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  "documentTitle": "Essential Utilities, Inc. (WTRG)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-03-08 00:00:00",
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  "notes": "Includes a specific callout regarding a PUC audit report and a visual question mark highlighting the anomaly.",
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      "text": "How does a historical $16 - $20m cost turn into an $8m benefit?",
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      "text": "Operating Income: $14,163",
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      "text": "Other revenue and eliminations consist of WTRG's market-based revenues... Spruce Point is concerned by undisclosed restatements affecting these accounts which could potentially be used as a bucket to manage financial results.",
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      "text": "Source: Note 18, Segment Information, 2021 10-K, 2020 10-K",
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      "text": "Be Wary When \"Other\" Accounts Mysteriously Generate Large Profits Without Explanation...",
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