Jun 2026 (Q2 FY26) — Aug 5, 2026
Essential Utilities Q2 FY26 — Merger Progress and Reaffirmed EPS Guidance
Read the full callEssential Utilities (WTRG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Essential Utilities earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 531 | +3.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 36.4 | +0.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 106 | −1.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 30 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY24 net income per share (adjusted) | $1.96 to $2.00, excluding gain on sale of energy project, weather-normalized | Jun 2024 | We remain fully committed to our long-term target of 5% to 7% normalized earnings per share growth using our non-GAAP 2024 results of $1.97 per share as our baseline. | Achieved |
| American Water merger closing timeline | finalized during the first quarter of 2027 | Jun 2026 | We continue to expect the merger to be finalized during the first quarter of 2027. | New |
30 of Essential Utilities, Inc.'s 33 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 31 more targets are in the full ledger.
Claimed
- Reported non-GAAP EPS of $0.38 for Q2 FY26, excluding merger-related costs.
- Reaffirmed multi-year EPS growth guidance of 5% to 7% through 2027, anchored to a non-GAAP 2024 baseline of $1.97 per share.
- Invested a record $662 million year-to-date, on track for $1.7 billion in infrastructure improvements for FY26.
- Completed the acquisition of Integra Water LLC for $4.9 million, adding 1,100 customers.
- Increased quarterly cash dividend by 5.25%, maintaining an 80-year track record of consecutive quarterly cash dividends.
Qualified
- GAAP EPS of $0.37 for Q2 FY26 included $0.01 of merger-related costs.
- Higher operating expenses increased by $0.02 per share, driven by employee-related costs and production costs.
- Lower gas volumes impacted EPS by $0.02 per share.
- Increased depreciation and higher interest/lower AFUDC collectively impacted EPS by $0.06 per share.
- The DELCORA transaction remains stalled by a federal bankruptcy court stay, though it is assumable by American Water post-merger.
Price
$40.29 +1.10% · +$0.44
Performance +0.9% 1Y
1Y: $39.95 on 14 Oct 2025 → $40.29. High $42 (9 Sept 2026), low $36.25 (1 Jun 2026).
- Previous close
- $39.85
- 52-week range
- $36.25 – $42
- One year
- −0.93%
Overview
- Symbol
- WTRG
- Sector
- Utilities
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 30 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY24 net income per share (adjusted) | $1.96 to $2.00, excluding gain on sale of energy project, weather-normalized | Jun 2024 | We remain fully committed to our long-term target of 5% to 7% normalized earnings per share growth using our non-GAAP 2024 results of $1.97 per share as our baseline. | Achieved |
| American Water merger closing timeline | finalized during the first quarter of 2027 | Jun 2026 | We continue to expect the merger to be finalized during the first quarter of 2027. | New |
Claimed
- Reported non-GAAP EPS of $0.38 for Q2 FY26, excluding merger-related costs.
- Reaffirmed multi-year EPS growth guidance of 5% to 7% through 2027, anchored to a non-GAAP 2024 baseline of $1.97 per share.
- Invested a record $662 million year-to-date, on track for $1.7 billion in infrastructure improvements for FY26.
- Completed the acquisition of Integra Water LLC for $4.9 million, adding 1,100 customers.
- Increased quarterly cash dividend by 5.25%, maintaining an 80-year track record of consecutive quarterly cash dividends.
Qualified
- GAAP EPS of $0.37 for Q2 FY26 included $0.01 of merger-related costs.
- Higher operating expenses increased by $0.02 per share, driven by employee-related costs and production costs.
- Lower gas volumes impacted EPS by $0.02 per share.
- Increased depreciation and higher interest/lower AFUDC collectively impacted EPS by $0.06 per share.
- The DELCORA transaction remains stalled by a federal bankruptcy court stay, though it is assumable by American Water post-merger.
