YORK WATER Business Summary

York Water Co (YORW) operates as a regulated public utility, generating revenue through a rate-based model authorized by the Pennsylvania Public Utility Commission (PUC). The company’s primary business segments are water services—encompassing impounding, purification, and distribution—and wastewater collection and treatment, serving over 57 municipalities in south-central Pennsylvania. Revenue is heavily weighted toward residential customers (64%), with commercial and industrial accounts contributing 29%, and growth is sustained through strategic acquisitions and the Distribution System Improvement Charge (DSIC). In the competitive landscape, York Water distinguishes itself from larger national entities like American Water Works (AWK) and Essential Utilities (WTRG) and regional peers such as Middlesex Water (MSEX) and Artesian Resources (ARTNA) by maintaining its status as the nation’s oldest investor-owned utility, characterized by a low-beta profile and a record-breaking 210-year consecutive dividend streak. Established in 1816, York Water is currently led by President and CEO Joseph "JT" Hand, who transitioned from the COO role in 2020 and oversees the firm’s long-term infrastructure strategy. The leadership team includes CFO Matthew E. Poff, a veteran financial executive who previously served as the company’s Controller, and Chief Administrative Officer Alexandra Chiaruttini, whose pedigree includes serving as Chief Counsel to the Pennsylvania Department of Environmental Protection. Matthew Scarpato, elevated to COO in October 2025, manages day-to-day operations, while VP of Engineering Mark Snyder directs capital projects. The company is governed by an experienced board, which recently saw the retirement of long-time chair George W. Hodges in February 2026, and maintains a strong institutional shareholder base featuring Vanguard, BlackRock, and Invesco.