Essential Utilities, Inc. (NYSE: WTRG) reported Q1 EPS of $0.72, $0.06 better than the analyst estimate of $0.66. Revenue for the quarter came in at $583.57 million versus the consensus estimate of $656.92 million.

“We are pleased with our strong financial results for the first quarter of the year as we mark our one-year anniversary as Essential. As we move forward in 2021, we are reminded that it is the dedication to our mission of providing essential natural resources that has allowed us to become a 135-year-old company that has been on the New York Stock Exchange for 50 years,” said Essential Chairman and Chief Executive Officer Christopher 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 continues to be 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.