Essential Utilities Inc. reported net income of $283.8 million, or $1.03 per share, for the first quarter ended March 31, 2025, compared favorably to $265.8 million, or $0.97 per share, in Q1 2024. Revenues for the quarter increased 28% to $783.6 million from $612.1 million in Q1 2024, driven by regulatory recoveries, higher natural gas volumes, and purchased gas costs.
The company reaffirmed its 2025 EPS guidance range of $2.07 to $2.11 and its multi-year EPS compounded annual growth rate of 5% to 7% through 2027. Essential invested approximately $271 million in infrastructure during Q1 2025 and remains on track to invest $1.4 to $1.5 billion in 2025, with $7.8 billion planned through 2029.
Essential Utilities issued 1,627,009 shares of common stock for $63 million under its ATM program in Q1 2025, with an additional $145 million raised in April 2025. The company also established a $1.0 billion commercial paper program to reduce short-term borrowing costs.
Aqua Pennsylvania was awarded $17.3 million in PENNVEST funding for PFAS treatment and lead service line replacement. The company also acquired the Village of Midvale’s water system in Ohio for $3 million in April 2025, adding approximately 1,000 customers.
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