Aqua America, Inc. (NYSE: WTR) today announced its guidance for 2016.
2016 Guidance Highlights
-
Earnings per diluted common share of $1.30 to $1.35
-
Total customer base growth of 1.5 to 2 percent
-
Same-system operations and maintenance expenses increase of 1 to 2
percent
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More than $350 million in capital investments in 2016; more than $1.1
billion planned through 2018
“The guidance for 2016 is a reflection of our ongoing commitment to
increase value for our customers, employees and shareholders,” said Aqua
America President and Chief Executive Officer Christopher Franklin.
“Growing our customer base through strategic acquisitions, prudently
investing to renew our aging infrastructure, and creating efficiencies
across the entire organization continue to be our highest priorities. We
believe our 2016 guidance shows that we are continuing our commitment to
growth.”
Aqua America will host an analyst day on January 14, 2016 at the New
York Stock Exchange. A live webcast of the event will be available on
the Investor Relations section of AquaAmerica.com
beginning at 9 a.m. and ending at approximately 11:30 a.m. Eastern
Standard Time. The webcast will be archived in the Investor Relations
section of the company’s website for 90 days following the event.
Franklin and other members of Aqua’s senior leadership team will present
on the company’s current operations, corporate finance, regulatory
affairs and future growth strategy.
About Aqua America
Aqua America is one of the largest U.S.-based, publicly traded water
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 year
ending in 2016; 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 year ending in 2016; the company's expected same-system
operations and maintenance expense increase for the fiscal year ending
in 2016; the company's ability to control expenses and create and
maintain efficiencies; the anticipated amount of capital investment 2016
through 2018; the company's ability to increase value for customers,
employees and shareholders; and the continuation of investments in
strategic ventures. 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 due to its financial position; housing and
customer growth trends; unfavorable weather conditions; the success of
certain cost containment initiatives; changes in regulations or
regulatory treatment; changes in the valuation of our investment in our
joint venture in the Marcellus shale region; 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; and other factors discussed in
our Annual Report on Form 10-K, which is on file 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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