YORK, Pa., Aug. 02, 2024 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the second quarter and the first six months of 2024. President Hand reported that second quarter operating revenues of $18,750,000 decreased $17,000 and net income of $4,993,000 decreased $1,531,000 compared to the second quarter of 2023. Basic and Diluted Earnings per share of $0.35 for the three-month period decreased $0.10 compared to the same period last y ...

YORK, Pa., Aug. 02, 2024 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the second quarter and the first six months of 2024. President Hand reported that second quarter operating revenues of $18,750,000 decreased $17,000 and net income of $4,993,000 decreased $1,531,000 compared to the second quarter of 2023. Basic and Diluted Earnings per share of $0.35 for the three-month period decreased $0.10 compared to the same period last y ...

THE YORK WATER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 001-34245 23-1242500 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 130 East Market Street, York, Pennsylvania 17401 (Address of principal executive offices) (Zip Code) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: May 7, ...

PART I: Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited interim financial statements for The York Water Company as of March 31, 2024, and for the three-month period then ended, reflecting all normal recurring adjustments necessary for a fair presentation - The interim financial statements are unaudited and should be read in conjunction with the company's 2023 Annual Report on Form 10-K[26](index=26&type=chunk) [Balance Sheets](index=3&type=section&id=Balance%20Sheets) As of March 31, 2024, total assets increased to $602.3 million from $588.2 million at year-end 2023, driven by growth in Net Utility Plant and cash, while total stockholders' equity rose slightly to $222.9 million and long-term debt increased to $189.6 million Key Balance Sheet Items (in thousands) | Account | Mar. 31, 2024 | Dec. 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$602,287** | **$588,205** | | Net utility plant | $502,428 | $493,704 | | Cash and cash equivalents | $3,321 | $1 | | **Total Liabilities & Equity** | **$602,287** | **$588,205** | | Long-term debt | $189,613 | $180,007 | | Total common stockholders' equity | $222,931 | $221,178 | [Statements of Income](index=5&type=section&id=Statements%20of%20Income) For Q1 2024, net income increased by 18.5% to $4.3 million, driven by a 14.5% rise in operating revenues that outpaced operating expense growth, leading to diluted earnings per share of $0.30 Q1 Income Statement Highlights (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $17,628 | $15,401 | +14.5% | | Operating Income | $6,215 | $5,418 | +14.7% | | Net Income | $4,327 | $3,653 | +18.5% | | Diluted EPS | $0.30 | $0.26 | +15.4% | [Statements of Common Stockholders' Equity](index=6&type=section&id=Statements%20of%20Common%20Stockholders%27%20Equity) Total common stockholders' equity increased from $221.2 million at year-end 2023 to $222.9 million by March 31, 2024, primarily due to net income of $4.3 million, partially offset by $3.0 million in cash dividends Changes in Stockholders' Equity Q1 2024 (in thousands) | Description | Amount | | :--- | :--- | | Balance, December 31, 2023 | $221,178 | | Net income | $4,327 | | Cash dividends declared | ($3,022) | | Issuance of common stock & other | $448 | | **Balance, March 31, 2024** | **$222,931** | [Statements of Cash Flows](index=7&type=section&id=Statements%20of%20Cash%20Flows) In Q1 2024, net cash from operating activities was $6.1 million, with $8.5 million used in investing activities and $5.7 million provided by financing activities, resulting in a net cash increase of $3.3 million Q1 Cash Flow Summary (in thousands) | Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $6,138 | $6,224 | | Net cash used in investing activities | ($8,502) | ($10,581) | | Net cash provided by financing activities | $5,684 | $4,522 | | **Net change in cash and cash equivalents** | **$3,320** | **$165** | [Notes to Interim Financial Statements](index=8&type=section&id=Notes%20to%20Interim%20Financial%20Statements) The notes detail two immaterial Q1 2024 acquisitions, the issuance of $40 million in new senior notes, the impact of a March 2023 rate increase on revenues, and ongoing capital commitments for the Lake Williams dam project - In Q1 2024, the company completed two immaterial acquisitions, adding approximately **180 wastewater customers** and **90 water customers**[28](index=28&type=chunk)[29](index=29&type=chunk) - On February 27, 2024, the company issued **$40 million** of **5.67% Senior Notes** due 2054, using the proceeds to refinance line of credit borrowings[35](index=35&type=chunk) - A PPUC-authorized rate increase, effective March 1, 2023, was a primary driver of revenue growth in Q1 2024 compared to Q1 2023[58](index=58&type=chunk) - The company has a remaining commitment of approximately **$1.8 million** for the Lake Williams dam spillway project as of March 31, 2024[48](index=48&type=chunk) [Management's Discussion and Analysis (MD&A)](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, highlighting an 18.5% net income increase driven by a rate increase, outlines $33.7 million in planned capital expenditures, details liquidity strengthened by a $40 million debt issuance, and covers growth strategy and operational risks [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Net income for Q1 2024 increased by $674,000 (18.5%) to $4.3 million, primarily due to a $2.2 million (14.5%) rise in operating revenues, partially offset by a $1.4 million (14.3%) increase in operating expenses and a $610,000 rise in interest expense - Net income increased by **18.5%** in Q1 2024 compared to Q1 2023, primarily due