Essential Utilities, Inc. (NYSE: WTRG) reported Q4 EPS of $0.46, $0.01 better than the analyst estimate of $0.45. Revenue for the quarter came in at $474 million versus the consensus estimate of $558.3 million.

“2020 marks another remarkable year in our company’s history. We changed our name, acquired Peoples, reported another year of operational excellence and strong growth and invested a record amount in infrastructure,” said Essential Chairman and Chief Executive Officer Christopher Franklin. “These accomplishments during a year filled with so many challenges are what allowed us to remain strong and dedicated to our mission of providing essential natural resources to our customers.”

“As we look to 2021, I am confident that we have positioned ourselves to play a critical role in solving our country’s infrastructure challenges while recognizing our responsibility to be an industry leader in protecting our environment,” said Franklin.

GUIDANCE:

Essential Utilities, Inc. sees FY2021 EPS of $1.64-$1.69, versus the consensus of $1.67.

Essential continues to monitor the effects of the COVID-19 pandemic on its customers, employees and the business and will update guidance impacts from the pandemic in the future if needed. The following is the company’s 2021 full-year guidance:

• Net income per diluted common share of $1.64 to $1.69
• Earnings per share growth CAGR of 5 to 7% for 2020 through 2023
• Regulated water segment infrastructure investments of approximately $550 million in 2021
• Regulated natural gas segment infrastructure investments of approximately $450 million in 2021
• Infrastructure investments of approximately $3 billion through 2023 to rehabilitate and strengthen water, wastewater and natural gas systems
• Regulated water segment rate base compound annual growth rate of 6 to 7% through 2023
• Regulated natural gas segment rate base compound annual growth rate of 8 to 10% through 2023
• Average annual regulated water segment customer (or equivalent dwelling units) growth of between 2 and 3% from acquisitions and organic customer growth
• Gas customer count stable for 2021
• Reduction of Scope 1 and Scope 2 greenhouse gas emissions by 60% by 2035
• Multiyear plan to increase diverse supplier spend to 15%
• Multiyear plan to achieve 17% employees of color

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