The York Water Company (NASDAQ:YORW) reported fourth-quarter 2017 earnings per share of 27 cents. The figure was up 17.4% from 23 cents in the year-ago quarter.
Total Revenues
Revenues of $12.35 million were up 3.9% from $11.88 million in the prior-year quarter.
Highlights of the Release
Net income was up 19.88% year over year to $3.5 million in the fourth quarter. The upside was driven by higher revenues from the utilization of the Distribution System Improvement Charge (DSIC) and lower income taxes.
The company replaced or relined nearly 42,500 feet of pipe to improve distribution system, customer service and reduce expenses related to operations and maintenance as well as depreciation.
Financial Highlights
In 2017, York Water invested $24.6 million in capital projects, made various replacements and improvements to infrastructure.
Guidance
York Water expects to invest nearly $22.6 million in 2018 and $19.8 million in 2019 for the maintenance and improvement of existing dams, pipes, storage tanks and other facilities as well as for system expansion.
Peer Releases
American Water Works Company (NYSE:AWK) posted fourth-quarter 2017 earnings per share of 69 cents, beating the Zacks Consensus Estimate of 66 cents by 4.5%.
American States Water Company (NYSE:AWR) posted fourth-quarter 2017 earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 35 cents by 2.7%.
Aqua America, Inc. (NYSE:WTR) reported fourth-quarter 2017 earnings per share of 30 cents, lagging the Zacks Consensus Estimate of 31 cents by 3.2%.
Zacks Rank
York Water carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The York Water Company (YORW): Free Stock Analysis Report
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American States Water Company (AWR): Free Stock Analysis Report
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