WTRG - Earnings call transcript Q2 2021 | Essential Utilities, Inc.

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Operator

Good day, and welcome to the Essential Utilities, Inc.

Second Quarter 2021 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Brian Dingerdissen. sir. ahead, go Please

Brian Dingerdissen

Good Essential and Earnings Utilities Dingerdissen, Relations. am Kathy. joining Call. you us Brian Investor of for Second Head morning, you, thank everyone, for I Thank Quarter XXXX

website. receive you it event and website the be find the at a If The visiting on also not copy the be that you by of press section Relations this referencing slides webcast can of found Investor essential.co. of can release, our our will did we

our statement. is Here forward-looking

reminder, uncertainties a matters cause most SEC such recent description during factors Please As expressed be of some discussed and results implied filings XX-K statements for and XX-Q, may a future to or this the statements. forward-looking refer include by materially to that call any forward-looking risks of other different uncertainties. the that and our may actual results involve from risks, other such

may these in questions. this After call the GAAP we end Relations certain of presentation, reconciliation at posted presentation included reference course of the of for section the non-GAAP Investor of will the A the the be up and During non-GAAP measures open made is also measures. to the call, financial website. to financial

We'll Here's highlights CEO, Franklin, who agenda and update. start will provide the our call our for today. discuss Chris with Chairman and a company

the program questions. turn conclude Chris results. then for provide will I and will our portion an the Chris Schuller, our over Dan the financial will on municipal CFO, to that, Next, acquisition discuss our before Franklin. With update call call presentation opening

Chris Franklin

everyone. Thanks morning, joining and us. Brian, good Thanks, for

with throughout moment. XXXX. second as X.X%, invested detail in million strong with highlights. of first the $XXX to going discuss half We improvements compared of the quarter the infrastructure Dan of year a net over call income in at look systems all start our $XXX.X quarter in another million a of in the quarter just that We is to growth in had Let's second the

plans You down, and join long-term May, that the Board. Board Benedictis Nick the currently Dave stepped a President Marzetti might was Audit a Board quarterly Board Company, Essential, year decades to with in of back leadership our addition creating on Dave July, Governance and very Ohio. which of Corporate members. in Also has T where increase Board brought Colony experience, appointed and the our dividend last Corporation, food member now dividend, for as recall who Ciesinski he appointed a The Committees, to developing implementing in Edwina Lancaster in of our and vacancy Board X% a former Director Kelly, Dave CEO, team. as serve the earlier Directors. of company the brings $X.XX, nearly along Ciesinski, Dave marking the serves successful it's now to with serves is extensive and and CEO X growth based X Then increases. approved President, of month, At on

the have our that I'll XX and closing that strong we X increase finally, about fair just But price. Texas, natural little years gas XX in a increase dividend segment, in more of announced incorporates year payments. purchase quarterly very value dividend talk our proud pending bit and market Our in moment. of XXst strategy first, as fully we X% of consecutive we a marks our acquisition totaling report remains ESG the that million a transaction of and published the municipal $XXX.X XXXX acquisitions, about that. in announced We're we in first And July

and our really customers, consistent only to reliable record We're providing resources over per delivering our safe natural dividend share. annualized our access the commitment will Following value. and long just rate $X.XX the of for be to proud of but shareholder increase, also

recall our the water which in legacy we What microsite, wastewater ESG the just are for included Now, our our for last I'm XXXX site. operations. last we published you results report ESG days. that launching might you October, today and new our gas fully excited it And launched that to the in time. of micro on couple new are We operations first our XXXX included tell report,

depth same legacy natural we and business. fact, for gas business wastewater provide In the and level our water our of both

information also level shared new report. in at We the the enterprise

we of gas on many included extensive add more new report, are information investors. some important I Now, and to know operations we some of topics you topics that also as didn't simply to some the the

dynamic find you'll experience microsite the user-friendly. more makes think and that I more ESG even even sharper,

hope I it. a take So you look at

commitment composition corporate an we're COVID-XX of. progress United detailed States. more companies is It This our continued our the the time in also diversity Russell this recognition water difficult mission workforce the including of challenges. very to our are earn in the covers average best ESG enhanced site a citizens discusses our again, X despite in with us covers quality, our doing. now X% in outperformance increase hiring on helped during in XXXX, one of excellence our It XXXX XXX year as many along Now data proud as year-over-year, further something

