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

Essential Utilities

02/05/2024 23:35

* Essential Utilities Inc  WTRG.N  reported quarterly
adjusted
earnings of 97 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 72 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 77 cents per
share. Wall Street expected results to range from 67 cents to 86
cents per share.
    * Revenue fell 15.7% to $612.07 million from a year ago;
analysts
expected $750.08 million. 
    * Essential Utilities Inc's reported EPS for the quarter was
97
cents​.
    * The company reported quarterly net income of $265.77
million.
    * Essential Utilities Inc shares had risen by 0.4% this
quarter and lost 0.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6% 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," 1
"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 $42.00 
This summary was machine generated from LSEG data May 2 at 10:34
p.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
 Mar. 31 2024      0.77           0.97           Beat
 Dec. 31 2023      0.50           0.50           Met
 Sep. 30 2023      0.29           0.30           Beat
 Jun. 30 2023      0.34           0.34           Met