H2O America Announces Third Quarter 2025 Financial Results
H2O America (NASDAQ: HTO) reported third-quarter 2025 results with GAAP diluted EPS $1.27 and adjusted diluted EPS $1.27, an 8% increase vs. prior-year adjusted EPS. Q3 operating revenue was $240.6M (+7% year-over-year); YTD operating revenue was $606.4M (+10%). GAAP net income for Q3 was $45.1M (+17% YoY) and YTD GAAP net income was $86.4M (+22% YoY).
Company narrowed 2025 adjusted diluted EPS guidance to $2.95–$3.00, reaffirmed long-term diluted EPS growth of 5%–7% through 2029, declared a quarterly cash dividend of $0.42 per share (payable Dec 1, 2025), and invested $357.8M in infrastructure (≈74% of 2025 forecast). Quadvest acquisition process is underway; active connections up 11.5% (5,400) YTD.
H2O America (NASDAQ: HTO) ha riportato i risultati del terzo trimestre 2025 con EPS diluito GAAP di $1,27 e EPS diluito rettificato di $1,27, un aumento dell'8% rispetto all'EPS rettificato dell'anno precedente. Il fatturato operativo del Q3 è stato $240,6M (+7% anno su anno); i ricavi operativi da inizio anno (YTD) sono stati $606,4M (+10%). L'utile netto GAAP per il Q3 è stato $45,1M (+17% YoY) e l'utile netto GAAP YTD è stato $86,4M (+22% YoY).
La compagnia ha ridotto la guidance per l'EPS diluito rettificato 2025 a $2,95–$3,00, ha ribadito la crescita dell'EPS diluito a lungo termine del 5%–7% entro il 2029, ha dichiarato un dividendo in contanti trimestrale di $0,42 per azione (pagabile 1 dicembre 2025), e ha investito $357,8M in infrastrutture (circa il 74% delle previsioni 2025). Il processo di acquisizione Quadvest è in corso; le connessioni attive sono aumentate dell'11,5% (5.400) YTD.
H2O America (NASDAQ: HTO) informó los resultados del tercer trimestre de 2025 con EPS diluido GAAP de $1,27 y EPS diluido ajustado de $1,27, un aumento del 8% respecto al EPS ajustado del año anterior. Los ingresos operativos del Q3 fueron de $240,6M (+7% interanual); los ingresos operativos acumulados del año (YTD) fueron de $606,4M (+10%). El ingreso neto GAAP del Q3 fue de $45,1M (+17% interanual) y el ingreso neto GAAP YTD fue de $86,4M (+22% interanual).
La empresa redujo la guía de EPS diluido ajustado para 2025 a $2,95–$3,00, reafirmó el crecimiento a largo plazo del EPS diluido del 5%–7% hasta 2029, declaró un dividendo en efectivo trimestral de $0,42 por acción (pagadero el 1 de diciembre de 2025), e invirtió $357,8M en infraestructuras (aprox. 74% del pronóstico 2025). El proceso de adquisición de Quadvest está en marcha; las conexiones activas aumentaron un 11,5% (5,400) YTD.
H2O America (NASDAQ: HTO)는 2025년 3분기 실적을 발표했고 GAAP 희석 EPS 1.27달러와 조정 희석 EPS 1.27달러를 기록했으며, 전년 동기 조정 EPS 대비 8% 증가했습니다. 3분기 영업수익은 2,406만 달러(+전년 동기 대비 7%); 연간 누적 영업수익은 6,064만 달러(+10%)이었습니다. GAAP 3분기 순이익은 4,510만 달러(+전년 대비 17%), 연간 누적 GAAP 순이익은 8,640만 달러(+22%)였습니다.
회사는 2025년 조정 희석 EPS 가이던스를 2.95–3.00달러로 축소했고, 2029년까지의 장기 희석 EPS 성장률을 5%–7%로 재확인했으며, 주당 0.42달러의 분기 현금 배당금을 선언했고(2025년 12월 1일 지급 예정), 인프라에 3.578억 달러를 투자했고(2025년 전망의 약 74%), Quadvest 인수 절차가 진행 중이며 연간 활성 연결이 11.5% 증가했습니다.