you Currently, want XX% the employee color. people commitments diversity color. multiyear start We our XX% we're our we to of on to While essential our I year. we're ESG are of of on a employees at progress set of talking of employees the announced ESG, target at about the update reach

ultimate a emissions coming greenhouse programs goal in place This emissions. than baseline. a set halfway is over ultimate us of X that stand a have achieved net XXXX years. our to progress currently our of since another goal target we And X.X%. the year. be the the also will targets multiyear our of fact, plans our achieve in about goal strong We to continuing to X We've progress look toward forward of X Scope put our with in we -- and a beginning that environmental stewardship, also and at strong our We're more confident that quarter sustainable you share XX% and toward important made and start inclusion, talk community reduction. from our gas Scope X% the very customer suppliers the Dan? And results. would reduction We our that, also diverse. the second of commitment and achieving well, target XXXX experience know We've about practices, employee investors. and let's diversity safety to And engagement business is financial XX% to with

Dan Schuller

Good of morning, everyone. Chris. from up revenues about second with million, quarter Thanks, $XXX Yes. last X.X% ended We the year.

last $X.XX million, income year. gas million. to O&M was million $XXX.X in up decreasing to the $X.XX $XX.X from and earnings relatively expenses natural GAAP million by contributed the segment Our in $XX.X $XXX.X regulated quarter second year-over-year flat water regulated the X.XX% $X.XX. our segment from $XXX.X remained contributed increased for quarter, of from down per $XXX.X and quarter, million, Net second share to

Next, we'll walk the on XXXX, through with the a or quarter increased In starting GAAP million waterfall $XX.X X.XX% revenue. second revenues basis. slide, of

gas the our the You'll see regulated at revenue Increased that $X.X revenue and while segment. contributors warmer other an to additional million the rates towards segment were volume $X.X driver growth weather gas $X.X with and added $X.X than and offset purchased provided the surcharges volume water increases due approximately million price of were water million.These of increase, primary regulated segment year. last decreased from regulated from the $X.X by added million the being largest million, natural the

second state, at every and the had Texas. except let's water in water was class. quarter. favorable look aggregate, customer the second Next, by consumption water up usage increased in quarter consumption the We conditions X.X% in In

it's worth for However, first the that residential time usage since COVID noting started, declined.

as recently XXXX, health $X.X care began compared regulated favorable X year Production customer As the commercial their the second workplace, XXXX medical for usage growth their up $XXX.X and businesses last to return of of costs in all COVID for down since the commercial expected medical maintenance for X% the of When down XXXX. $X.X million returning and and as for nonemergency other and million up costs people quarter included was compared as to delayed the costs. almost to increased providers. were the overall $X.X recall, This but Employee-related $XXX.X second which water for was usage million been with usage consistently and versus were increased million expenses were the you'll year-over-year. million. quarter, many to quarter, customers classes to increased quarter, our increase consumption first Operations another then COVID visits has during water added well. many segment X.XX% segments reopening began, XX% months

overall costs However, in by these when increases were million $X.X the decline in XXXX, O&M million compared other resulting expenses. and $X.X COVID-XX to in QX of offset in

Rates our EPS water GAAP by guidance from including our from second waterfall. $X.XXX. we in our us by to review surcharges year, quarterly this and were $X.XX $X.XX the rolled second of to formal for breakdown. of O&M provided XXXX which large volume These earlier XXXX share $X.XXX quarter $X.XX. regulated items, together for we natural per earnings lower quarter and Next, depreciation, $X.XX regulated the we and and Volume EPS other XXXX. for gas from brought $X.XX. offset increased growth $X.XXX added from nearly $X.XX contributed will added segment for our another GAAP segment out of ranges relatively When the

and the be last water reflected much warm due quarter and builds our expected the people's XXXX. versus of many of to service saw strong favorable sales expenses, resulting off O&M, of down than across year, year ownership For stronger-than-expected more to the including other, of condensed EPS. was same QX, flat tax in we our largely was water to benefit dry of you, expected repair in what way $X.XX to weather led the which and in reflected performance by This a largely territory,

instead I additional and what on this are it bring particularly permanently we focused thought and intention to details are While additional It's quarterly to to our on clarity most see provide guidance, might earnings, for investors fourth third year. want quarters provide the not to helpful quarterly more we know we not estimates this year. be focused of annual some

