Essential Utilities Affirms FY2025 GAAP EPS Guidance of $2.07-$2.11 vs $2.10 Est

Multi-Year Financial and Growth Guidance

The company updates its previously initiated long-term earnings guidance. The company's latest expectations are the following:

• For 2025, expect to achieve GAAP earnings per share above guidance range of $2.07-$2.11 due to non-recurring benefits.
• Anticipated growth in long-term earnings per share at a compounded annual growth rate of 5 to 7% from the adjusted 2024 earnings per share of $1.97 (Non-GAAP) for the three-year period through 2027.
• In 2025, regulated infrastructure investments are expected to be $1.4 to $1.5 billion.
• Through 2029, we plan to make regulated infrastructure investments of approximately $7.8 billion.
• Through 2029, the regulated water segment rate base is expected to grow at a compounded annual growth rate of approximately 6%; this only includes acquisitions scheduled to close in 2025 and excludes DELCORA.
• Through 2029, the regulated natural gas segment rate base will grow at a compounded annual growth rate of approximately 11%.
• Through 2029, the combined regulated utility rate base is expected to grow at a compounded annual growth rate of over 8%.
• The regulated water customer base (or equivalent dwelling units) of the business is expected to grow at an average annual growth rate of between 2 and 3% from acquisitions and organic customer growth over the long term.
• The regulated natural gas customer base of the business is expected to be stable for 2025.
• Through 2027, the company expects to raise equity via its ATM program. In 2025, the company expects to raise a total of approximately $315 million in equity. To date in 2025, the company has issued approximately $210 million of equity using its ATM.
• Anticipate the reduction of Scope 1 and Scope 2 greenhouse gas emissions by 60% by 2035 from the company's 2019 baseline.
• Multiyear plan to ensure that finished water does not exceed the federal maximum contaminant level of the six EPA-regulated PFAS chemicals.