Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Capital Expenditures
Capital Expenditures in the third quarter of 2020 were $5.2 million as compared to $6.9 million
in the third quarter of 2019. Capital Expenditures for the year-to-date were $5.8 million as
compared to $9.4 million in 2019,
Major expenditures in the nine months of 2020 included:
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Unaudited Cash Flow Statement
Cash Flow on a GAAP basis for the third quarter of 2020 as compared to the third quarter of
2019, and the year-to-date 2020 versus 2019, are as follows:
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Notes to Balance Sheet
Note 1 (Restricted Cash) — At September 30, 2020, the balance of $10.3 million represents an
increase of $8.3 million from the end of 2019, mainly due to (1) the cash generated from the
increased revenue levels year-over-year; and (2) the additional proceeds received from
Pennichuck Water’s September 2" bonding event as a one-time replenishment of the existing
MOERR Rate Stabilization Fund.
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Operating Income has increased year-over-year as a result of the variation in revenue and
operating expense levels recognized for the quarter and year-to-date.
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Unaudited Financial Highlights
Financial highlights on a Generally Accepted Accounting Principles (“GAAP”) basis for the
third quarter of 2020 as compared to the third quarter of 2019, and the nine months of 2020 as
compared to the nine months of 2019, are as follows:
(000s)
Quarter Ended Year-to-Date
September 30, 2020 September 30,2019 September 30.2020 September 30, 2019
Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)
Executive Summary
(O PENNICHUCK®
Pennichuck Corporation
Quarterly Report to the
Sole Shareholder
(City of Nashua Board of Aldermen)
Quarter Ended September 30, 2020
V2 PENNICHUCK:?
VIA HAND DELIVERY
March 31, 2021
Ms. Lori Wilshire, President
Board of Aldermen
City of Nashua
229 Main Street
Nashua, NH 03060
Dear President Wilshire:
25 WALNUT STREET
PO BOX 428
NASHUA, NH 03061-0428
(603) 882-5191
FAX (603) 913-2305
WWW.PENNICHUCK.COM
On behalf of the Pennichuck Corporation Board of Directors, I am enclosing the following items
with respect to the Annual Meeting of Sole Shareholder to be held on Saturday, May 8, 2021:
V2 PENNICHUCK®
March 31, 2021
Ms. Lori Wilshire
President, Board of Aldermen
City of Nashua
229 Main Street
Nashua, NH 03060
Dear President Wilshire:
25 WALNUT STREET
PO BOX 428
NASHUA, NH 03061-0428
(603) 882-5191
FAX (603) 913-2305
WWW.PENNICHUCK.COM
Enclosed for your information is the Pennichuck Corporation Quarterly Report to the Sole
Shareholder for the Quarter Ended September 30, 2020.
