Yahoo Finance Essential Utilities First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Essential Utilities (NYSE:WTRG) First Quarter 2024 Results
Key Financial Results
Revenue: US$612.1m (down 16% from 1Q 2023).
Net income: US$265.8m (up 39% from 1Q 2023).
Profit margin: 43% (up from 26% in 1Q 2023).
EPS: US$0.97 (up from US$0.72 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Essential Utilities EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates by 25%.
Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Water Utilities industry in the US.
Performance of the American Water Utilities industry.
The company's shares are up 2.9% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 4 warning signs with Essential Utilities (at least 1 which makes us a bit uncomfortable), and understanding these should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