The full ledger
Open Essential Utilities, Inc.’s full ledger
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Call summaries
Dec 2025 (FY25) — Feb 26, 2026
Essential Utilities FY25 — Strong Earnings Outperformance and Merger Progress
Read the full callEvery analysed call
Essential Utilities earnings calls (WTRG)
Financials
What the filings say
Net profit, year on year: −2% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 435 | 604 | 784 | 515 | 477 | 699 | 862 | 531 |
| Expenses | 280 | 378 | 445 | 330 | 307 | 472 | 551 | 338 |
| Operating profit | 155 | 227 | 339 | 185 | 170 | 227 | 311 | 193 |
| Operating margin | 35.6% | 37.5% | 43.3% | 36.0% | 35.6% | 32.5% | 36.0% | 36.4% |
| Interest | 77 | 79 | 82 | 80 | 82 | 85 | 87 | 89 |
| Profit before tax | 85 | 156 | 263 | 112 | 96 | 148 | 231 | 109 |
| Tax rate | 18.6% | −18.5% | −7.8% | 4.1% | 4.5% | 10.3% | 2.8% | 3.1% |
| Net profit | 69 | 185 | 284 | 108 | 92 | 133 | 224 | 106 |
| EPS ($ per share) | 0.25 | — | 1.03 | 0.38 | 0.33 | — | 0.79 | 0.37 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 91 | 112 | 124 | 128 | 133 | 138 | 139 | 143 |
| Reserves | 1,174 | 1,210 | 1,262 | 1,434 | 1,534 | 1,707 | 1,949 | 2,281 |
| Total liabilities | 4,955 | 5,481 | 9,021 | 9,474 | 10,342 | 10,945 | 11,828 | 12,607 |
| Fixed assets | 5,930 | 6,346 | 9,513 | 10,252 | 11,131 | 12,097 | 13,143 | 14,264 |
| Total assets | 6,964 | 9,362 | 13,705 | 14,658 | 15,719 | 16,841 | 18,027 | 19,465 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 369 | 339 | 508 | 645 | 600 | 934 | 770 | 1,010 |
| Cash from investing | -640 | -605 | -4,334 | -1,056 | -1,178 | -1,222 | -1,163 | -1,511 |
| Cash from financing | 271 | 2,131 | 1,962 | 417 | 579 | 281 | 397 | 526 |
| Net cash flow | -1 | 1,865 | -1,864 | 6 | 1 | -7 | 5 | 26 |
| Capital expenditure | -496 | — | — | — | — | — | — | — |
| Free cash flow | -127 | — | — | — | — | — | — | — |
WTRG revenue by segment
Water grew from 46% to 67% of revenue over the last two years.
| Segment | Q1 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Water | 46% | 77% | 38% | 65% | 76% | 47% | 37% | 67% | +7.6% |
| Natural Gas | 53% | 22% | 60% | 34% | 23% | 52% | 61% | 32% | -4.5% |
| Other and Eliminations | — | — | 2% | 1% | — | — | 1% | 1% | -23.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
32 filings between Jan 23, 2026 and Aug 7, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$112.9K
1 sale by 1 insider
Compensation
not trading decisions- 19
- Award — granted as compensation
- 12
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Arnold Colleen | — | $112.9K | Aug 7, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 7, 2026 | Arnold Colleen President - Aqua | Sale | 2,855 | $112.9K |
| Jun 23, 2026 | Bruner Christopher L Director | Award | 3,666 | $135.0K |
| Jun 23, 2026 | Linde Tamara Louise Director | Award | 3,666 | $135.0K |
| Jun 23, 2026 | Lewis Wilbert Bryan Director | Award | 3,666 | $135.0K |
| Jun 23, 2026 | Ciesinski David Alan Director | Award | 3,666 | $135.0K |
| Jun 23, 2026 | Hilferty Daniel J III Director | Award | 3,666 | $135.0K |
| Jun 23, 2026 | Amato Elizabeth B Director | