8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: August 6, 2020

(Date of earliest event reported)

THE YORK WATER COMPANY

(Exact name of registrant as specified in its charter)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  Emerging growth company  ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ◻

Securities registered pursuant to Section 12(g) of the Act:

THE YORK WATER COMPANY

On August 6, 2020, The York Water Company issued a press release announcing its second quarter and first six months 2020 financial results.  The press release is being furnished with this Current Report on Form 8-K Exhibit 99.1 and is hereby incorporated herein by reference.  This report (including the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

THE YORK WATER COMPANY

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Exhibit 99.1

YORK WATER COMPANY REPORTS 2^nd^ QUARTER AND SIX MONTHS EARNINGS

York, Pennsylvania, August 6, 2020:  The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the second quarter and the first six months of 2020.

President Hand reported that second quarter operating revenues of $13,320,000 increased $272,000 and net income of $4,182,000 increased $465,000 compared to the second quarter of 2019.  Earnings per share of $0.32 for the three-month period increased $0.04 compared to the same period last year.  Increased revenues were primarily due to higher per capita residential consumption and growth in the customer base.  The increased revenue was partially offset by higher operation and maintenance expenses and depreciation.  Interest expense decreased due to lower interest rates and income taxes decreased due to higher deductions from the IRS tangible property regulations.

President Hand also reported that the first six months operating revenues of $26,197,000 increased $1,318,000 and net income of $8,184,000 increased $1,654,000 compared to the first six months of 2019.  Increased revenues resulted primarily from the March 1, 2019 rate increase, higher per capita residential consumption, and growth in the customer base partially offset by lower Distribution System Improvement Charge (DSIC) after its reset to zero.  DSIC is a Pennsylvania Public Utility Commission (PPUC) allowed charge that water utilities collect from customers for the replacement of aging infrastructure.  The Company also recognized a non-recurring gain on life insurance.  The increased income was partially offset by higher operation and maintenance expenses and depreciation.  Interest expense decreased due to lower interest rates and income taxes decreased due to higher deductions from the IRS tangible property regulations.  Earnings per share of $0.63 for the six-month period increased $0.13 compared to the same period last year.

During the first six months of 2020, the Company invested $9.0 million in construction expenditures for replacement of a standpipe as well as various replacements and improvements to infrastructure.  The Company estimates it will invest an additional $12.6 million in 2020, excluding acquisitions, for additional main extensions, improvements to a raw water pumping station, expansion of a wastewater treatment plant, and routine improvements to its pipes, service lines, and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.

This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.