Essential Utilities Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw solid operational performance despite weather challenges, with adjusted EPS at $0.83 and $269 million invested in infrastructure. The merger with American Water remains on track, and the company reaffirmed its 5%-7% annual EPS growth target.
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The meeting established a quorum and presented three proposals: director elections, executive compensation approval, and auditor ratification. All proposals passed with the required votes, and final results will be filed with the SEC.
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Shareholders approved the merger agreement and related executive compensation, with strong majorities for both proposals. The adjournment proposal was not needed as the merger passed. Final results will be filed with the SEC.
Fiscal Year 2025
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Shareholders overwhelmingly approved the merger with American Water, and 2025 saw strong financial results with EPS of $2.20, record infrastructure investment, and continued dividend growth. Guidance for 5%-7% EPS growth through 2027 was reaffirmed.
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A transformational merger with American Water will create the largest U.S. water utility, while robust Q3 results saw revenue up 9.6% and EPS up 32% year-over-year. Guidance for 2025 and beyond remains strong, with significant infrastructure investments and new growth opportunities, including a major data center project.
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A major all-stock merger will create a leading regulated water and wastewater utility with a $34B rate base, 5.4M connections, and operations in 17 states. The deal, expected to close by end of 2027, targets 7–9% EPS growth, leverages operational synergies, and maintains customer affordability.
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Q2 2025 saw a 35% EPS increase and 18.5% revenue growth, with both water and gas segments performing strongly. Full-year GAAP EPS is expected above guidance, driven by non-recurring benefits, robust infrastructure investment, and continued dividend growth.
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Q1 2025 delivered strong 28% revenue growth and 6% EPS increase, with both water and gas segments performing well. Full-year EPS guidance and multi-year growth targets were reaffirmed, while infrastructure investment and regulatory progress support continued expansion.
Fiscal Year 2024
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GAAP EPS reached $2.17 in 2024, with adjusted EPS at $1.97, supported by disciplined cost control, record rate increases, and successful asset sales. Guidance calls for 5%-7% annual EPS growth and $8B in capital investment over five years, with strong regulatory and acquisition momentum.
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Q3 2024 delivered strong financials with 6% revenue growth and EPS of $0.25, supported by regulatory wins and robust capital investment. Multi-year EPS guidance of 5%-7% CAGR through 2027 was reinstated, with $7.8B in infrastructure investment planned through 2029.
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Q2 2024 EPS was $0.28, impacted by warmer weather and lower gas/water volumes, but guidance for 2024 EPS of $1.96–$2.00 is reaffirmed. Regulatory progress, capital investment, and a 6% dividend increase highlight ongoing growth and stability.