Essential Utilities (NYSE:WTRG) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$434.4m (flat on 2Q 2023).
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Net income: US$75.4m (down 17% from 2Q 2023).
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Profit margin: 17% (down from 21% in 2Q 2023).
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EPS: US$0.28 (down from US$0.34 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Essential Utilities Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 19%.
Looking ahead, revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Water Utilities industry in the US.
Performance of the American Water Utilities industry.
The company’s shares are down 3.0% from a week ago.
Risk Analysis
What about risks? Every company has them, and we’ve spotted 4 warning signs for Essential Utilities (of which 1 is concerning!) you should know about.
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