H2O America (NASDAQ: HTO) a publié les résultats du troisième trimestre 2025 avec un EPS dilué GAAP de 1,27 $ et un EPS dilué ajusté de 1,27 $, soit une hausse de 8 % par rapport à l'EPS ajusté de l'année précédente. Le chiffre d'affaires opérationnel du T3 était de 2,406 M$ (+7 % sur un an); le chiffre d'affaires opérationnel cumulé (YTD) était de 6,064 M$ (+10 %). Le résultat net GAAP du T3 était de 4,51 M$ (+17 % YoY) et le résultat net GAAP YTD était de 8,64 M$ (+22 % YoY).
L'entreprise a abaissé les prévisions d'EPS dilué ajusté pour 2025 à 2,95–3,00 $, réaffirmé la croissance à long terme de l'EPS dilué de 5%–7% d'ici 2029, a déclaré un dividende trimestriel en espèces de 0,42 $ par action (payable le 1er décembre 2025), et a investi 357,8 M$ dans les infrastructures (environ 74% des prévisions 2025). Le processus d'acquisition Quadvest est en cours; les connexions actives ont augmenté de 11,5% (5 400) YTD.
H2O America (NASDAQ: HTO) meldete die Ergebnisse des dritten Quartals 2025 mit GAAP verdünntem EPS von 1,27 $ und bereinigtem verdünntem EPS von 1,27 $, was einer Steigerung von 8% gegenüber dem Vorjahr beim bereinigten EPS entspricht. Der operative Umsatz im Q3 betrug 240,6 Mio. $ (+7% im Jahresvergleich); der YTD-operative Umsatz betrug 606,4 Mio. $ (+10%). GAAP-Nettoeinkommen im Q3 betrug 45,1 Mio. $ (+17% YoY) und GAAP-Nettoeinkommen YTD betrug 86,4 Mio. $ (+22% YoY).
Das Unternehmen senkte die Guidance für das 2025er bereinigte verdünnte EPS auf 2,95–3,00 $, bekräftigte das langfristige Wachstum des verdünnten EPS von 5%–7% bis 2029, erklärte eine vierteljährliche Bardividende von 0,42 $ pro Aktie (Zahlung am 1. Dez 2025) und investierte 357,8 Mio. $ in Infrastruktur (ca. 74% der 2025er Prognose). Der Quadvest-Übernahmeprozess läuft; aktive Verbindungen stiegen um 11,5% (5.400) YTD.
H2O America (NASDAQ: HTO) أبلغت عن نتائج الربع الثالث من عام 2025 مع ربح السهم المخفّف وفق GAAP 1.27 دولار و ربح السهم المخفّف المعدل 1.27 دولار، لارتفاع قدره 8% مقارنة بـ EPS المعدل للسنة السابقة. كان الإيراد التشغيلي للربع الثالث 240.6 مليون دولار (+7% على أساس سنوي)؛ وكان الإيراد التشغيلى منذ بداية السنة حتى الآن 606.4 مليون دولار (+10%). كان صافي الدخل وفق GAAP للربع الثالث 45.1 مليون دولار (+17% على أساس سنوي)، وصافي دخل GAAP منذ بداية السنة حتى الآن 86.4 مليون دولار (+22% على أساس سنوي).
قَصَرت الشركة توجيهات EPS المخفّف المعدّل لعام 2025 إلى 2.95–3.00 دولار، وأكدت نمو EPS المخفّف على المدى الطويل بنسبة 5%–7% حتى 2029، وأعلنت عن توزيعا نقدياً ربع سنويًا قدره 0.42 دولارًا للسهم (سوف يُدفع في 1 ديسمبر 2025)، واستثمرت 357.8 مليون دولار في البنية التحتية (حوالي 74% من توقعات 2025). عملية الاستحواذ Quadvest جارية؛ ارتفع عدد الاتصالات النشطة بنحو 11.5% (5,400) حتى تاريخه.
