This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aqua America Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: WTR

At this time, I would like to turn the call over to Nick for his formal remarks, after which we will open the call up for questions.

Nick DeBenedictis

Thank you, Brian, and good morning, everyone. Pleased to report another solid quarter with GAAP EPS up 11% at 30 versus 27 last year, we experienced strong revenue growth of 11% in this quarter broken down 5% of that’s from rates, 4% from acquisitions, the fact that the Ohio purchase and the Texas purchase last year were up against less the robust results from the other states that we used to have.

And also seven new smaller acquisitions. And the remaining 2% from better than expected weather chiefly in the Mid West. But the main story of this solid financial performance in the quarter, I believe is execution, execution, execution. Thanks for just clicking.

Our operating expenses from continuing ops and interest expenses were both flat, and that allowed the GAAP earnings on a continuing basis to actually go up even faster 30 versus 26 or 15% increase in EPS.

On the interest front, financing we held onto our coveted A+ rating in Pennsylvania, which makes us one of the higher rank utilities by S&P. And that’s allowing us to borrow at unprecedented low rates, we did $50 million in May a 15 year note for 3.57.

We have about 55% of our $300 million revolver used, so we still have quite a bit of space on it, and we’re averaging 1% a year on that borrowing. And we have – we already took out this year a $5 million issue at 9%, who can remember 9% money that was 30 years ago, I guess and $25 million that is 6%. And we have over $100 million in tax freeze ranging from 4.5 to 5.5 that we plan to call in the second half there after 10 year time period.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs