York Water Co. Files Q3 2024 10-Q

TL;DR

YORK WATER CO 10-Q FILED: Q3 2024 RESULTS ARE IN.

AI Summary

The York Water Company filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance for the third quarter and the first nine months of the year. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors with an update on The York Water Company's financial health and operational performance for the most recent quarter, crucial for investment decisions.

Risk Assessment

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

Key Players & Entities

• YORK WATER CO (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241107 (date) — Filing date
• PA (location) — State of incorporation
• 17401-1219 (postal_code) — Business address zip code

FAQ

Filing Documents

• form10q.htm (10-Q) — 892KB
• 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
• 0000108985-24-000089.txt ( ) — 4835KB
• yorw-20240930.xsd (EX-101.SCH) — 39KB
• yorw-20240930_cal.xml (EX-101.CAL) — 58KB
• yorw-20240930_def.xml (EX-101.DEF) — 149KB
• yorw-20240930_lab.xml (EX-101.LAB) — 567KB
• yorw-20240930_pre.xml (EX-101.PRE) — 295KB
• form10q_htm.xml (XML) — 603KB

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) Sep. 30, 2024 Dec. 31, 2023 ASSETS UTILITY PLANT, at original cost $ 653,263 $ 620,201 Plant acquisition adjustments ( 9,437 ) ( 9,384 ) Accumulated depreciation ( 122,158 ) ( 117,113 ) Net utility plant 521,668 493,704 OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $ 526 in 2024 and $ 501 in 2023 1,544 1,569 CURRENT ASSETS: Cash and cash equivalents 1 1 Accounts receivable, net of reserves of $ 1,455 in 2024 and $ 1,005 in 2023 7,712 7,837 Unbilled revenues 3,490 3,484 Recoverable income taxes – 332 Materials and supplies inventories, at cost 3,775 3,109 Prepaid expenses 1,776 821 Total current assets 16,754 15,584 OTHER LONG-TERM ASSETS: Prepaid pension cost 24,006 23,380 Note receivable 255 255 Deferred regulatory assets 52,110 48,949 Other assets 5,083 4,764 Total other long-term assets 81,454 77,348 Total Assets $ 621,420 $ 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) Sep. 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 14,371,929 shares in 2024 and 14,332,245 shares in 2023 $ 137,576 $ 136,174 Retained earnings 91,112 85,004 Total common stockholders' equity 228,688 221,178 PREFERRED STOCK, authorized 500,000 shares, no shares issued – – LONG-TERM DEBT 198,439 180,007 COMMITMENTS – – CURRENT LIABILITIES: Accounts payable 11,503 10,873 Dividends payable 2,780 2,754 Accrued compensation and benefits 1,744 1,629 Accrued income taxes 336 – Accrued interest 1,326 1,741 Deferred regulatory liabilities

View Full Filing

View this 10-Q filing on SEC EDGAR