HighGravityDataEssential Utilities — Feb 26, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001552781-25-000041
Showing in the filing
Quarterly cash dividend declared
“$0.3255 per share”
Period
FY2025
Measure
Declared action
Source
Prose
All guidance in this release · 22
EPS for FY2025
“$2.07 - $2.11”
Multi-year earnings (compounded annual growt… for the long term
“5-7% from $1.97 (Non-GAAP)”
Quarterly cash dividend declared for FY2025
“$0.3255 per share”
Quarterly cash dividend
“$0.3255 per share of common stock”
PFAS capital projects investment for FY2025
“at least $450.0 million”
PFAS capital projects
“at least $450.0 million”
Diluted earnings per share for FY2025
“$2.07 to $2.11”
Long-term earnings per share compounded annu… for the long term
“5 to 7% from the adjusted 2024 earnings per share of $1.97 (Non-GAAP)”
Long-term earnings per share compounded annu… for the long term
“5 to 7%”
Infrastructure investment expectation for FY2025
“$1.4 to $1.5 billion”
Regulated infrastructure investments for FY2025
“$1.4 to $1.5 billion”
Regulated infrastructure investments for FY2029
“approximately $7.8 billion”
Infrastructure investment plan for FY2025
“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 (equivalent dw… for the long term
“between 2 and 3%”
Regulated natural gas customer base for FY2025
“stable”
Equity raise via ATM program for FY2027
“expects to raise equity via its ATM program”
Equity raised via ATM program for FY2025
“approximately $315 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”
Exhibit 99.1 · the passage around this item
… earlier in the release
Notably, the weather normalization mechanism in the
Pennsylvania gas business worked as intended to stabilize revenues during the fourth quarter of 2024, given the warmer than normal weather
during the period.
Dividend
On February
19, 2025 , Essential’s board of directors declared
a quarterly cash dividend of $0.3255 per
share of common stock. This dividend will be payable on June 2, 2025 ,
to shareholders of record on May 13, 2025 .
The company has paid a consecutive quarterly cash dividend for eighty years.
Rate
Activity
In 2024, the company’s regulated water
segment received rate awards or infrastructure surcharges designed to increase annual revenues in Illinois, New Jersey, Ohio, North Carolina,
Virginia, and Pennsylvania by $53.9 million, and its regulated natural gas segment received rate awards or infrastructure surcharges
to increase annual revenues in Kentucky and Pennsylvania by $93.9 million.
On February 6, 2025, the Pennsylvania PUC
voted unanimously to approve the previously announced Aqua Pennsylvania rate case settlement reached with the statutory advocates. Per
the order, Aqua Pennsylvania raised rates by $73.0 million beginning February 22, 2025.
With the conclusion of the Aqua Pennsylvania
rate case, the company has now achieved two significant regulatory outcomes in Pennsylvania, where approximately 75% of its operations
(by rate base) are located, in the past six months.
Thus far in 2025, the company’s regulated
water segment received
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.