Essential Utilities(US:WTRG)2023-11-07 16:42Financial Performance - Q3 2023 operating revenues were $411.3 million, compared to $434.6 million in Q3 2022[13] - Q3 2023 net income was $80.1 million, compared to $68.6 million in Q3 2022[13] - Q3 2023 net income per share was $0.30, compared to $0.26 in Q3 2022[13] - YTD 2023 operating revenues were $1,574.4 million, a decrease of 0.5% compared to $1,582.6 million in YTD 2022[38] - YTD 2023 net income was $362.8 million, an increase of 3.6% compared to $350.3 million in YTD 2022[38] - YTD 2023 net income per share was $1.37, an increase of 3.0% compared to $1.33 in YTD 2022[38] Acquisitions and Divestitures - Year-to-date infrastructure investment reached $874.5 million[4] - The company has agreements to acquire five systems for a total purchase price of $353.8 million[6, 7] - The company closed on the sale of Peoples Gas utility assets in West Virginia for $37 million[26] - The company announced the sale of three unregulated district energy and microgrid projects in Pittsburgh for $165 million[26] - Over $526 million in rate base acquired through M&A since 2015[28] ESG and Regulatory - Essential aims for a 60% reduction in Scope 1 and 2 greenhouse gas emissions by 2035, from a 2019 baseline[10] - 18% of Essential's controllable spend is with diverse suppliers, achieving the company's target[10] - Completed regulatory recoveries are expected to increase annualized revenue by $42.4 million for the water segment and $21.3 million for the gas segment[27]