$WTRG
Essential Utilities, Inc.

2022 Q4 Form 10-Q Financial Statement

#000156276222000452 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $705.4M $434.6M
YoY Change 31.68% 20.11%
Cost Of Revenue $247.1M $52.04M
YoY Change 79.42% 104.18%
Gross Profit $458.3M $382.6M
YoY Change 15.16% 13.74%
Gross Profit Margin 64.97% 88.03%
Selling, General & Admin $2.932M $1.676M
YoY Change -0.07% 30.43%
% of Gross Profit 0.64% 0.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.93M $80.47M
YoY Change 6.02% 10.83%
% of Gross Profit 17.66% 21.03%
Operating Expenses $288.3M $256.7M
YoY Change 11.59% 9.28%
Operating Profit $170.0M $125.9M
YoY Change 21.77% 24.06%
Interest Expense -$62.18M $60.49M
YoY Change 38.76% 16.03%
% of Operating Profit -36.58% 48.06%
Other Income/Expense, Net -$3.060M $441.0K
YoY Change -310.31% -110.97%
Pretax Income $104.9M $73.44M
YoY Change 8.66% 40.5%
Income Tax -$1.568M $4.797M
% Of Pretax Income -1.49% 6.53%
Net Earnings $114.9M $68.64M
YoY Change -1.35% 35.91%
Net Earnings / Revenue 16.29% 15.79%
Basic Earnings Per Share $0.26
Diluted Earnings Per Share $0.43 $0.26
COMMON SHARES
Basic Shares Outstanding 262.3M 262.2M
Diluted Shares Outstanding 262.8M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.40M $23.37M
YoY Change 7.86% 140.0%
Cash & Equivalents $11.40M $23.37M
Short-Term Investments
Other Short-Term Assets $240.7M $541.3M
YoY Change 36.26% 348.29%
Inventory $199.7M $229.7M
Prepaid Expenses
Receivables $206.3M $119.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $658.2M $541.3M
YoY Change 50.33% 53.56%
LONG-TERM ASSETS
Property, Plant & Equipment $11.13B $10.88B
YoY Change 8.57% 9.23%
Goodwill $2.341B $2.341B
YoY Change 0.0% 0.0%
Intangibles $4.604M $4.795M
YoY Change -20.12% -19.48%
Long-Term Investments
YoY Change
Other Assets $1.543B $3.863B
YoY Change -1.92% 153.29%
Total Long-Term Assets $15.06B $14.74B
YoY Change 5.91% 6.15%
TOTAL ASSETS
Total Short-Term Assets $658.2M $541.3M
Total Long-Term Assets $15.06B $14.74B
Total Assets $15.72B $15.28B
YoY Change 7.24% 7.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $238.8M $217.6M
YoY Change 23.8% 32.81%
Accrued Expenses $130.7M $140.1M
YoY Change 5.26% 23.66%
Deferred Revenue
YoY Change
Short-Term Debt $228.5M $213.2M
YoY Change 251.54% 357.76%
Long-Term Debt Due $199.4M $149.9M
YoY Change 50.86% 136.41%
Total Short-Term Liabilities $1.022B $848.1M
YoY Change 51.37% 64.35%
LONG-TERM LIABILITIES
Long-Term Debt $6.371B $6.174B
YoY Change 10.24% 10.27%
Other Long-Term Liabilities $28.56M $25.93M
YoY Change -34.59% -49.01%
Total Long-Term Liabilities $6.400B $6.200B
YoY Change 9.9% 9.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.022B $848.1M
Total Long-Term Liabilities $6.400B $6.200B
Total Liabilities $7.421B $7.048B
YoY Change 14.21% 14.31%
SHAREHOLDERS EQUITY
Retained Earnings $1.534B $1.571B
YoY Change 6.98% 13.35%
Common Stock $3.927B $3.856B
YoY Change 2.42% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.69M $83.84M
YoY Change 0.09% -0.02%
Treasury Stock Shares $3.236M $3.239M
Shareholders Equity $5.377B $5.343B
YoY Change
Total Liabilities & Shareholders Equity $15.72B $15.28B
YoY Change 7.24% 7.33%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $114.9M $68.64M
YoY Change -1.35% 35.91%
Depreciation, Depletion And Amortization $80.93M $80.47M
YoY Change 6.02% 10.83%
Cash From Operating Activities $81.15M $102.9M
YoY Change -2.03% -30.96%
INVESTING ACTIVITIES
Capital Expenditures $343.1M -$295.0M
YoY Change -199.54% 8.76%
Acquisitions
YoY Change
Other Investing Activities -$12.16M -$54.01M
YoY Change 2265.37% 50.87%
Cash From Investing Activities -$355.2M -$349.1M
YoY Change 2.91% 13.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 262.1M 256.6M
YoY Change -0.41% 60.93%
NET CHANGE
Cash From Operating Activities 81.15M 102.9M
Cash From Investing Activities -355.2M -349.1M
Cash From Financing Activities 262.1M 256.6M
Net Change In Cash -11.97M 10.39M
YoY Change -1540.19% 680.03%
FREE CASH FLOW
Cash From Operating Activities $81.15M $102.9M
Capital Expenditures $343.1M -$295.0M
Free Cash Flow -$261.9M $397.9M
YoY Change -161.27% -5.32%

