Essential Utilities Inc Battles Headwinds with Unprecedented Revenue Decline

Strategies in Place to Navigate the Tough Business Landscape and Revitalize Growth

Published / Modified May 10 2024
Goran Soko / CSIMarket.com

Essential Utilities Inc.
(NYSE: WTRG) is preparing to release its financial results for the quarter ended March 31, 2024.
Analysts expect positive news as the company experienced significant growth in various financial metrics.

EPS growth has reached an impressive 34.72% at $0.97 per share compared to the corresponding period a year ago.
This increase reflects a higher income growth rate.
Additionally, revenue showed improvement, albeit a negative growth rate of -15.745%, amounting to $612.07 million.
The prior quarter also demonstrated positive results, with EPS soaring by 99.31% from $0.49 per share and revenue improving by 27.669% from $479.42 million.

Net earnings for the financial period ending March 31, 2024, amounted to $265.772 million, reflecting a robust 38.83% increase compared to the previous financial period.
Essential Utilities Inc.
attributes this growth to its improving profit margins.
The net margin saw a rise to 43.42%, while the operating margin edged up to 37.69%. Operating earnings, however, experienced more modest growth, increasing by 2.3% to $230.666 million.

Looking ahead, Essential Utilities Inc.
will be hosting a conference call with financial analysts on May 3, 2024, at 11 a.m.
Eastern Daylight Time to discuss its earnings report.
The call and accompanying presentation will be available via a live webcast on the company's website, Essential.co, under the Investors section.

In other news, Essential Utilities Inc.
recently declared a dividend for June 2024.
The quarterly cash dividend of $0.3071 per share represents a significant increase of 7% compared to the dividend paid in June 2023.
This move reflects the company's strong financial performance and commitment to delivering value to its shareholders.
Essential Utilities Inc.
has a long-standing tradition of paying consecutive quarterly cash dividends for an impressive 79 years, and this will be the 33rd time the dividend has been raised.

Investors have responded positively to these updates, with shares of Essential Utilities Inc.
improving by 4.86% over the past 30 days and 3.59% during the past five trading days.
The company's stock is currently trading on the NYSE about 1.3% above its 52-week average.

In conclusion, Essential Utilities Inc.
is expected to report strong financial results for the quarter ended March 31, 2024.
The company has demonstrated significant growth in EPS, revenue, and net earnings, while also emphasizing its improving profit margins.
This positive news has been reflected in the company's recent dividend declaration and the upward movement of its stock on the NYSE.

Essential Utilities Inc's ROA

Essential Utilities Inc's Free Cash Flow Margin

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