to higher operating revenues[81](index=81&type=chunk) - Operating revenues grew **14.5%**, mainly because of a rate increase effective March 1, 2023, and growth in the water and wastewater customer base[82](index=82&type=chunk) - Operating expenses increased **14.3%**, with notable rises in distribution system maintenance (**+$365 thousand**), depreciation (**+$269 thousand**), and wages (**+$205 thousand**)[83](index=83&type=chunk) - Interest on debt increased by **40.3%** due to a larger amount of long-term debt outstanding and higher interest rates on the line of credit[84](index=84&type=chunk) [Acquisitions and Growth](index=20&type=section&id=Acquisitions%20and%20Growth) The company is actively pursuing growth through five signed agreements to acquire small water and wastewater systems, expected to add approximately 560 customers upon regulatory approval and closing between H2 2024 and H1 2025 - The company has signed **five agreements** to acquire small water and wastewater systems, which are expected to add approximately **560 new customers** upon closing[89](index=89&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk) - Closing for these acquisitions is contingent on regulatory approvals and is anticipated between **H2 2024** and **H1 2025**[90](index=90&type=chunk)[91](index=91&type=chunk)[93](index=93&type=chunk) [Capital Expenditures](index=20&type=section&id=Capital%20Expenditures) The company invested $8.5 million in capital projects during Q1 2024, with an additional $33.7 million planned for the remainder of 2024, funded by internally-generated funds, line of credit borrowings, and stock plans - Invested **$8,457 thousand** in construction expenditures for the three months ended March 31, 2024[96](index=96&type=chunk) - Anticipates approximately **$33,700 thousand** in additional construction expenditures for the remainder of 2024, excluding potential acquisitions[97](index=97&type=chunk) - Primary funding sources for 2024 capital projects will be internally-generated funds, supplemented by line of credit borrowings and stock purchase plans[97](index=97&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with a $50 million unsecured line of credit and internally generated cash flow, having issued $40 million in long-term debt in February 2024 to refinance its line of credit, while targeting an equity ratio between 50% and 55% - Maintains a **$50,000 thousand** unsecured line of credit, which had no outstanding balance as of March 31, 2024, after being repaid with proceeds from a new debt offering[103](index=103&type=chunk) - In February 2024, issued **$40,000 thousand** in **5.67% senior notes** to refinance the line of credit used for interim financing of capital projects[106](index=106&type=chunk) Capitalization Ratios | Metric | Mar. 31, 2024 | Dec. 31, 2023 | | :--- | :--- | :--- | | Common Stockholders' Equity % | 53.7% | 54.8% | | Long-term Debt % | 46.3% | 45.2% | - Standard & Poor's affirmed the company's credit rating at **A-** with a stable outlook on July 26, 2023[113](index=113&type=chunk) [Environmental Matters](index=24&type=section&id=Environmental%20Matters) The company is implementing a PPUC-approved plan to replace up to 400 customer-owned lead service lines annually, with costs recorded as a regulatory asset, having spent approximately $1.8 million as of March 31, 2024, while all Pennsylvania counties returned to normal drought status in March 2024 - The company has a program to replace up to **400 customer-owned lead service lines** annually, with costs recovered through future rates. The cumulative cost was approximately **$1,819 thousand** as of March 31, 2024[119](index=119&type=chunk) - On March 6, 2024, Pennsylvania state officials returned all counties to normal drought status[120](index=120&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company has determined that this item is not applicable for the reporting period - Not applicable[123](index=123&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on management's evaluation, including the CEO and CFO, the company's disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the first quarter - The President and CEO, along with the CFO, concluded that the company's disclosure controls and procedures are effective as of the end of the reporting period[124](index=124&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[125](index=125&type=chunk) [Other Information](index=25&type=section&id=Item%205.%20Other%20Information) During the first quarter of 2024, no director, officer, or the company itself adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - No director or officer adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" during the three months ended March 31, 2024[126](index=126&type=chunk) PART II: Other Information [Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications required by the Sarbanes-Oxley Act and Inline XBRL documents for interactive data - The filing includes CEO and CFO certifications pursuant to Rule 13a-14(a)/15d-14(a) and Section 906 of the Sarbanes-Oxley Act of 2002[130](index=130&type=chunk) - Interactive Data Files (XBRL) are included as exhibits **101** and **104**[130](index=130&type=chunk) [Signatures](index=27&type=section&id=Signatures) The report was officially signed and authorized on May 7, 2024, by the company's Principal Executive Officer, Joseph T. Hand, and its Principal Financial and Accounting Officer, Matthew E. Poff - The report is signed by Joseph T. Hand, Principal Executive Officer, and Matthew E. Poff, Principal Financial and Accounting Officer[134](index=134&type=chunk) - The date of the signatures is **May 7, 2024**[134](index=134&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34245 THE YORK WATER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 23-1242500 (St ...

