Aqua America Provides 2017 Earnings Guidance
January 17 2017 - 7:45AM
Business Wire
- 2017 earnings per diluted common
share estimated at $1.34 to $1.39
- Company expects to invest record
amount in infrastructure in 2017
Aqua America, Inc. (NYSE: WTR), one of the largest U.S.-based,
publicly traded water and wastewater utilities, today announced its
earnings guidance for 2017, and reaffirmed its guidance for the
year ended December 31, 2016.
2017 Guidance Highlights
- Earnings per diluted common share of
$1.34 to $1.39
- Same-system operations and
maintenance expenses increase of 1 to 2 percent
- More than $450 million in
infrastructure improvements in 2017 for communities served by Aqua;
more than $1.2 billion planned through 2019 in existing operations
to improve and strengthen systems
- Aqua Pennsylvania expected to file
infrastructure investment charge in 2017 and rate case filing
likely in 2018, with resolution expected in 2019
- Total customer growth of 1.5 to 2
percent
"Our confidence in our ability to deliver long-term value for
our stakeholders is reflected in our 2017 guidance,” said President
and Chief Executive Officer of Aqua America Christopher Franklin.
“Growing our customer base through acquisitions, prudently
investing to renew our aging infrastructure, and creating
efficiencies across the organization remain among our highest
priorities.”
“We will continue our ongoing commitment to maintaining a
sustainable business by capitalizing on our core capabilities,”
Franklin added. “We are optimistic about the increasing volume of
opportunities we see in the water and wastewater markets, which
should allow us to bring our world-class service to more
customers."
Aqua America does not guarantee future results of any kind.
Guidance is subject to risks and uncertainties, including, without
limitation, those factors outlined in the “Forward Looking
Statements” of this release and the “Risk Factors” section of the
company’s annual and quarterly reports filed with the Securities
and Exchange Commission (SEC).
Earnings Guidance Call InformationDate: January 17,
2017Time: 10 a.m. EST (please dial in by 9:45 a.m.)Webcast and
slide presentation link: http://ir.aquaamerica.com/events.cfmReplay
Dial-in #: 888.203.1112 (U.S.) & +1 719.457.0820
(International)Confirmation code: 6198268
The company’s conference call with financial analysts will take
place on Tuesday, January 17, 2017 at 10 a.m. Eastern Standard
Time. The call and presentation will be webcast live so that
interested parties may listen over the Internet by logging on to
AquaAmerica.com and following the link for Investor Relations. The
conference call will be archived in the investor relations section
of the company’s website for 90 days following the call.
Additionally, the call will be recorded and made available for
replay at 1 p.m. on Jan. 17, 2017 for 10 business days following
the call. To access the audio replay in the U.S., dial 888.203.1112
(pass code 6198268). International callers can dial +1 719.457.0820
(pass code 6198268).
About Aqua America
Aqua America is one of the largest U.S.-based, publicly traded
water and wastewater utilities and serves nearly 3 million people
in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey,
Indiana and Virginia. Aqua America is listed on the New York Stock
Exchange under the ticker symbol WTR. Visit AquaAmerica.com for
more information.
Caution Concerning Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others: the guidance range of earnings per share
for the fiscal years ending in 2016 and 2017; the continuation of
the company's growth-through-acquisition program and the
expectations for customer growth from this program; the expected
increase in customer base for the fiscal years ending in 2016 and
2017; the company's expected same-system operations and maintenance
expense increase for the fiscal years ending in 2016 and 2017; the
company's ability to control expenses and create and maintain
efficiencies; the anticipated amount of capital investment from
2016 through 2019; the company’s filing of a Pennsylvania DSIC case
in 2017 and a Pennsylvania rate case in 2018; and, the volume and
pace of opportunities in the water and wastewater field. There are
important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements including: the company's continued ability to adapt
itself for the future and build value by fully optimizing company
assets; general economic business conditions; the company's ability
to fund needed infrastructure; housing and customer growth trends;
unfavorable weather conditions; the success of certain cost
containment initiatives; changes in regulations or regulatory
treatment; availability and access to capital; the cost of capital;
disruptions in the credit markets; the success of growth
initiatives; the company's ability to continue to deliver strong
results; the company's ability to grow its dividend, add
shareholder value and to grow earnings; municipalities willingness
to privatize its water and/or wastewater utilities; the company’s
success in its Pennsylvania DSIC and rate filings; and other
factors discussed in our Annual Report on Form 10-K, which is filed
annually with the Securities and Exchange Commission. For more
information regarding risks and uncertainties associated with Aqua
America's business, please refer to Aqua America's annual,
quarterly and other SEC filings. Aqua America is not under any
obligation - and expressly disclaims any such obligation - to
update or alter its forward-looking statements whether as a result
of new information, future events or otherwise.
WTRF
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version on businesswire.com: http://www.businesswire.com/news/home/20170117005476/en/
Aqua America, Inc.Brian DingerdissenInvestor RelationsO:
610-645-1191BJDingerdissen@AquaAmerica.comorGretchen
TonerCommunicationsO: 610-645-1175M:
484-368-4816GMToner@AquaAmerica.com
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