H2O America (NASDAQ: HTO) 报告了 2025 年第三季度业绩，GAAP 稀释后每股收益 1.27 美元，调整后稀释后每股收益 1.27 美元，较上年调整後 EPS 增长 8%。第三季度营业收入为 2,406 万美元 (+7% year over year)；年初至今营业收入为 6,064 万美元 (+10%)。GAAP 第三季度净利润为 4,510 万美元 (+17% YoY)，年初至今 GAAP 净利润为 8,640 万美元 (+22%)。
公司将 2025 年调整后稀释 EPS 指引缩窄至 2.95–3.00 美元，重申到 2029 年的长期稀释 EPS 增长目标为 5%–7%，宣布每股 0.42 美元的季度现金股息（于 2025 年 12 月 1 日支付），并在基建领域投资了 3.578 亿美元（约占 2025 年预测的 74%）。Quadvest 收购进程正在进行中；年初至今的活跃连接增加了 11.5%（5,400 条）。
- Adjusted diluted EPS +8% in Q3 2025
- YTD adjusted diluted EPS +14% through Sep 30, 2025
- Operating revenue YTD $606.4M (+10% YoY)
- Narrowed 2025 adjusted EPS guidance to $2.95–$3.00
- Declared quarterly dividend $0.42; 2025 annualized $1.68
- Infrastructure spend $357.8M (≈74% of 2025 plan)
- Operating expenses Q3 +6% and YTD +9% through Sep 30, 2025
- Administrative and production costs increased (pensions, wages, pass-throughs)
- Effective consolidated tax rate rose to ~14% YTD
- Regulatory adjustments reduced revenue $3.9M in Q3 and $6.3M YTD
Insights
Solid operational earnings growth, narrowed guidance, and accretive M&A progress point to a positive near-term outlook.
H2O America delivered clear year-over-year improvements: third-quarter GAAP diluted EPS of
Key dependencies and risks remain regulatory and integration outcomes; the Quadvest acquisition is progressing through the PUCT FMV appraisal process with disclosure expected by
Concrete items to watch: the PUCT FMV determination by
- Third quarter 2025 reported diluted EPS of
$1.27 and adjusted diluted EPS (non-GAAP)1 of$1.27 , an8% increase in adjusted diluted EPS over the prior year - 2025 year-to-date reported diluted EPS of
$2.48 and adjusted diluted EPS (non-GAAP)1 of$2.53 , a14% increase in adjusted diluted EPS over the prior year - 2025 adjusted diluted EPS guidance narrowed to
$2.95 t o$3.00 1, the top half of the original range. No change to the long-term diluted EPS growth target - Quadvest approval process underway, active connections up
11.5% , or 5,400 connections, between December 31, 2024 and September 30, 2025 - Declared
$0.42 cash dividend per share of common stock
SAN JOSE, Calif., Oct. 27, 2025 (GLOBE NEWSWIRE) -- H2O America (NASDAQ: HTO) today reported financial results for the third quarter of 2025.
“This quarter’s performance reflects our team’s continued focus on delivering sustainable growth and long-term value,” said chief executive officer, Andrew F. Walters. “We made meaningful progress on our strategic priorities, including advancing the acquisition of Quadvest and reaching an agreement to acquire the Cibolo Valley wastewater system - both of which will significantly expand our presence in Texas. We also secured key regulatory approvals, including a
Continued Walters, “These milestones, combined with strong financial results and disciplined infrastructure investment, reinforce our confidence in meeting our full-year guidance and achieving our long-term growth objectives.”
Third Quarter 2025 Operating Results
Net income prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for the quarter ended September 30, 2025 was
The difference between GAAP net income and adjusted net income for the quarter ended September 30, 2025 was due to expenses incurred for merger and acquisition activities of
Operating revenue for the third quarter was
Operating expenses for the quarter ended September 30, 2025 were
- An increase in water production expenses of
$2.6 million compared to the same quarter last year primarily due to increases in average per unit costs for purchased water and groundwater extraction, partially offset by decreases in production volume; and - An increase in administrative and general expenses of
$5.6 million primarily attributable to increases in pension costs, salaries and wages, and inflationary increases, partially offset by higher allocations to construction activities.
The effective consolidated income tax rates for the third quarter of 2025 and 2024 were approximately
Year-to-Date Operating Results
Net income prepared in accordance with GAAP for the nine months through September 30, 2025 was
Operating revenue year-to-date was
Operating expenses for the first nine months of 2025 were
- An increase in water production expenses of
$20.2 million compared to the same period last year primarily related to increased water pass-through costs, decreases in availability of surface water and higher customer usage; and - An increase in administrative and general expenses of
$15.9 million primarily due to an increase related to customer credit losses as a result of the collection of funds in the prior year from the California Extended Water and Wastewater Arrearage Payment Program, as well as increases in acquisition costs, salaries and wages, pension costs, insurance and contracted work.
The effective consolidated income tax rates for the first nine months of 2025 and 2024 were approximately
Capital Expenditures
Through September 30, 2025, H2O America has invested
Growth through Acquisition
Texas Water and Texas Water Operation Services continue to progress through the regulatory process for their previously announced acquisition of Quadvest. On August 8, 2025, the Public Utility Commission of Texas (PUCT) appointed three appraisers to determine the fair market value (FMV) of the regulated water and wastewater assets being acquired, as required under Texas regulation. The FMV determination will be the average of the three appraisals and the company expects to publicly disclose the FMV determination by early 2026.
Quadvest continues to achieve its anticipated customer growth. Specifically, year-to-date total active connections are up
On August 26, 2025, the Company, through the Texas Water subsidiary, entered into an agreement to acquire a portion of the assets of South Central Water Company, a privately owned wastewater company in Bulverde, Texas, specifically the Cibolo Valley wastewater treatment plant and associated collection systems. Texas Water plans to also use the FMV approach for this acquisition.
Rate Activity and Regulatory Updates
Connecticut
On July 30, 2025, Connecticut Water filed for a Water Infrastructure and Conservation Adjustment (WICA) increase of
Maine
On September 22, 2025, Maine Water filed a rate design proposal as part of its rate unification proceeding before the Maine Public Utilities Commission (MPUC). The rate design is revenue neutral as it is intended to better align rates in its ten districts. If approved, the rate design would also offer Maine Water's first affordability rate. A decision is expected from the MPUC in the first quarter of 2026.
Texas
On October 6, 2025, after the quarter end, Texas Water filed an application with the PUCT to increase the system improvement charge (SIC) by
2025 and Long-Term Guidance
The company is narrowing 2025 adjusted diluted EPS guidance to
Our guidance is subject to risks and uncertainties, including, without limitation, those factors outlined in the Forward-Looking Statements of this release and the Risk Factors section of the company’s annual and quarterly reports filed with the Securities and Exchange Commission.
Dividend
On October 24, 2025, the Board of Directors of H2O America declared a quarterly cash dividend on common stock of
Dividends have been paid on H2O America’s and its predecessor’s common stock for more than 80 consecutive years, and the annual dividend amount has increased for 57 consecutive years, placing H2O America in an exclusive group of companies.
Financial Results Call Information
Andrew F. Walters, chief executive officer, Ann P. Kelly, chief financial officer and treasurer, and Bruce A. Hauk, president and chief operating officer, will review results for the third quarter in a live webcast presentation at 11 a.m. Pacific Daylight Time, or 2 p.m. Eastern Daylight Time, on Tuesday, October 28, 2025.
Interested parties may access the webcast and related presentation materials at the website www.sjwgroup.com. An archive of the webcast will be available until January 19, 2026.