But you certain costs performance there you and maintenance Peoples expenses health year-to-date guidance a commitments, and come are are that assume half, when for expenses range. that will items might at year increased to mind expected our have earnings. within care and our Specifically, full current through during big the keep that the to consensus in keep us that very QX, including QX add look acquisition second year for related we

calculation. an are those impact incremental expect the additional will from August settle next there shares Additionally, X.X we EPS XXXX that to the forward offering shares week, million and

incremental for year. the For of shares half second clarity, the months more in we'll those have than X.X

waiting range around the as to that in but the as the weather, the you Pennsylvania does midpoint end XX% of look new earlier, then Specifically for in for the full to and, stated we'll noted for QX, range money. contribution well. we the should QX, of guidance business the $X.XX something Realigning the we QX, lower and be water our income rates When meaningful of the net gas gas that result revenue range And year $X.XX. generally again make considering lower experienced results begins, expect expenses XX% generate therefore, season in would quarters if business of normal at quarter. be heating you to provided expect starts to the end on these not should

other Moving and activity matters. on to rate

North filings underway, regulated of we've segment, X water In revenues we've completed natural gas base rate annualized have surcharge for and $XX.X total in $X.X our with Ohio, surcharge rate regulated So cases Pennsylvania, Kentucky total million. and X Carolina, far XXXX, Pennsylvania Illinois, X annualized in of cases for million. for with in Jersey, revenue cases completed Ohio. Aqua or segment Gas Delta We rate currently Indiana Kentucky, our and New or Virginia filings

I'll related we case Importantly, to the provide later outlined it rate Aqua details for over case it a we that hand previously, case with file month, the is that to filed. Chris. additional that, expect will X-year with to back in and line in And once cadence Pennsylvania rate have we

Chris Franklin

Thank Dan. you,

at minutes closing transaction the municipal our Rose busy our this we and with Let's review on announced team, his Water Texas. Earlier their Commons work in presidents and Matt week, few been the projects. and teams along our of growth a state take activity. have

in plus sorry, Texas. the We've customers You suburbs, is fair Pennsylvania value Borough we including add serves system agreement X,XXX The equivalents X million. assets about and get. most wastewater purchase that have agreements our when X may make in system an transaction. water we market to remain the to I customer the the clear. $XX closed. These pending I'm confident recall in -- closing, rate serves approximately recent asset the of transaction of and -- to customers base signed This transactions want first yes, the million addition closed of or DELCORA customers. Houston frequent purchase close for the acquisition close $XXX.X XXX,XXX of this approximately We wastewater is signed X will the Shenandoah, pending that we X,XXX one questions will

system, the While for to and wait this customers transaction and to have both to are we want solution best and conversations, the internally DELCORA for reiterate its that operation we investors. to on productive externally. state continue of continue focused remain the case, our decide We the believe court closing we positive the we continue on and that to

and enforceable valid you note includes makes provision the after days DELCORA XX until to to with concluded. a important is mention valid also it's contract our think all litigation contract and that that I

remember that's important closing that pursue factor I transaction. we think of the an to to continue as

Now XXXX transactions in we engaged the the municipal of This table addition includes look half beyond. are with where pipeline mentioned discussions and opportunities we on have healthy a acquisition previous opportunities at slide, of to as municipal potential the second active in we municipalities. signed

customers. are potential demonstrates, the we new slide actively XXX,XXX approximately pursuing As

to through fair pursue with and continue legislation regulatory We solutions the ours. ability believe industry and market experience needs to infrastructure expertise access value like environments their favorable municipalities and companies provide that to

between strong $X.XX formal call a a the with part the as up year, very half And XXXX our Dan continue call, to of the expect to share. wrap guidance. reaffirmation be the of at of $X.XX least we first I'll mentioned, the despite to So earnings

towards Our customer our questions. of regulated ESG as on mix remarks of $X employee on infrastructure XXXX, approximately regulated final to capital measured our plans this investing I'll targets may our conclude also we strength on We be but spending between company remain be base financial nearly weighted to X% commitment water we in and make average capital XX% be is across growth ensure year. $X track finally, progress and segment. the The water billion anticipate driving community diversity anticipate not to billion water And rate this performance, experience spending X% for to regulated continue platform by to our X% X% for to and only with the by segment. the to With Customer gas. expected growth sustainable Essential line and practices, for X% our is safety, the the engagement. stewardship, environmental open that, inclusion, formal and business my more

