York Water Company reported first‑quarter 2026 results that showed operating revenues of $20.07 million, up $1.62 million (8.7%) from the same period a year earlier, and net income of $4.81 million, an increase of $1.18 million year‑over‑year. Basic and diluted earnings per share rose to $0.33, up $0.08 from $0.25 in Q1 2025, and beat the consensus estimate of $0.31 by $0.02.
Revenue growth was driven by a rate increase that took effect on March 1 2026 and by a modest expansion of the customer base. The company noted that per‑capita water consumption fell 2.2% during the quarter, prompting a focus on bulk water contracts and potential acquisitions to offset the decline. The revenue miss relative to analysts’ estimate of $20.70 million ($0.63 million short) reflects the combined impact of higher operating costs and the lower consumption trend.
Operating and maintenance expenses, depreciation, and interest on debt rose, partially offsetting the revenue lift. Lower income taxes, helped by IRS tangible property regulations, provided a benefit that helped support the bottom line. The company’s cost‑control discipline allowed it to maintain profitability despite the higher expense mix, contributing to the EPS beat.
Capital investment remained a priority: York Water invested $9.8 million in infrastructure projects during Q1 2026 and plans an additional $38.1 million for the remainder of 2026, excluding acquisitions. The company’s long‑standing dividend streak and its status as the oldest investor‑owned utility in the United States underscore its financial stability and commitment to shareholders.
"President Hand reported that first quarter operating revenues of $20,074,000 increased $1,618,000, and net income of $4,814,000 increased $1,176,000 compared to the first quarter of 2025. Basic and Diluted Earnings per share of $0.33 for the three‑month period increased $0.08 compared to the same period last year," the company said.
In comparison, the company’s Q4 2025 EPS of $0.36 beat estimates of $0.32, but revenue missed expectations. The Q1 2026 results demonstrate a steady year‑over‑year growth trajectory, with earnings and revenue gains supported by rate increases and customer growth, while the company continues to invest heavily in infrastructure and maintain a robust dividend policy.
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