Facts In Submission

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dei Entity Central Index Key
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dei Entity Current Reporting Status
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dei Entity Registrant Name
EntityRegistrantName
ESSENTIAL UTILITIES, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
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762 W. Lancaster Avenue
dei Entity Address City Or Town
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dei Security12b Title
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dei Trading Symbol
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dei Security Exchange Name
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
259437000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
262641000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
256763000
wtrg Average Common Shares Outstanding Included In Computation
AverageCommonSharesOutstandingIncludedInComputation
3920087
CY2021Q3 wtrg Average Common Shares Outstanding Included In Computation
AverageCommonSharesOutstandingIncludedInComputation
9022040
wtrg Average Common Shares Outstanding Included In Computation
AverageCommonSharesOutstandingIncludedInComputation
9067879
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
81729000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
81729000
wtrg Performance Period Specified In Grant
PerformancePeriodSpecifiedInGrant
P3Y
CY2021Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
21058000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
20390000
CY2022Q3 us-gaap Servicing Asset Measurement Input
ServicingAssetMeasurementInput
5.58
CY2021Q4 us-gaap Servicing Asset Measurement Input
ServicingAssetMeasurementInput
2.91
CY2022Q3 us-gaap Defined Benefit Plan Settlements Plan Assets
DefinedBenefitPlanSettlementsPlanAssets
2300000
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
428923000
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
391945000
us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
354896000
CY2022Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
22625000
CY2021Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
21058000
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
67352000
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
63219000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
12
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q3 us-gaap Revenues
Revenues
434618000
CY2021Q3 us-gaap Revenues
Revenues
361860000
CY2022Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
151361000
CY2021Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
139355000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
125861000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
101452000
CY2022Q3 wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
58978000
CY2021Q3 wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
51567000
CY2022Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
5812000
CY2021Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
6082000
CY2022Q3 wtrg Non Operating Income Expense Other
NonOperatingIncomeExpenseOther
740000
CY2021Q3 wtrg Non Operating Income Expense Other
NonOperatingIncomeExpenseOther
-3699000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
73435000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
52268000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4797000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1765000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
68638000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
50503000
us-gaap Revenues
Revenues
1582649000
us-gaap Revenues
Revenues
1342457000
us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
202538000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
240252000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
221623000
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
67352000
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
63219000
us-gaap Operating Income Loss
OperatingIncomeLoss
491226000
us-gaap Operating Income Loss
OperatingIncomeLoss
463132000
wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
166402000
wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
153647000
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
17802000
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
13922000
wtrg Non Operating Income Expense Other
NonOperatingIncomeExpenseOther
3343000
wtrg Non Operating Income Expense Other
NonOperatingIncomeExpenseOther
2016000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
345969000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
325423000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4336000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10317000
us-gaap Net Income Loss
NetIncomeLoss
350305000
us-gaap Net Income Loss
NetIncomeLoss
315106000
us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
719688000
us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
675845000
CY2022Q3 us-gaap Assets
Assets
15279792000
CY2021Q4 us-gaap Assets
Assets
14658278000
CY2022Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
20395000
CY2022Q3 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
2131000
CY2022Q3 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2327000
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.065
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.013
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.034
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.032
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022Q3 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
232361000
CY2020Q1 us-gaap Regulatory Liabilities
RegulatoryLiabilities
160655000
CY2022Q3 us-gaap Regulatory Liabilities
RegulatoryLiabilities
13808000

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