Essential Utilities, Inc. (NYSE: WTRG) reported Q1 EPS of $0.97, $0.20 better than the analyst estimate of $0.77. Revenue for the quarter came in at $612.07 million versus the consensus estimate of $759.5 million.

GUIDANCE:

Essential Utilities, Inc. sees FY2024 EPS of $1.96-$2.00, versus the consensus of $1.98.

In 2024, regulated infrastructure investments will be approximately $1.3 to $1.4 billion
Through 2028, we will make regulated infrastructure investments of approximately $7.2 billion, weighted towards the regulated water segment
Through 2028, the regulated water segment rate base will grow at a compounded annual growth rate of approximately 8%
Through 2028, the regulated natural gas segment rate base will grow at a compounded annual growth rate of approximately 10%
Through 2028, the regulated utility rate base will grow at a compounded annual growth rate of over 8%
The regulated water customer base (or equivalent dwelling units) of the business will grow at an average annual growth rate of between 2 and 3% from acquisitions and organic customer growth
The regulated natural gas customer base of the business will be stable for 2024
In 2024, approximately $250 million in equity is expected to be raised using an ATM equity program

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