$WTRG
Essential Utilities, Inc.

2024 Q4 Form 10-Q Financial Statement

#000156276224000258 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $435.3M
YoY Change 5.84%
Cost Of Revenue $19.10M
YoY Change 15.1%
Gross Profit $416.2M
YoY Change 5.45%
Gross Profit Margin 95.61%
Selling, General & Admin $1.539M
YoY Change 48.12%
% of Gross Profit 0.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.60M
YoY Change 9.78%
% of Gross Profit 22.25%
Operating Expenses $261.1M
YoY Change 1.48%
Operating Profit $155.1M
YoY Change 12.87%
Interest Expense -$69.86M
YoY Change -201.85%
% of Operating Profit -45.04%
Other Income/Expense, Net -$227.0K
YoY Change -115.79%
Pretax Income $85.24M
YoY Change 11.62%
Income Tax $15.84M
% Of Pretax Income 18.58%
Net Earnings $69.40M
YoY Change -13.33%
Net Earnings / Revenue 15.95%
Basic Earnings Per Share $0.25
Diluted Earnings Per Share $0.25
COMMON SHARES
Basic Shares Outstanding 274.6M 273.7M
Diluted Shares Outstanding 274.5M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.436M
YoY Change -0.81%
Cash & Equivalents $8.436M
Short-Term Investments
Other Short-Term Assets $135.5M
YoY Change -2.98%
Inventory $105.2M
Prepaid Expenses
Receivables $124.8M
Other Receivables $0.00
Total Short-Term Assets $373.9M
YoY Change -8.65%
LONG-TERM ASSETS
Property, Plant & Equipment $12.82B
YoY Change 8.18%
Goodwill $2.341B
YoY Change 0.0%
Intangibles $3.351M
YoY Change -8.74%
Long-Term Investments
YoY Change
Other Assets $1.998B
YoY Change 11.34%
Total Long-Term Assets $17.19B
YoY Change 7.28%
TOTAL ASSETS
Total Short-Term Assets $373.9M
Total Long-Term Assets $17.19B
Total Assets $17.56B
YoY Change 6.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $231.4M
YoY Change 20.59%
Accrued Expenses $141.3M
YoY Change 0.16%
Deferred Revenue
YoY Change
Short-Term Debt $143.0M
YoY Change 8.48%
Long-Term Debt Due $29.22M
YoY Change -86.64%
Total Short-Term Liabilities $683.1M
YoY Change -23.8%
LONG-TERM LIABILITIES
Long-Term Debt $7.230B
YoY Change 11.99%
Other Long-Term Liabilities $23.86M
YoY Change -1.92%
Total Long-Term Liabilities $7.254B
YoY Change 11.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $683.1M
Total Long-Term Liabilities $7.254B
Total Liabilities $7.937B
YoY Change 7.59%
SHAREHOLDERS EQUITY
Retained Earnings $1.944B
YoY Change 11.76%
Common Stock $4.325B
YoY Change 1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $87.97M
YoY Change 1.36%
Treasury Stock Shares
Shareholders Equity $6.181B
YoY Change
Total Liabilities & Shareholders Equity $17.56B
YoY Change 6.89%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $69.40M
YoY Change -13.33%
Depreciation, Depletion And Amortization $92.60M
YoY Change 9.78%
Cash From Operating Activities $196.1M
YoY Change 7.06%
INVESTING ACTIVITIES
Capital Expenditures $383.6M
YoY Change 17.36%
Acquisitions
YoY Change
Other Investing Activities -$303.0K
YoY Change -98.44%
Cash From Investing Activities -$383.9M
YoY Change 10.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 177.5M
YoY Change 10.89%
NET CHANGE
Cash From Operating Activities 196.1M
Cash From Investing Activities -383.9M
Cash From Financing Activities 177.5M
Net Change In Cash -10.38M
YoY Change 230.99%
FREE CASH FLOW
Cash From Operating Activities $196.1M
Capital Expenditures $383.6M
Free Cash Flow -$187.5M
YoY Change 30.47%

Facts In Submission

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wtrg Proceeds From Advances For Construction Financing Activities
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wtrg Repayments Of Advances For Construction Financing Activities
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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wtrg Non Cash Customer Advances And Contributions In Aid Of Construction
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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UtilitiesOperatingExpenseTaxes
71359000
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
67433000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
11
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q3 us-gaap Revenues
Revenues
435255000
CY2023Q3 us-gaap Revenues
Revenues
411255000
CY2024Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
144368000
CY2023Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
147018000
CY2024Q3 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
19095000
CY2023Q3 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
16590000
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
92601000
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
86035000
CY2024Q3 wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
75452000
CY2023Q3 wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
67648000
CY2024Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
5593000
CY2023Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
5455000
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15840000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3711000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
69402000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
80076000
us-gaap Revenues
Revenues
1481730000
us-gaap Revenues
Revenues
1574405000
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
423780000
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
418520000
us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
182498000
us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
314838000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
273051000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
255490000
wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
220505000
wtrg Interest Expense Net Of Afudc
InterestExpenseNetOfAfudc
207709000
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
15503000
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
14567000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7062000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-35611000
us-gaap Net Income Loss
NetIncomeLoss
410559000
us-gaap Net Income Loss
NetIncomeLoss
362778000
us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
932498000
us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
874491000
CY2024Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
23220000
CY2024Q3 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
647000
CY2019Q3 wtrg Number Of Individuals Commenced Legal Action Against Company
NumberOfIndividualsCommencedLegalActionAgainstCompany
2
CY2024Q3 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2295000
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.186
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.017
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.049
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.109
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
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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