assessment and peer review, evaluating treatment plant operations and developing action plans for improvement. The Bristol plant is among a select group honored by the Partnership and American Water Works Association. This accolade underscores Aqua's dedication to excellence, with all 11 surface water treatment plants in Pennsylvania participating in this initiative.

Essential Utilities (NYSE:WTRG) announced an asset purchase agreement to acquire Willistown Township's wastewater assets for $17.5 million, pending regulatory approval. The acquisition covers 30 miles of pipeline and a small treatment plant serving approximately 2,300 customers. This marks the second such agreement in a month for Essential, following a similar deal with East Whiteland Township. The company currently has six pending acquisitions worth $438 million, aiming to enhance operational efficiency and expand its service footprint in Pennsylvania.

The board of Essential Utilities declared a quarterly cash dividend of $0.2507 per share, payable on March 1, 2021, to shareholders of record by February 12, 2021. This marks the company's 76th consecutive quarter of dividend payments, with 30 increases in the last 29 years. Essential Utilities serves approximately 5 million customers across 10 states, focusing on operational efficiency and environmental stewardship in delivering essential water and natural gas services.

Essential Utilities (NYSE: WTRG) will report its earnings for Q4 2020 and full year results on Feb. 24, 2021, after market close. A conference call for analysts is scheduled for Feb. 25 at 11 a.m. EST, which will be available for live listening and later replay. The company serves around 5 million customers in 10 states under the Aqua and Peoples brands, focusing on infrastructure investment and environmental stewardship.

Essential Utilities Inc. (NYSE: WTRG) announced Robert Davis as the new president of Aqua Ohio, succeeding Ed Kolodziej, who retires on Feb. 12 after 10 years. Davis previously served as Cleveland's director of public utilities, overseeing various water and power services. His extensive background in utility management positions him well to lead Aqua Ohio's operations, serving around 500,000 residents across 33 water and 5 wastewater facilities. The leadership change aims to address Ohio's infrastructure needs and enhance service quality for customers.

Essential Utilities (NYSE:WTRG) has entered into an agreement to acquire East Whiteland Township's wastewater assets for around $55 million. This acquisition, pending approval from the Pennsylvania Public Utility Commission, would benefit approximately 8,200 customers and includes a 57-mile collection system. The company plans to invest $19 million in infrastructure improvements over the next decade. This move is part of a broader strategy, as Essential currently has five pending acquisitions totaling $420 million in rate base and 225,000 customer equivalents.

Essential Utilities Inc. (NYSE: WTRG) has provided its 2021 financial guidance, emphasizing a commitment to operational excellence, environmental sustainability, and growth through municipal acquisitions. The firm plans to reduce greenhouse gas emissions by 60% by 2035, equivalent to taking 76,000 cars off the road. Essential's growth includes five signed agreements for municipal acquisitions, adding approximately $420 million in rate base and serving 225,000 customers. For 2021, the expected income per diluted share ranges from $1.64 to $1.69, with substantial infrastructure investments planned.