Financial Results Announcement - The York Water Company announced its fourth quarter and annual 2023 financial results on March 5, 2024[5]. - The press release detailing the financial results is incorporated by reference in the Form 8-K filing[5]. - The financial results include key metrics that will be detailed in the press release[5]. - The filing does not include specific performance numbers or guidance in the provided content[5]. Company Information - The company is listed on the Nasdaq Global Select Market under the trading symbol YORW[3]. - The report does not indicate whether the company is an emerging growth company[3]. - The report is signed by Matthew E. Poff, Chief Financial Officer, indicating official acknowledgment of the financial results[9]. - The filing is made in compliance with the Securities Exchange Act of 1934[8]. - The company’s principal executive offices are located in York, Pennsylvania[2]. Product and Market Strategy - The report does not provide any information on new products, technologies, or market expansion strategies[5].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34245 THE YORK WATER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 23-12 ...

Financial Performance - Net income for Q2 2023 was $6,524, an increase of $1,495, or 29.7%, from $5,029 in Q2 2022[78] - Net income for the first six months of 2023 was $10,177, an increase of $1,289, or 14.5%, from $8,888 in the same period of 2022[84] - Operating revenues for Q2 2023 increased by $3,868, or 26.0%, to $18,767 from $14,899 in Q2 2022, primarily due to a rate increase effective March 1, 2023[79] - Operating revenues for the first six months of 2023 increased by $5,029, or 17.3%, to $34,168 from $29,139 in the first half of 2022[85] Customer Growth - The average number of water customers served increased by 989, from 70,308 in 2022 to 71,297 in 2023, while wastewater customers increased by 406, from 5,533 to 5,939[79] - The Company signed agreements to acquire wastewater and water assets, expected to add approximately 230 and 90 customers respectively, pending regulatory approval[94][95] - The Company signed an agreement to purchase water assets of Pine Run Retirement Community, expected to add approximately 100 water customers in 2023[98] - The Company signed an agreement to purchase wastewater assets from CMV Sewage Co., expected to add approximately 280 wastewater customers in Q1 2024[99] Operating Expenses - Operating expenses for Q2 2023 rose by $1,926, or 23.1%, to $10,251 from $8,325 in Q2 2022, driven by higher depreciation, wastewater treatment, and wages[80] Debt and Financing - Interest on debt for Q2 2023 increased by $473, or 39.3%, to $1,678 from $1,205 in Q2 2022, due to higher long-term debt and interest rates[81] - As of June 30, 2023, the Company's total long-term debt as a percentage of total capitalization was 43.0%, up from 40.7% at the end of 2022[116] - The Company entered into a note purchase agreement for $40,000 in senior notes, with net proceeds of approximately $39,829 used to refinance line of credit borrowings[115] Construction and Investment - The Company invested $29,725 in construction expenditures for the six months ended June 30, 2023, funded through various sources[105] - Anticipated construction expenditures for the remainder of 2023 are approximately $30,400, primarily funded by internally-generated funds[106] - The Company generated $14,596 in internally-generated funds during the first six months of 2023, an increase from $11,013 in the same period of 2022[109] Tax and Regulatory Matters - The effective tax rate for the first six months of 2023 was 11.0%, up from (0.7)% in the same period of 2022, primarily due to higher taxable income[90] - The Company has a regulatory asset of approximately $1,589 for lead service line replacements as of June 30, 2023[126] Market Conditions - A drought watch was issued on June 15, 2023, potentially impacting future revenues and net income[128] - The Company maintains a credit rating of A- with a stable outlook as of July 26, 2023[121] - No applicable market risk disclosures were provided in the earnings call[132]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34245 THE YORK WATER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 23-124250 ...

