Welcome to our dedicated page for Essential Utilities news (Ticker: WTRG), a resource for investors and traders seeking the latest updates and insights on Essential Utilities stock.
Essential Utilities, Inc. (symbol: WTRG) is a key player in the United States utility sector, providing regulated water and wastewater services. Operating through its various subsidiaries, the company serves around three million residential, commercial, industrial, and municipal customers across multiple states including Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia.
Headquartered in Bryn Mawr, Pennsylvania, Essential Utilities' history dates back to 1886, formerly known as Aqua America, Inc. The company underwent a rebranding in February 2020 to become Essential Utilities, Inc. The firm has a significant footprint in Pennsylvania, where nearly three-fourths of its water earnings are generated, primarily from suburban Philadelphia.
In addition to traditional water services, Essential Utilities provides non-utility raw water supply services to companies in the natural gas drilling industry. It also offers water and sewer line protection solutions and repair services to households through third-party agreements. Its Peoples subsidiary extends the company's reach into the natural gas sector, serving over 740,000 customers in Pennsylvania and Kentucky.
Over the years, Essential Utilities has consistently prioritized sustainable practices and infrastructure improvements. Recent projects include upgrading water treatment facilities and expanding service coverage to underserved areas. Financially, the company maintains a stable outlook supported by strong regulatory frameworks and long-term contracts.
Essential Utilities has also established several partnerships to enhance service delivery and operational efficiency. These partnerships allow the company to innovate and implement cutting-edge technologies in water treatment and distribution. Through these efforts, Essential Utilities continues to play a crucial role in ensuring access to safe and reliable water and wastewater services.
Essential Utilities Inc. (NYSE: WTRG) reported a strong first quarter of 2024 with earnings per share of $0.97 compared to $0.72 in Q1 2023. The company closed the sale of non-core energy projects, resulting in a net income of $265.8 million. Despite lower revenues, driven by warm weather impacting residential gas volumes, Essential remains focused on delivering solid results for the year.
Essential Utilities Inc. (NYSE: WTRG) welcomes Christopher Bruner and Tamara Linde to its board of directors. Bruner, an Assurance Partner at Ernst & Young, brings 36 years of experience and will chair the audit committee. Linde, the Executive Vice President and General Counsel at Public Service Enterprise Group, has over 30 years of experience in the energy industry. Both have impressive backgrounds and will contribute significantly to Essential Utilities' governance.
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