York Water Company Issues Press Release Announcing Third Quarter 2024 Financial Results

The York Water Company, a leading water utility provider based in Pennsylvania, recently disclosed its financial performance for the third quarter and first nine months of 2024 in a press release dated November 7, 2024.

According to the company’s report, revenue for the third quarter of 2024 decreased to $6.95 million, reflecting an 8% decline compared to the same period in 2023. Adjusted EBITDA for the quarter reduced to $1.4 million from $1.8 million in Q3 2023. Despite the revenue decrease, the company noted a positive cash flow from operations, which increased to $1.5 million from $0.3 million in the third quarter of 2023. York Water Company highlighted the growth in subscriptions, reaching 1,121 in Q3 2024 compared to 1,050 in Q3 2023.

In terms of outlook, the company anticipates that its communications and subscription model will drive growth in the upcoming period. Additionally, they aim to enhance operational efficiency to achieve margin expansion.

Year to date highlights for the first nine months of 2024 indicated a 16% decrease in total revenue to $21.6 million from $25.8 million in the corresponding period of 2023. Despite this decline, York Water Company reported positive operating cash flows of $2.29 million for the first nine months of 2024, comparable to the same period last year. Non-GAAP metrics, such as EBITDA and adjusted EBITDA, also showed reductions compared to the previous year.

The company’s financial statements and exhibits have been disclosed in compliance with SEC regulations. Interested parties can access the complete details in the Form 8-K filing on the company’s website or the SEC’s EDGAR database.

For further details, York Water Company hosted a conference call on November 7, 2024, to discuss these financial results. The call included information on the company’s performance, operational strategies, and future prospects.

Issued By:
Matthew E. Poff
Chief Financial Officer

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read York Water’s 8K filing here.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.