Operator

from Scattergood. And our [Operator question first Connors Instructions] will take Ryan we Boenning and with

Ryan Connors

pretty your market get your Obviously, it's to which out wanted I peers, value, going are public some debate FMB. there on take the fair some on detractors, include of Chris, noise there. your there on smaller peers,

having any FMV? any one, terms discrete any comments kind people So then of on of hold of peer that deals of is tangible a sort deals, see And or could regulatory-wise do in Number complicate rollback think try number arguments impact question you twofold. your you my face those of if in tactically forward. do move as more to that two, and you things legislatively

Chris Franklin

question. a It's good

step X said today's Having there But by very who New Happy market think around. publications. value very all forward one of one from it fair and is, the less companies op-ed that to across some a how the have for authored they from interesting industry ability commissioners, favorable market it's some one and that, value. one to use they fair been of from I how the balkanized and indicating Pennsylvania a smaller former share was maybe nice is think Jersey as an know, country. consolidation view we was from public Illinois, noise Jersey, that utility in there of the New fragmented

regulators the thought prevailing that think fair of I very I view and different views, that market would positive for although say matter, legislators is among value. So there a are

it see momentum legislative to and up regulatory and growing municipals capital constraints more on actually for on their don't side. are looking picking ongoing and probably see deal I as the side also any I with So constraints. rollback options the either environmental the or more

Ryan Connors

And so on just was what about -- understood. second the part

to hearing to not legislatively real that move any that see things or Or deals? could is how your don't But on you're side. You individual mean something -- that regulatory of you sort real could or try up stuff tangibly come in I as those impact deals? not -- the not impact the is on or maybe radar -- that constituencies of individual forward?

Chris Franklin

seen haven't in market Most not know an of I people it industry come the be there who's had. of don't there might any a we've that out Yes. in fair value. discussions up leader favor

in hasn't and up and our given match I pieces the in discussions. with are what things come of majority we mentioned probably of corresponding think I it And the easily the very So I op-eds think with favorable detractors who people before favorable writing. some could more out there, saving positive

Ryan Connors

Understood.

one Is that victory do some we effect the Is second and interest groups ahead on pulled legislative maybe a are We back see would that get response got just had moving move still movement that now, Should staying out water claiming my your had SB there -- municipal what's some that, we that? XXX. year, they're the by on that's but pulled. of saying you think? in quality side, that lobbying that forward? and accountability thought sort like the of that desired to this been was looks it Pennsylvania, Now on legislation that

Chris Franklin

pullback. no seen I've Yes.

the probably out it you're Committee. was Senate of aware, as fact, In moved

as Senate Committee. the only dissenting of vote there's out it think one I moved

And enforcement it things if sell one the fair, to place. all we're Accountability things never -- provisions, put it country, their right? where that in right, people in is are will asking were anywhere even your comes unbelievably country. systems down. plans replacement that should These in all their especially think cybersecurity in to Quality of in water that's continue expect systems, this these if negotiated. be the Water I they are What has Pennsylvania Act This cycle, create anywhere

be for you legislature think the out. ultimately, through moves as oppose continue a do municipals, year or And And negotiate to something as I difficult Ryan, this. to bill bill before and will I the some But the so stop. you mentioned, will municipals, mentioned, think try them to this is

Operator

We'll take our Morningstar. from with question next Miller Travis

Travis Miller

the Texas thinking I Any on you Wondering elaborate it how the could mostly under if a went on first through? the smooth? went the FMV? through deal, as know Any wonder points that small, but Was I there Was it timely? it's friction you process went? one that of thoughts about little you bit and

Chris Franklin

Yes.

I it year. think X took

in smooth So scheme would that relatively I the things. of call

As dealing is you point distracted of know, the events with Texas last a this the at Commission bit winter.

would And say, smooth process. so relatively I

Travis Miller

Okay. -- how support alternatively, went Does give more in doing pipeline, your how in of see deals? that this and there's perhaps guess, Texas do given so much Or pipeline? much you terms in opportunity is that your smoothly -- I Texas in to

