Significant Earnings Growth
GAAP earnings per share increased by 35% compared to the same quarter last year, reaching $0.38. The company expects to achieve GAAP earnings per share above the guidance range of $2.07 to $2.11 for 2025.
Robust Revenue Increase
Revenues rose by 18.5%, largely driven by favorable rate case outcomes in Pennsylvania and increased gas volumes. Total revenue for the quarter was $514.9 million, up from $434.4 million a year ago.
Strong Operational Performance
Both Water and Gas divisions performed well, with the gas business reporting a net income of $17.5 million for the quarter.
Infrastructure Investment Plans
The company reaffirmed its capital investment plans with a target of approximately $1.4 billion in infrastructure investment for 2025, with $613 million already deployed.
Dividend Increase
The Board of Directors approved a 5.25% increase in the dividend, marking over 30 consecutive years of dividend growth.
Ongoing Community Engagement
The company was recognized as one of Greater Philadelphia's most community-minded businesses and concluded its fourth annual Essential Earth Day campaign.
PFAS Mitigation Efforts
The company has mitigated over 50 of its 300-plus sites for PFAS and signed a distribution agreement for its PFAS Guard solution, generating significant interest.