Essential Utilities Inc

WTRG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$47.00	Msxmyf	Yxptgjlqm

Essential Utilities Earnings: Warm Winter Offsets Core Earnings Growth in First Quarter

Travis Miller

May 9, 2023

We reaffirm our $42 per share fair value estimate for Essential Utilities after the company reported earning $0.72 per share during the first quarter, down from $0.76 during the first quarter of 2022 primarily due to exceptionally warm winter weather that reduced gas use. Essential remains on track to meet our full-year outlook. We also reaffirm our narrow moat and stable moat trend ratings.

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