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
Net income per diluted common share (2024)
“$1.96 to $2.00”
Period
FY2024
Measure
GAAP-tied
Source
Prose
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
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 energy plant assets,
despite the impact of warmer-than-normal weather that resulted in lower regulated natural
gas operating revenues year-to-date.
· In
2024, regulated infrastructure investments will be approximately $1.3 to $1.4 billion.
Guidance Assumptions
Essential Utilities does not guarantee
future results of any kind. Guidance is subject to risks and uncertainties, including, without limitation, those factors outlined
in the “Forward Looking Statements” of this release and the “Risk Factors” section of the company’s
annual and quarterly reports filed with the Securities and Exchange Commission. The earnings per share, infrastructure investment,
and rate base guidance include the signed municipal water and wastewater acquisitions for which the company has entered into signed
purchase agreements as of the date the guidance was announced but do not include DELCORA or other potential municipal acquisitions
from the company’s list of acquisition opportunities that currently represents over 400,000 customer equivalents. While
the company remains
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.