HighGravityDataEssential Utilities — Nov 4, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001552781-24-000578
Showing in the filing
Reduction of Scope 1 and Scope 2 greenhouse gas emissions from 2019 baseline
“60%”
Period
FY2035
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 18
Infrastructure investment plan
“nearly $8 billion”
Compounded annual EPS growth rate (multi-yea… for the long term
“5-7%”
Quarterly cash dividend
“$0.3255 per share of common stock”
Infrastructure investment plan to improve wa… for FY2025
“approximately $8.0 billion”
PFAS capital projects investment for FY2025
“at least $450.0 million”
Net income per diluted common share for FY2025
“between $2.07 to $2.11”
Regulated infrastructure investments for FY2025
“approximately $1.4 to $1.5 billion”
Regulated infrastructure investments for FY2029
“approximately $7.8 billion”
Regulated water segment rate base compounded… for FY2029
“approximately 6%”
Regulated natural gas segment rate base comp… for FY2029
“approximately 11%”
Combined regulated utility rate base compoun… for FY2029
“over 8%”
Regulated water customer base (or equivalent… for the long term
“between 2 and 3%”
Regulated natural gas customer base for FY2025
“stable”
Equity raised via multi-year ATM program for the long term
“approximately $350 million”
Reduction of Scope 1 and Scope 2 greenhouse … for FY2035
“60%”
Multiyear plan for finished water PFAS compl… for the long term
“does not exceed the federal maximum contaminant level of the six EPA-regulated PFAS chemicals”
Net income per diluted common share (2024) for FY2024
“$1.96 to $2.00”
Regulated infrastructure investments (2024) for FY2024
“approximately $1.3 to $1.4 billion”
Exhibit 99.1 · the passage around this item
… earlier in the release
· The
regulated natural gas customer base of the business will be stable for 2025.
· Through
2027, the company expects to raise equity via its multi-year ATM program. Between 2024
and 2025, the company will raise a total of approximately $350 million in equity.
· Reduction
of Scope 1 and Scope 2 greenhouse gas emissions by 60% by 2035 from the company’s
2019 baseline.
· Multiyear
plan to ensure that finished water does not exceed the federal maximum contaminant level
of the six EPA-regulated PFAS chemicals.
Essential
reaffirms its commitment to substantially reduce Scope 1 and 2 greenhouse gas emissions by 2035. The company plans to achieve
these reductions through extensive gas pipeline replacement, the purchase of renewable energy, accelerated methane leak detection
and repair, and various other planned initiatives. Essential continues to be an industry leader regarding water quality with its
commitment to test and treat for six regulated PFAS chemicals across all states served by its regulated water segment. The company
reaffirms its commitment to providing finished water that will meet the EPA timelines and standards.
2024 Guidance
Essential re-affirms the previously
announced 2024 guidance:
· In
February, and re-affirmed in August, Essential provided guidance for 2024 net income
per diluted common share to be $1.96 to $2.00. On a GAAP basis, the expectation is to
exceed this 2024 guidance as a result of the gain on sale of the energ
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.