Essential Utilities, Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Regulated Natural Gas Segment
Our Regulated Natural Gas segment recognizes revenues by selling gas directly to customers at approved rates or by transporting gas through our pipelines at approved rates to customers that have purchased gas directly from other producers, brokers, or marketers. Natural gas sales to residential, commercial and industrial customers are seasonal, which results in higher demand for natural gas for heating purposes during the colder months. A weather normalization adjustment (“WNA”) mechanism is in place for our natural gas customers served in Kentucky, and, beginning in October 2024, for our natural gas customers in Pennsylvania. The WNA mechanism serves to minimize the effects of weather on the Company’s ability to collect revenues to cover operating expenses for its residential and small and medium commercial natural gas customers. The WNA mechanism adjusts revenues earned for the variance between actual and normal weather and can have either positive (warmer than normal) or negative (colder than normal) effects on revenues.
The following tables present selected operating results and statistics for our Regulated Natural Gas segment, for the periods ended September 30, 2025 and 2024:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating revenues | $108,450 | $96,731 | $756,568 | $549,250 |
| Operations and maintenance expense | $47,453 | $49,002 | $152,914 | $144,628 |
| Purchased gas | $19,965 | $17,603 | $250,456 | $175,825 |
| Segment net income (loss) | $(24,831) | $(30,660) | $182,190 | $177,563 |
| Operating Statistics | ||||
| Selected operating results as a percentage of operating revenues: | ||||
| Operations and maintenance | 43.8% | 50.7% | 20.2% | 26.3% |
| Purchased gas | 18.4% | 18.2% | 33.1% | 32.0% |
| Depreciation and amortization | 38.2% | 35.5% | 15.6% | 18.1% |
| Taxes other than income taxes | 5.2% | 5.7% | 1.8% | 3.3% |
| Interest expense, net of interest income | 24.2% | 22.9% | 10.3% | 12.4% |
| Segment net income (loss) | -22.9% | -31.7% | 24.1% | 32.3% |
| Effective tax rate | 18.3% | -0.7% | -23.4% | -27.9% |
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