Essential Utilities Inc reports results for the quarter ended in December - Earnings Summary

Essential Utilities

23/02/2024 03:34

* Essential Utilities Inc  WTRG.N  reported quarterly
adjusted
earnings of 50 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 44 cents.  The mean expectation of
five analysts for the quarter was for earnings of 50 cents per
share. Wall Street expected results to range from 48 cents to 52
cents per share.
    * Revenue fell 32% to $479.42 million from a year ago;
analysts
expected $708.65 million. 
    * Essential Utilities Inc's reported EPS for the quarter was
50
cents​.
    * The company reported quarterly net income of $135.45
million.
    * Essential Utilities Inc shares had fallen by 2.7% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2% in
the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the water &
related
utilities peer group is also "buy"

Wall Street's median 12-month price target for Essential
Utilities Inc is $44.00 
This summary was machine generated from LSEG data February 23 at
03:33 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.50           0.50           Met
 Sep. 30 2023      0.29           0.30           Beat
 Jun. 30 2023      0.34           0.34           Met
 Mar. 31 2023      0.71           0.72           Beat