Non-GAAP Financial Measures
H2O America's net income and diluted EPS are prepared in accordance with GAAP and represent the earnings as reported to the Securities and Exchange Commission. Adjusted net income and Adjusted diluted EPS are non-GAAP financial measures representing GAAP earnings adjusted to exclude the effects of non-utility real estate transactions and costs associated with mergers and acquisition activities, if any. These non-GAAP financial measures are provided as additional information for investors to evaluate the performance of H2O America's business activities excluding these items. Management also believes these non-GAAP financial measures help investors and analysts better understand our actual results compared to our guidance on a non-GAAP basis. H2O America uses adjusted net income and/or adjusted diluted EPS as the primary performance measurements when communicating with analysts and investors regarding our outlook and results. Adjusted net income and Adjusted diluted EPS are also used internally to measure performance. However, these non-GAAP financial measures may be different from non-GAAP financial measures used by other companies, even when the same or similarly titled terms are used to identify such measures, limiting their usefulness for comparative purposes. Further, these non-GAAP financial measures should be considered as a supplement to the financial information prepared on a GAAP basis rather than an alternative to the respective GAAP financial measures.
About H2O America
H2O America is among the largest investor-owned pure-play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to over 1.6 million people. H2O America’s locally led and operated water utilities - San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba The Texas Water Company) in Texas - possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. H2O America remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its stockholders. For more information about H2O America, please visit www.H2O-America.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws relating to future events and future results of H2O America and its subsidiaries that are based on current expectations, estimates, forecasts, and projections about H2O America and its subsidiaries and the industries in which H2O America and its subsidiaries operate and the beliefs and assumptions of the management of H2O America. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “estimates,” “anticipates,” “intends,” “seeks,” “plans,” “projects,” “may,” “should,” “will,” “approximately,” “strategy,” or the negative of those words or other comparable terminology. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.
The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the risks associated with the proposed transactions with Quadvest, including, the risk of the proposed transactions not closing on the anticipated timeline, or at all, the ability to obtain required regulatory approvals, and the ability to successfully integrate Quadvest’s operations and realize the projected financial and other benefits of the proposed transactions; (2) the effect of water, utility, environmental and other governmental policies and regulations, including regulatory actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures, PFAS and other decisions; (3) changes in demand for water and other services; (4) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (5) the effect of the impact of climate change; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (9) the risk of work stoppages, strikes and other labor-related actions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (11) changes in general economic, political, legislative, business and financial market conditions; and (12) the ability to obtain financing on favorable terms, or at all (including the financing for the proposed transactions with Quadvest in a timely manner), which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions. The risks, uncertainties and other factors may cause the actual results, performance or achievements of H2O America to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Results for a quarter are not indicative of results for a full year due to seasonality and other factors. In addition, actual results, performance or achievements are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the SEC, including our most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of future performance, and speak only as of the date made, and H2O America undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
H2O America Contacts:
Ann P. Kelly
Chief Financial Officer and Treasurer
408.385.4752
Ann.Kelly@H2O-America.com
Jonathan Reeder
Senior Director of Treasury and Investor Relations
475.414.1034
Jonathan.Reeder@H2O-America.com
______________________________
1 Adjusted net income and adjusted diluted EPS are non-GAAP financial measures as defined below. See the tables below for reconciliations to the most comparable GAAP measures. Information reconciling adjusted diluted EPS guidance to the comparable GAAP financial measure is unavailable to the company without unreasonable effort, as discussed below.
