The York Water Company (YORW) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 was $5,052, up 1.2% year-over-year, driven by higher revenues and lower income taxes, partially offset by increased expenses and interest on debt.

• Operating revenues rose 2.4% to $19,199 for Q2 2025, mainly due to customer growth and higher DSIC revenues.

• For the first six months of 2025, net income was $8,690, down 6.8% year-over-year, as higher expenses and interest offset revenue gains.

• Customer base expanded, with water customers up by 1,155 and wastewater customers up by 518 year-over-year in Q2 2025.

• Capital investments remain robust, with $22.2M spent and $23.8M more planned in 2025.

Financial highlights

• Q2 2025 operating revenues: $19,199 (up from $18,750 in Q2 2024); six-month revenues: $37,655 (up from $36,378 in 2024).

• Q2 2025 net income: $5,052 (vs. $4,993 in Q2 2024); six-month net income: $8,690 (vs. $9,320 in 2024).

• Q2 2025 EPS: $0.35 (unchanged year-over-year); six-month EPS: $0.60 (down from $0.65 in 2024).

• Dividends per share increased to $0.2192 for the quarter and $0.4384 for six months.

• Net income impacted by higher O&M expenses, depreciation, interest on debt, and lower AFUDC.

Outlook and guidance

• Modest revenue growth expected for the remainder of 2025, driven by DSIC, higher summer demand, and customer growth.

• Operating expenses, especially depreciation and water treatment, are expected to rise due to ongoing investments and inflation.

• Interest expense projected to increase as long-term debt rises.

• Construction expenditures for the rest of 2025 estimated at $23,800, funded mainly by internal cash, credit lines, and customer contributions.

• Plans include main extensions, wastewater plant construction, and software upgrades.