|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||45.72 - 48.20|
|52 Week Range||34.56 - 51.27|
|Beta (5Y Monthly)||0.15|
|PE Ratio (TTM)||38.95|
|Earnings Date||Nov 05, 2020 - Nov 09, 2020|
|Forward Dividend & Yield||0.72 (1.50%)|
|Ex-Dividend Date||Jun 29, 2020|
|1y Target Est||N/A|
York Water (YORW) delivered earnings and revenue surprises of 14.29% and 2.46%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
YORK, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the second quarter and the first six months of 2020.President Hand reported that second quarter operating revenues of $13,320,000 increased $272,000 and net income of $4,182,000 increased $465,000 compared to the second quarter of 2019. Earnings per share of $0.32 for the three-month period increased $0.04 compared to the same period last year. Increased revenues were primarily due to higher per capita residential consumption and growth in the customer base. The increased revenue was partially offset by higher operation and maintenance expenses and depreciation. Interest expense decreased due to lower interest rates and income taxes decreased due to higher deductions from the IRS tangible property regulations.President Hand also reported that the first six months operating revenues of $26,197,000 increased $1,318,000 and net income of $8,184,000 increased $1,654,000 compared to the first six months of 2019. Increased revenues resulted primarily from the March 1, 2019 rate increase, higher per capita residential consumption, and growth in the customer base partially offset by lower Distribution System Improvement Charge (DSIC) after its reset to zero. DSIC is a Pennsylvania Public Utility Commission (PPUC) allowed charge that water utilities collect from customers for the replacement of aging infrastructure. The Company also recognized a non-recurring gain on life insurance. The increased income was partially offset by higher operation and maintenance expenses and depreciation. Interest expense decreased due to lower interest rates and income taxes decreased due to higher deductions from the IRS tangible property regulations. Earnings per share of $0.63 for the six-month period increased $0.13 compared to the same period last year.During the first six months of 2020, the Company invested $9.0 million in construction expenditures for replacement of a standpipe as well as various replacements and improvements to infrastructure. The Company estimates it will invest an additional $12.6 million in 2020, excluding acquisitions, for additional main extensions, improvements to a raw water pumping station, expansion of a wastewater treatment plant, and routine improvements to its pipes, service lines, and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base. Period Ended June 30 In 000's (except per share) Quarter Six Months 2020 2019 2020 2019 Operating Revenues$13,320$13,048$26,197$24,879 Net Income$4,182$3,717$8,184$6,530 Average Number of Common Shares Outstanding 13,022 12,956 13,016 12,949 Basic and Diluted Earnings Per Common Share$0.32$0.28$0.63$0.50 Dividends Declared Per Common Share$0.1802$0.1733$0.3604$0.3466 This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement. CONTACT: Contact: JT Hand, President and CEO email@example.com, 717-718-7554 or Matthew E. Poff, Chief Financial Officer firstname.lastname@example.org, 717-718-7549 Phone:717-845-3601
York Water (YORW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.