2 Includes both utility plant additions and capitalizable costs associated with cloud-computing arrangements.
| H2O America Condensed Consolidated Statements of Income (Unaudited) (in thousands, except share and per share data) | |||||||||||||
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Operating revenue | $ | 240,550 | 225,063 | $ | 606,404 | 550,619 | |||||||
| Operating expense: | |||||||||||||
| Production Expenses: | |||||||||||||
| Purchased water | 38,163 | 54,310 | 101,537 | 118,631 | |||||||||
| Power | 8,175 | 3,396 | 15,509 | 8,560 | |||||||||
| Groundwater extraction charges | 39,608 | 25,081 | 84,253 | 54,759 | |||||||||
| Other production expenses | 12,374 | 12,919 | 36,857 | 36,020 | |||||||||
| Total production expenses | 98,320 | 95,706 | 238,156 | 217,970 | |||||||||
| Administrative and general | 31,306 | 25,708 | 87,861 | 71,964 | |||||||||
| Maintenance | 8,016 | 8,512 | 22,985 | 23,080 | |||||||||
| Property taxes and other non-income taxes | 9,516 | 9,361 | 27,217 | 26,610 | |||||||||
| Depreciation and amortization | 28,765 | 27,423 | 85,797 | 84,159 | |||||||||
| Total operating expense | 175,923 | 166,710 | 462,016 | 423,783 | |||||||||
| Operating income | 64,627 | 58,353 | 144,388 | 126,836 | |||||||||
| Other (expense) income: | |||||||||||||
| Interest on long-term debt and other interest expense | (17,898 | ) | (17,516 | ) | (54,292 | ) | (53,394 | ) | |||||
| Pension non-service credit | 1,587 | 940 | 4,810 | 2,829 | |||||||||
| Other, net | 2,607 | (1,197 | ) | 5,384 | 2,659 | ||||||||
| Income before income taxes | 50,923 | 40,580 | 100,290 | 78,930 | |||||||||
| Provision for income taxes | 5,791 | 1,928 | 13,932 | 7,883 | |||||||||
| Net income | 45,132 | 38,652 | 86,358 | 71,047 | |||||||||
| Other comprehensive loss, net | — | — | — | (442 | ) | ||||||||
| Comprehensive income | $ | 45,132 | 38,652 | $ | 86,358 | 70,605 | |||||||
| Earnings per share | |||||||||||||
| —Basic | $ | 1.27 | 1.17 | $ | 2.49 | 2.19 | |||||||
| —Diluted | $ | 1.27 | 1.17 | $ | 2.48 | 2.18 | |||||||
| Dividends per share | $ | 0.42 | 0.40 | $ | 1.26 | 1.20 | |||||||
| Weighted average shares outstanding | |||||||||||||
| —Basic | 35,543,224 | 32,896,967 | 34,706,183 | 32,458,666 | |||||||||
| —Diluted | 35,643,826 | 32,982,580 | 34,797,374 | 32,530,954 | |||||||||
| H2O America Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) | ||||
| September 30, 2025 | December 31, 2024 | |||
| Assets | ||||
| Utility plant: | ||||
| Land | $ | 44,657 | 44,657 | |
| Depreciable plant and equipment | 4,526,148 | 4,249,314 | ||
| Construction work in progress | 277,948 | 179,486 | ||
| Intangible assets | 51,683 | 51,604 | ||
| Total utility plant | 4,900,436 | 4,525,061 | ||
| Less: accumulated depreciation and amortization | 1,102,312 | 1,036,450 | ||
| Net utility plant | 3,798,124 | 3,488,611 | ||
| Nonutility properties | 1,314 | 1,314 | ||
| Less: accumulated depreciation | 101 | 98 | ||
| Net nonutility properties | 1,213 | 1,216 | ||
| Current assets: | ||||
| Cash and cash equivalents | 11,314 | 11,114 | ||
| Accounts receivable: | ||||
| Customers, net of allowances for credit losses of | 86,008 | 68,679 | ||
| Income tax | — | 5,953 | ||
| Other | 6,490 | 7,059 | ||
| Accrued unbilled revenue | 73,131 | 60,847 | ||
| Prepaid expenses | 15,989 | 10,297 | ||
| Current regulatory assets | 7,047 | 18,172 | ||
| Other current assets | 7,227 | 8,593 | ||
| Total current assets | 207,206 | 190,714 | ||
| Other assets: | ||||
| Regulatory assets, less current portion | 242,376 | 224,055 | ||
| Investments | 19,271 | 18,087 | ||
