York Water Co. Files Q2 2024 10-Q

TL;DR

YORK WATER CO Q2 10-Q FILED. FINANCIALS UPDATED.

AI Summary

The York Water Company filed its 10-Q for the period ending June 30, 2024. The company operates in the water supply industry and is incorporated in Pennsylvania. Key financial data and operational details for the second quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors with an update on the financial health and operational performance of The York Water Company for the second quarter of 2024.

Risk Assessment

Risk Level: low — As a regulated utility, York Water Company typically operates in a stable environment with predictable revenue streams, leading to a lower risk profile.

Key Players & Entities

• YORK WATER CO (company) — Filer
• PA (location) — State of Incorporation
• 20240630 (date) — Period of Report
• 20240802 (date) — Filed as of Date

FAQ

Filing Documents

• form10q.htm (10-Q) — 886KB
• exhibit311.htm (EX-31.1) — 11KB
• exhibit312.htm (EX-31.2) — 12KB
• exhibit321.htm (EX-32.1) — 6KB
• exhibit322.htm (EX-32.2) — 6KB
• image01.jpg (GRAPHIC) — 4KB
• 0000108985-24-000070.txt ( ) — 4811KB
• yorw-20240630.xsd (EX-101.SCH) — 39KB
• yorw-20240630_cal.xml (EX-101.CAL) — 58KB
• yorw-20240630_def.xml (EX-101.DEF) — 148KB
• yorw-20240630_lab.xml (EX-101.LAB) — 564KB
• yorw-20240630_pre.xml (EX-101.PRE) — 294KB
• form10q_htm.xml (XML) — 599KB

Financial Statements

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II Other Information Item 5. Other Information 26 Item 6. Exhibits 27

Signatures

Signatures 28 Page 2 THE YORK WATER COMPANY

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. Balance Sheets (Unaudited) (In thousands of dollars, except per share amounts) Jun. 30, 2024 Dec. 31, 2023 ASSETS UTILITY PLANT, at original cost $ 641,188 $ 620,201 Plant acquisition adjustments ( 9,457 ) ( 9,384 ) Accumulated depreciation ( 119,681 ) ( 117,113 ) Net utility plant 512,050 493,704 OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $ 520 in 2024 and $ 501 in 2023 1,550 1,569 CURRENT ASSETS: Cash and cash equivalents 1 1 Accounts receivable, net of reserves of $ 1,305 in 2024 and $ 1,005 in 2023 7,649 7,837 Unbilled revenues 3,741 3,484 Recoverable income taxes – 332 Materials and supplies inventories, at cost 3,584 3,109 Prepaid expenses 1,569 821 Total current assets 16,544 15,584 OTHER LONG-TERM ASSETS: Prepaid pension cost 24,112 23,380 Note receivable 255 255 Deferred regulatory assets 50,872 48,949 Other assets 4,996 4,764 Total other long-term assets 80,235 77,348 Total Assets $ 610,379 $ 588,205 The accompanying notes are an integral part of these statements. Table of Contents Page 3 THE YORK WATER COMPANY Balance Sheets (Unaudited) (In thousands of dollars, except per share amounts) Jun. 30, 2024 Dec. 31, 2023 STOCKHOLDERS' EQUITY AND LIABILITIES COMMON STOCKHOLDERS' EQUITY: Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 14,361,225 shares in 2024 and 14,332,245 shares in 2023 $ 137,138 $ 136,174 Retained earnings 88,277 85,004 Total common stockholders' equity 225,415 221,178 PREFERRED STOCK, authorized 500,000 shares, no shares issued – – LONG-TERM DEBT 191,121 180,007 COMMITMENTS – – CURRENT LIABILITIES: Accounts payable 12,955 10,873 Dividends payable 2,761 2,754 Accrued compensation and benefits 1,599 1,629 Accrued income taxes 230 – Accrued interest 2,492 1,741 Deferred regulatory liabilities

View Full Filing

View this 10-Q filing on SEC EDGAR