Customer Growth and Revenue - The Company increased its customer base from 73,144 to 76,731 during the year ended December 31, 2022, reflecting growth through acquisitions and organic expansion[41]. - Revenue for the year ended December 31, 2022, was $60,061, an increase of $4,942 or 9.0% compared to $55,119 in 2021[43]. - Operating revenues for 2022 increased by $4,942, or 9.0%, from $55,119 in 2021 to $60,061 in 2022, primarily due to growth in the customer base and revenues from the DSIC of $2,243[84]. - The average number of wastewater customers served in 2022 increased by 2,284 customers, from 3,325 to 5,609, primarily due to the West Manheim Township acquisition[84]. - The Company expects revenues for 2023 to increase due to a rate increase effective March 1, 2023, and continued growth in the number of water and wastewater customers[84]. Financial Performance - Net income for 2022 was $19,580, an increase of $2,596, or 15.3%, from $16,984 in 2021, driven by higher operating revenues and lower income taxes[83]. - Operating income for 2022 was $24,483 million, an increase from $23,396 million in 2021, which is a growth of 4.6%[155]. - Basic and diluted earnings per share improved to $1.40 in 2022, up from $1.30 in 2021, marking a 7.7% increase[155]. - Net income rose to $19,580 million in 2022, compared to $16,984 million in 2021, reflecting an increase of 9.4%[155]. - The Company's effective tax rate for 2022 was 0.1%, a decrease of 98.7% compared to 6.2% in 2021, primarily due to higher deductions from the IRS TPR[89]. Operating Expenses and Capital Expenditures - Operating expenses for 2022 increased by $3,855, or 12.2%, from $31,723 in 2021 to $35,578 in 2022, mainly due to higher depreciation and treatment costs[85]. - Capital expenditures related to water quality standards and environmental requirements are budgeted to represent less than 15% of total expected capital expenditures over the next five years[40]. - The Company invested $50,532 in construction expenditures during 2022, including infrastructure improvements and wastewater treatment plant construction[98]. - Anticipated construction and acquisition expenditures for 2023 and 2024 are approximately $60,600 and $47,100, respectively[99]. Assets and Liabilities - The Company's total assets increased to $510,595,000 as of December 31, 2022, from $458,853,000 in 2021, reflecting a growth of approximately 11.3%[149]. - The net utility plant value rose to $431,205,000 in 2022, up from $382,909,000 in 2021, indicating an increase of about 12.6%[149]. - Accounts receivable increased to $6,701,000 in 2022 from $4,634,000 in 2021, representing a growth of approximately 44.7%[149]. - The Company’s long-term debt, excluding the current portion, was $139,465,000 as of December 31, 2022, slightly up from $138,869,000 in 2021[152]. - Regulatory assets totaled $42,545 million in 2022, down from $45,280 million in 2021, primarily due to changes in income taxes and unrealized swap losses[179]. Dividends and Stock Performance - The dividend payout ratios for 2022 were 56.2% relative to net income and 48.5% relative to net cash provided by operating activities, compared to 58.3% and 42.7% in 2021, respectively[125]. - The Board of Directors declared a quarterly dividend of $0.2027 per share, an increase of 4.00% from the previous $0.1949 per share[126]. - Common stockholders' equity as a percentage of total capitalization increased to 59.3% as of December 31, 2022, from 50.6% in 2021[105]. - The Company completed a public offering of 975,600 shares at $41 per share, raising net proceeds of $43,970[104]. Regulatory and Compliance - The Company is currently in compliance with all applicable water quality standards and does not anticipate major capital expenditures for its wastewater business[40]. - The effective Pennsylvania corporate net income tax rate will decrease from 9.99% to 8.99% starting January 1, 2023[114]. - The Company was granted approval to modify its tariff to include the cost of replacing up to 400 lead customer-owned service lines over nine years, with an estimated cost of $1,700 per line[124]. Acquisitions and Growth Strategy - The Company signed agreements to acquire wastewater assets expected to add approximately 280, 180, and 30 customers from three different acquisitions, with completion expected in the second half of 2023[93][94][95]. - The company completed the acquisition of wastewater collection assets in December 2021 for approximately $11,991 million, adding about 1,800 customers[207]. - In August 2022, the company acquired water and wastewater assets for approximately $47 million, adding 50 customers, with a negative acquisition adjustment of $13 million[208]. - The Company completed the acquisition of wastewater collection and treatment assets, adding approximately 90 wastewater customers for a purchase price of approximately $481 million[213]. Supply Chain and Inventory Management - The Company maintains an adequate inventory of critical repair parts and has not experienced material supply chain disruptions due to COVID-19[78].