| Postretirement benefit plans | 70,092 | 66,422 | ||
| Goodwill | 640,311 | 640,311 | ||
| Other | 32,061 | 28,893 | ||
| Total other assets | 1,004,111 | 977,768 | ||
| Total assets | $ | 5,010,654 | 4,658,309 | |
| H2O America Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) | ||||
| September 30, 2025 | December 31, 2024 | |||
| Capitalization and liabilities | ||||
| Capitalization: | ||||
| Stockholders’ equity: | ||||
| Common stock, | $ | 36 | 34 | |
| Additional paid-in capital | 941,759 | 827,796 | ||
| Retained earnings | 579,908 | 537,184 | ||
| Accumulated other comprehensive income | 1,960 | 1,960 | ||
| Total stockholders’ equity | 1,523,663 | 1,366,974 | ||
| Long-term debt, less current portion | 1,756,955 | 1,706,904 | ||
| Total capitalization | 3,280,618 | 3,073,878 | ||
| Current liabilities: | ||||
| Lines of credit | 126,368 | 119,124 | ||
| Current portion of long-term debt | 18,010 | 3,648 | ||
| Accrued groundwater extraction charges, purchased water and power | 42,457 | 25,118 | ||
| Accounts payable | 61,238 | 56,256 | ||
| Accrued interest | 18,319 | 17,476 | ||
| Accrued payroll | 13,596 | 15,193 | ||
| Current regulatory liabilities | 3 | 1,122 | ||
| Other current liabilities | 24,172 | 23,236 | ||
| Total current liabilities | 304,163 | 261,173 | ||
| Deferred income taxes | 302,959 | 276,043 | ||
| Advances for construction | 183,892 | 155,397 | ||
| Contributions in aid of construction | 343,295 | 340,738 | ||
| Postretirement benefit plans | 44,264 | 45,063 | ||
| Regulatory liabilities, less current portion | 528,206 | 483,719 | ||
| Other noncurrent liabilities | 23,257 | 22,298 | ||
| Commitments and contingencies | ||||
| Total capitalization and liabilities | $ | 5,010,654 | 4,658,309 | |
| H2O America Reconciliation of Non-GAAP Financial Measures (Unaudited) (in thousands, except per share data) | |||||||||||||
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Reported GAAP Net Income | $ | 45,132 | 38,652 | $ | 86,358 | 71,047 | |||||||
| Adjustments: | |||||||||||||
| (Gain)/loss on sale of real estate investments1 | (273 | ) | 60 | (273 | ) | 969 | |||||||
| Expense for merger and acquisition activities2 | 700 | 361 | 3,048 | 361 | |||||||||
| Tax effect of above adjustments3 | (109 | ) | (120 | ) | (766 | ) | (411 | ) | |||||
| Adjusted Net Income (non-GAAP) | $ | 45,450 | 38,953 | $ | 88,367 | 71,966 | |||||||
| Reported GAAP Diluted Earnings Per Share | $ | 1.27 | 1.17 | $ | 2.48 | 2.18 | |||||||
| Adjustments: | |||||||||||||
| (Gain)/loss on sale of real estate investments, net of tax | (0.01 | ) | — | (0.01 | ) | 0.02 | |||||||
| Expense for merger and acquisition activities, net of tax | 0.01 | 0.01 | 0.06 | 0.01 | |||||||||
| Adjusted Diluted Earnings Per Share (non-GAAP) | $ | 1.27 | 1.18 | $ | 2.53 | 2.21 | |||||||
1 Included in the "Other, net" line on the condensed consolidated statements of comprehensive income.
2 Included in the "Administrative and general" line on the condensed consolidated statements of income.
3 The tax effect on all adjustments is calculated at the applicable statutory rate.
FAQ
What were H2O America (HTO) third-quarter 2025 adjusted EPS and GAAP EPS?
How did H2O America (HTO) revenue perform year-to-date through Sep 30, 2025?
What guidance did H2O America (HTO) give for 2025 adjusted diluted EPS on Oct 27, 2025?
What dividend did H2O America (HTO) declare and when is it payable?
What progress did H2O America (HTO) report on the Quadvest acquisition as of Oct 27, 2025?
How much has H2O America (HTO) invested in infrastructure through Sep 30, 2025?
