Essential Utilities, Inc. (NYSE: WTRG) reported Q4 EPS of $0.34, versus $0.31 reported last year. Revenue for the quarter came in at $226 million, versus $205.7 million reported last year.

“2019 marked a historic year for the company with record capital spending of $550 million on infrastructure improvements, our announcement of an agreement with Delaware County Regional Water Quality Control Authority (DELCORA), which represents the largest municipal acquisition in our history, receiving Kentucky and West Virginia regulatory approval of the Peoples transaction, and completing Pennsylvania’s rate proceeding to begin recovery of our infrastructure investment,” said Essential Chairman and CEO Christopher Franklin. “These accomplishments and the introduction of our new company name, Essential, have positioned us to play an important role in solving today’s infrastructure challenges and support our mission of delivering safe and reliable natural resources that are essential to everyday life.”

GUIDANCE:

Essential Utilities, Inc. sees FY2020 EPS of $1.53-$1.58.

The following is the 2020 full-year guidance:

• Adjusted pro-forma income per diluted common share (non-GAAP) of $1.53 to $1.58. This illustrative guidance includes the full-year effects of the Peoples acquisition as if this transaction closed on January 1, 2020, by including an estimate of the results of Peoples for the period in 2020 prior to closing, excluding transaction-related expenses and the effects of transaction-related commitments to issue rate credits to utility customers.
• 3-year earnings growth CAGR 5-7% for 2019 through 2022, such that base is 2019 adjusted income per share (non-GAAP)
• Infrastructure investments of approximately $550 million in 2020 for communities served by the water operations
• Infrastructure investments of approximately $400 million in 2020 for communities served by the gas operations (assumes closing on March 16, 2020)
• Infrastructure investments of approximately $2.8 billion through 2022 in existing water and gas operations to rehabilitate and strengthen systems
• Rate base compound annual growth rate of 6 to 7 percent through 2022 in water; and 8 to 10 percent in gas through 2022
• Total annual water customer growth of between 2 and 3 percent on average, depending upon regulatory approval
• Closing of Peoples acquisition expected to occur on March 16, 2020

For earnings history and earnings-related data on Essential Utilities, Inc. (WTRG) click here.