The York Water Company (YORW) Q3 2025 earnings summary

Executive summary

• Q3 2025 net income increased 5.8% year-over-year to $6,201, driven by higher revenues and lower income taxes, while nine-month net income decreased 1.9% to $14,891 due to higher expenses and interest, despite revenue growth.

• Q3 operating revenues rose to $20.36 million, up $646,000 year-over-year, and nine-month revenues reached $58.02 million, up $1.92 million.

• Customer base expanded, with water customers up by 1,101 and wastewater customers up by 530 year-over-year in Q3, mainly from acquisitions.

Financial highlights

• Q3 2025 operating revenues rose 3.3% year-over-year to $20,361; nine-month revenues up 3.4% to $58,016.

• Operating expenses for Q3 increased 6.7% to $12,447; nine-month expenses up 5.7% to $36,733.

• Interest on debt for Q3 rose 16.6% to $2,615; nine-month interest up 15.4% to $7,555, reflecting higher debt levels and rates.

• Basic and diluted EPS for Q3 were $0.43, up from $0.41; nine-month EPS was $1.03, down from $1.06 year-over-year.

• Dividends declared per share were $0.2192 for Q3 and $0.6576 for the nine months, both higher than the prior year.

Outlook and guidance

• Modest revenue growth expected for the remainder of 2025 from DSIC and customer growth; regulatory actions, weather, and economic conditions may impact results.

• Depreciation and other expenses expected to rise due to continued investment and inflationary pressures.

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

• Estimated additional $10 million in capital investments for the remainder of 2025, excluding acquisitions.

• Pending rate increase requests under review, with potential impact on future revenues.