Chris Franklin

have are there. I that I pipeline don't would sizable Texas of state. typically radar opportunities break by suggest a number opportunities, we on Yes. that even that We will see and and our down But there our say in

developing. it's So

was applies at -- about if Texas, in be others competition that -- think by deals utilities, -- one take point. you But it's And galloping considered you there's or get concede done, note, also and this know, owned to X Texas. just the yes. should And are start is think -- you X this, fair certainly, the which I prices opportunity value to Travis, to I'll that in market investor there But these way this also too, So as of think very fair, once not fair. not especially I municipals. there

twist legislation in interesting other that the states. to seen So we've it's an

Operator

our We'll take with Reeder question Fargo. next from Jonathan Wells

Jonathan Reeder

been X on and latest more the there deal that the thought, commissioner of or is spoke, the Anything said Just Senate Pennsylvania I might we governor Republican. kind wondering of between some have on for you front sort the X last that appointments. -- what

Chris Franklin

-- Sweet he's X. X Yes. I on guess know to required a we And X anything. as guess commissioner April commissioners There October currently, are than term ended I informal vacate it fact, seat seated would the on be the this what then right? more year.

Xst the else So between now September. if nothing in even the October, the second of don't anticipate and which week doesn’t legislature until changes we back go

on and down commission anticipate Commissioner So Yanora that's October Coleman Sweet X Republicans, the be Democrat, step we X, Commissioner and the would X would and Commissioner would then then Chairman.

staying around now, to going the to right, is so part And the greenhouse rest as has as a listen, Senate which have RGGI. be gas of be a the And RGGI debate as you new the that's would really this initiative, unheard majority we're to to of governor commissioners appoint long X flip. is the down appears regional said and framed any the case. Republican Pennsylvania is on the intent not majority, of be X:X a this, And and but commissioners informal

of up with state will And that finishing know. in a don't so ends we time how But chatter that X:X this Republican up being that's is out. certainly, tell. stalemate, could end year capital that the I -- But negotiated the gets majority. the a bit

Jonathan Reeder

I fashion, the there pending your Okay. you that appellate is do form X:X, conditioned on or in And on court think whether to DELCORA act prepared it's if application still or whatever. process they're mean some

Chris Franklin

ceded commission do can't to of to business on, the complete I need say they the to Well, words, business continue can empowered continue is the In commission. going in commission, they PUC. of are say to a what I other order the they're act for full don't what certain to but

on. power them, comes the before whatever to So they have do act

Jonathan Reeder

thoughts public appeal? Any the the timing solution updated it. of of on Got the court

Chris Franklin

process. just now, -- I saying through XXXX we we're Court, the Yes. the that mean or takes Pennsylvania time grind Jonathan, Commonwealth State Court as

the on case. ceded I of that County a Delaware the is County, mean, in election X would bit for of be There minute little in an And commissioners so this. election. counsel think call color up Delaware they or I would them that, just are

is again. commissioner counselman also or them [Amadon], the Mr. named he'll be so then replaced He One not of And was there's Zidich, absolutely. another running up. who's Chairman, and

Delaware So absolutely a Council. come at seat, January, could of in change January It's seated will in a and There January. makeup be County a makeup maybe there be we or they're least in X into when the change something. immediately X to like

Might we and will be settlement, you to a changes see new find So know. a some there there. an opportunity set never with look a new counsel people of

Jonathan Reeder

has Okay. play I the mid-XXXX But year? court in earlier or it's mean kind if fully to out, somewhere in the of

Chris Franklin

Court a hard Commonwealth really frame. It's will said We put the how maybe in X-month on time gauge move. that to quickly

could a that -- to put numbers it's don't court -- just have because move. how midyear. want I just will on the So hard I by be I it tell anybody to quickly

Jonathan Reeder

water case. of? I -- said still filed haven't timing And that's you No, enough. that's you rate be you think Got should think what Dan, then PA you. to filed? we going soon you Did in like of Or fair kind the Okay. how indicate

DanSchuller

Yes. about. filed later Jon, on this That in and coming it cadence us will that weeks, we've be which the filed. think that talked will of I month, that keeps X-year be just

Jonathan Reeder

Perfect.

Okay.

yes? So weeks,

Dan Schuller

Yes.

