2023 Q3 Form 10-Q Financial Statement

#000156276223000321 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $411.3M $436.7M $448.8M
YoY Change -5.38% -2.69% 13.03%
Cost Of Revenue $16.59M $41.93M $75.14M
YoY Change -68.12% -44.2% 67.37%
Gross Profit $394.7M $394.8M $373.6M
YoY Change 3.16% 5.66% 6.1%
Gross Profit Margin 95.97% 90.4% 83.26%
Selling, General & Admin $1.039M $1.962M $1.692M
YoY Change -38.01% 15.96% 31.16%
% of Gross Profit 0.26% 0.5% 0.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $84.35M $85.66M $79.18M
YoY Change 4.82% 8.19% 8.81%
% of Gross Profit 21.37% 21.7% 21.19%
Operating Expenses $257.3M $239.5M $235.9M
YoY Change 0.21% 1.54% 5.87%
Operating Profit $137.4M $155.3M $137.7M
YoY Change 9.17% 12.72% 6.5%
Interest Expense $68.59M -$64.79M -$48.25M
YoY Change 13.39% 34.29% -192.72%
% of Operating Profit 49.92% -41.73% -35.03%
Other Income/Expense, Net $1.438M $323.0K $423.0K
YoY Change 226.08% -23.64% -78.21%
Pretax Income $76.37M $91.01M $90.39M
YoY Change 3.99% 0.68% 6.72%
Income Tax -$3.711M -$263.0K $8.100M
% Of Pretax Income -4.86% -0.29% 8.96%
Net Earnings $80.08M $91.27M $82.29M
YoY Change 16.66% 10.91% 1.7%
Net Earnings / Revenue 19.47% 20.9% 18.34%
Basic Earnings Per Share $0.30 $0.35 $0.31
Diluted Earnings Per Share $0.30 $0.34 $313.4K
COMMON SHARES
Basic Shares Outstanding 264.5M 264.4M 253.7M
Diluted Shares Outstanding 267.2M 264.8M 262.6M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.505M $11.64M $12.98M
YoY Change -63.6% -10.28% 54.4%
Cash & Equivalents $8.505M $11.64M $12.98M
Short-Term Investments
Other Short-Term Assets $139.7M $136.6M $128.3M
YoY Change -74.2% 6.46% 23.63%
Inventory $127.4M $108.5M $128.6M
Prepaid Expenses
Receivables $133.7M $149.9M $143.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $409.3M $406.7M $413.3M
YoY Change -24.38% -1.59% 35.63%
LONG-TERM ASSETS
Property, Plant & Equipment $11.85B $11.63B $10.64B
YoY Change 8.93% 9.33% 9.58%
Goodwill $2.341B $2.341B
YoY Change -0.01%
Intangibles $3.672M $4.221M
YoY Change -23.42%
Long-Term Investments
YoY Change
Other Assets $1.795B $1.720B $1.650B
YoY Change -53.54% 4.28% 8.73%
Total Long-Term Assets $16.02B $15.70B $14.63B
YoY Change 8.72% 7.26% 7.36%
TOTAL ASSETS
Total Short-Term Assets $409.3M $406.7M $413.3M
Total Long-Term Assets $16.02B $15.70B $14.63B
Total Assets $16.43B $16.10B $15.05B
YoY Change 7.55% 7.02% 7.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $191.9M $178.9M $194.1M
YoY Change -11.8% -7.83% 47.26%
Accrued Expenses $141.1M $181.0M $167.4M
YoY Change 0.7% 8.11% 54.89%
Deferred Revenue
YoY Change
Short-Term Debt $131.8M $48.04M $4.703M
YoY Change -38.18% 921.54% -93.45%
Long-Term Debt Due $218.6M $198.7M $120.9M
YoY Change 45.82% 64.35% 51.81%
Total Short-Term Liabilities $896.6M $765.1M $544.1M
YoY Change 5.72% 40.62% 15.98%
LONG-TERM LIABILITIES
Long-Term Debt $6.456B $6.616B $6.088B
YoY Change 4.57% 8.67% 7.78%
Other Long-Term Liabilities $24.33M $1.648B $1.561B
YoY Change -6.18% 5.54% 3001.46%
Total Long-Term Liabilities $6.480B $8.263B $7.649B
YoY Change 4.53% 8.03% 34.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $896.6M $765.1M $544.1M
Total Long-Term Liabilities $6.480B $8.263B $7.649B
Total Liabilities $7.377B $10.49B $9.704B
YoY Change 4.67% 8.07% 57.34%
SHAREHOLDERS EQUITY
Retained Earnings $1.739B $1.741B
YoY Change 10.74%
Common Stock $4.270B $3.961B
YoY Change 10.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $86.78M $87.09M
YoY Change 3.51%
Treasury Stock Shares
Shareholders Equity $5.923B $5.615B $5.342B
YoY Change
Total Liabilities & Shareholders Equity $16.43B $16.10B $15.05B
YoY Change 7.55% 7.02% 7.98%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $80.08M $91.27M $82.29M
YoY Change 16.66% 10.91% 1.7%
Depreciation, Depletion And Amortization $84.35M $85.66M $79.18M
YoY Change 4.82% 8.19% 8.81%
Cash From Operating Activities $183.1M $219.8M $105.7M
YoY Change 78.06% 107.95% -32.83%
INVESTING ACTIVITIES
Capital Expenditures $326.9M $303.9M -$241.3M
YoY Change -210.79% -225.92% 6.52%
Acquisitions
YoY Change
Other Investing Activities -$19.42M -$25.32M $542.0K
YoY Change -64.04% -4770.85% 13.87%
Cash From Investing Activities -$346.3M -$329.2M -$240.8M
YoY Change -0.79% 36.72% 6.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 160.0M 100.9M 89.76M
YoY Change -37.63% 12.39% 51.91%
NET CHANGE
Cash From Operating Activities 183.1M 219.8M 105.7M
Cash From Investing Activities -346.3M -329.2M -240.8M
Cash From Financing Activities 160.0M 100.9M 89.76M
Net Change In Cash -3.137M -8.507M -45.32M
YoY Change -130.19% -81.23% 370.98%
FREE CASH FLOW
Cash From Operating Activities $183.1M $219.8M $105.7M
Capital Expenditures $326.9M $303.9M -$241.3M
Free Cash Flow -$143.7M -$84.08M $347.0M
YoY Change -136.13% -124.23% -9.61%

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wtrg Repayments Of Advances For Construction Financing Activities
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wtrg Non Cash Customer Advances And Contributions In Aid Of Construction
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