Essential Utilities reports Q1 EPS 97c, consensus 77c

Reports Q1 revenue $612.07M, consensus $750.08M. “Although our gas footprint experienced warmer than normal winter weather in Q1 2024, we remain focused on and expect to post strong results for the year,” said Essential Utilities Chairman and Chief Executive Officer Christopher Franklin. “In Q1 2024, the company completed the $165 million sale of its three non-utility microgrid and district energy projects in Pittsburgh. The proceeds were used to finance Essential’s capital expenditures in place of external funding from equity and debt issuances.”