The following is a summary of the Essential Utilities, Inc. (WTRG) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• Essential Utilities posted a third-quarter earnings per share of $0.25, which was above expectations.

• Revenue for Q3 2024 was $435.3 million, marking an increase of about 6% compared to the same period last year.

• Capital spending is on track, with $932.5 million invested through the end of Q3 2024; the total expected for the year is $1.3 billion to $1.4 billion.

• The company expects a net income per diluted common share for 2024 in the range of $1.96 to $2.00.

Business Progress:

• Essential Utilities successfully managed two significant Pennsylvania rate cases that will support long-term EPS growth.

• Continued investment in infrastructure is projected, with $7.8 billion planned through 2029 for water, wastewater, and natural gas segments.

• The company is actively pursuing growth through acquisitions and has seven signed asset purchase agreements across Pennsylvania, Texas, and Ohio.

• Notable resilience was shown in rapid recovery efforts from Hurricane Helene, with most systems restored in North Carolina within days.

Opportunities:

• The company's regulated water and natural gas segments continue to expand, supported by infrastructure surcharges in multiple states and pending rate cases projected at $149.2 million in revenue.

• Positive outlook for customer base growth, especially in high-growth states such as Texas and North Carolina, driven by ongoing urbanization and development projects.

Risks:

• The weather normalization mechanism provides stability against abnormal weather impacts but could pose financial risks if significant deviations in weather patterns occur.

• Legal and regulatory challenges remain, such as the appeal from the Office of the Consumer Advocate against the PNG rate case approval.

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