Essential Utilities Full Year 2023 Earnings: Revenues Disappoint
Essential Utilities (NYSE:WTRG) Full Year 2023 Results
Key Financial Results
Revenue: US$2.05b (down 10% from FY 2022).
Net income: US$498.2m (up 7.1% from FY 2022).
Profit margin: 24% (up from 20% in FY 2022). The increase in margin was driven by lower expenses.
EPS: US$1.87 (up from US$1.77 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Essential Utilities Revenues Disappoint
Revenue missed analyst estimates by 11%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Water Utilities industry in the US.
Performance of the American Water Utilities industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You still need to take note of risks, for example - Essential Utilities has 3 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.
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