H2O America reports Q2 2026: Revenue $210.5M, Net Income $26.6M, Adj. diluted EPS $0.72

H2O America reported second-quarter 2026 operating revenue of $210.5 million and GAAP net income of $26.6 million, with GAAP diluted EPS of $0.62 and adjusted diluted EPS (non-GAAP) of $0.72. Year-to-date through June 30, 2026 the company recorded revenue of $393.8 million, GAAP net income of $45.6 million and adjusted diluted EPS of $1.23. The board declared a quarterly cash dividend of $0.44 per share, payable September 1, 2026.

Financial Highlights

• Operating revenue (Q2 2026): $210.5 million, up from $198.3 million in Q2 2025.
• Operating income (Q2 2026): $42.8 million (as reported).
• Net income (Q2 2026, GAAP): $26.6 million, compared with $24.7 million in Q2 2025.
• Reported diluted EPS (Q2 2026): $0.62; Adjusted diluted EPS (non-GAAP) (Q2 2026): $0.72 (Q2 2025 adjusted: $0.75).
• Six months ended June 30, 2026 — revenue: $393.8 million; GAAP net income: $45.6 million; adjusted diluted EPS (non-GAAP): $1.23.

Business Highlights

• Capital investment: $206.9 million invested in infrastructure through June 30, 2026; company plans $483 million of capital investment for full-year 2026 (excluding Quadvest).
• Quadvest acquisition progress: Key Texas regulatory milestones reached; PUCT staff recommended proceeding without a hearing and the company anticipates closing around end of Q3 or early Q4 2026.
• Quadvest operational growth: Active connections up 10% (about 5,400) in the first half of 2026; connections under contract and pending development increased ~11,900 to nearly 99,000 since Dec. 31, 2025.
• Regulatory activity: General rate cases filed — Connecticut requested $28.8 million annual revenue increase to recover ~$145 million of investments; Maine filed consolidated general rate case requesting $9.5 million increase to recover ~$36 million of investments; various surcharge and adjustment approvals noted across states (California, Connecticut, Maine, Texas).
• Dividend policy continuity: Board declared quarterly cash dividend of $0.44 per share (record date Aug. 10, 2026; payable Sept. 1, 2026); 2026 annualized dividend expected at $1.76 per share.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.