Operator

from question next We'll HSBC. with take Mitchell our Verity

Verity Mitchell

that? give line color you then where a X question us just like with more if your the wouldn't count XXXX. know expectations? July from. for from want as being you questions. gas local, that stable calling weather customer August. the clearly, on about what second a is, bit not I to in in feel And been I want if One I'm the and to is us I've has Or got give is mean, I'm Because for

Dan Schuller

Yes.

count we up gas customers customers connections, be few customer year-on-year. tend well. a to we a stable lose with relatively will as So interesting, few but new It's pick

whereas to several of So is to that add. continue we business pretty in stable, the states, water close

that would on. places On the that be Pennsylvania, imagine tends the Texas, organic North side, you to going there's Carolina, building in growth

had summer, we're In say, had weather and Yes. time and it's warm in nice, it would started have of of terms hot with pretty again may the rain. the we in by mid-July off. seen of a in rain Texas. of seeing the I bit Pennsylvania part frame Texas the kind differs up, a the start We -- on of generally, weather, rainy of to more and spots kind country, here we've of been some but kind

we're kind the taking that's probably look further… of at color Chris, it. in at But give of So point, July just getting kind this numbers can a I here any and the

Chris Franklin

think area this give of a customers particularly in where dry, that's but you to have right. that Verity, grass. not the I their summer up lot and we be water Pennsylvania, in want dry on too people

could Philadelphia of on weeks there. so But water. And the the now. couple that's season. up the fifth X week. we coming normal. bring that's looking predicting pretty we'll think They're morning guess of see that what this days I where heat get right are today in next People in the here wave continue to We're XXs thinking news we our I it's

we'll sell So water. some maybe

Operator

next take our with Ben will question Baird. [Operator R.W. We Kallo Instructions] from

Ben Kallo

Maybe just -- you and on that plate? movement announcement I've Texas talk appealing is there. your how seen seen Could was haven't one, front, versus and some on bases, I've biz maybe there stuff lately. about more flurry a the just other dev I and maybe you on to to saw the of Can I missed then military that? the just you And it other talk Texas market

Chris Franklin

Yes.

open military municipal the is we the really very in market, states there. you That as been know, which where hasn't front, haven't -- focused on On played we are. we've largely been

military on I to played that know -- continue much moving But of forward. seen there. we've there haven't do And although some are -- just not So late, opportunities be I

always team you state on then guess active in We've obviously, and the high market starts sales in population numbers on legislative When you say, and show as focusing got water active front, I Texas. then housing the the boy, be look alone We've then, some at fair and Texas, growth in been and Texas, very on the So listen, we're on. there. on you very growth population value. know, active in very more a should

at optimistic And but taxes, Texas also everyone investor ago, to legislation I market only so for a in owned. reminded value about fair not stages the minute we're applies But new opening as to municipals the think but we're we municipal. just

open legislation the the that that it's market have to continuing So there, that matter of need. soil a and the pretty we wide now really market is and opening we

Ben Kallo

if on between about and they then look and the to there your works, that how utility local evolved -- your or that yet? could interaction And is it an Great. yet at that ESG ESG how front, maybe just you profile if hasn't commissions talk or

Chris Franklin

Sure.

I a there, continue natural those equity it the utilities not of we're call as individual up how to more I as go it those watching investors inclusion, carefully. aspects but diversity, begun But think -- very is are with certainly Other we seems with be the be to overall though, do certainly, the those said, we gas talk greenhouse issues regulators. point only topic how as I opposed to think around ESG to test there might if are gas level, mechanisms, already always to The to ESG. renewable there, and ESG, I'll interest don't discussed were and forming recovered. and have stay, and but costs overall think call environmental. be that and are They elements will regulators. I it, platform widely emissions, to here ESG, those

the us, environmental about where the side. So environmental think on at gas ESG, I as aspect we think we up that's form for of -- least

Dan Schuller

other And be customer just then, place programs. maybe assistance Chris, would the

Chris Franklin

point. Yes. Good

Dan Schuller

there. overlap Something

Chris Franklin

a doing Yes. we're Pennsylvania systems, around lot of particularly in Yes. customer right work now. And

Ben Kallo

the quarter. on Congrats

Operator

turn I no It to remarks. for further at are would Franklin this time. closing conference Mr. additional there questions back appears like to Chris the or any

Chris Franklin

thank Great. Thank I and follow-up the well. and are available for if questions are meantime, But Be you. attention. the appreciate Dan, for there Brian always I you questions us, and joining your in any.

Operator

today's concludes your for That Thank presentation. participation. you

may disconnect. now You

Essential Utilities (WTRG) 5 Aug 212021 Q2 Earnings call transcript