Welcome to our dedicated page for York Water Co news (Ticker: YORW), a resource for investors and traders seeking the latest updates and insights on York Water Co stock.
The York Water Company, traded on NASDAQ under the symbol YORW, is the oldest investor-owned utility in the United States, serving communities since 1816. Based in York, Pennsylvania, the company provides water and wastewater services to approximately 200,000 people across 46 municipalities in South-Central Pennsylvania. York Water's primary business revolves around the impounding, purification, and distribution of water, ensuring it meets or exceeds safe drinking water standards.
In addition to its water services, York Water operates three wastewater collection systems and two wastewater treatment systems. The company's commitment to maintaining high standards is evident from its continuous efforts to upgrade infrastructure and adopt advanced technologies for water purification and wastewater treatment.
York Water has consistently demonstrated financial stability and growth, making it an attractive option for investors. The company frequently engages in community partnerships and environmental initiatives to promote sustainable water usage and conservation practices. Investors can purchase York Water stock directly through the company's website, although they are advised to read the plan materials carefully before making any purchases.
Recent achievements include expansions in service areas, modernized treatment facilities, and enhanced customer service platforms. These projects underscore York Water's dedication to providing reliable and high-quality water services to its customers.
York Water Company (NASDAQ:YORW) reported mixed Q3 2024 results. Operating revenues increased by $948,000 to $19.7 million, driven by Distribution System Improvement charge and customer base growth. However, net income decreased by $1.7 million to $5.9 million. EPS fell to $0.41, down $0.12 year-over-year. For the nine-month period, revenues rose by $3.2 million to $56.1 million, while net income declined by $2.6 million to $15.2 million. The company invested $33 million in capital projects and $264,000 in acquisitions, expanding its service to 57 municipalities across four counties in Pennsylvania.
The York Water Company (NASDAQ:YORW) reported its financial results for Q2 and H1 2024. Q2 operating revenues decreased slightly to $18,750,000, while net income fell to $4,993,000. Basic and Diluted EPS for Q2 decreased by $0.10 to $0.35. The decline in net income was primarily due to higher expenses and lower AFUDC.
For H1 2024, operating revenues increased to $36,378,000, but net income decreased to $9,320,000. Basic and Diluted EPS for H1 fell by $0.06 to $0.65. The company invested $20.9 million in capital projects during H1 and plans to invest an additional $21.3 million in 2024 for infrastructure improvements and expansion.
The York Water Company reported strong financial results for the first quarter of 2024, with operating revenues increasing to $17,628,000 and net income rising to $4,327,000 compared to the same period in 2023. President JT Hand highlighted the revenue growth due to rate increases and an expanding customer base, offset by higher expenses. The Company also made significant investments in infrastructure improvements and completed strategic acquisitions, positioning itself for future growth.
YORK, Pa., March 7, 2023 – The York Water Company (NASDAQ:YORW) announced a strong financial performance for 2022, reporting operating revenues of $60.061 million, up $4.942 million from 2021. Net income rose $2.596 million to $19.580 million, with earnings per share increasing by $0.10 to $1.40. This growth was driven by acquisitions and the use of the Distribution System Improvement Charge (DSIC). The company plans to invest $60.6 million in 2023 and $47.1 million in 2024 for infrastructure improvements. However, higher operating expenses partially offset revenue increases.
The York Water Company (Nasdaq: YORW) announced a rate increase approved by the Pennsylvania Public Utility Commission on January 12, 2023, aimed at recovering costs from a $176 million investment in water and wastewater infrastructure improvements. This rate adjustment will impact approximately 75,000 customers in York, Adams, and Franklin Counties, resulting in a $6.57 increase in the average monthly water bill. Additionally, the rates will enable a total annual revenue increase of around $13.5 million, effective March 1, 2023.
The York Water Company (NASDAQ:YORW) reported strong financial results for Q3 and the first nine months of 2022. Q3 operating revenues reached $15.81 million, up $1.31 million year-over-year, with net income of $5.68 million increasing by $887,000. Basic earnings per share rose to $0.40. For the nine-month period, revenues reached $44.95 million, up $3.57 million, with net income of $14.57 million. The company invested $34.1 million in construction and improvements, indicating a commitment to enhancing its infrastructure.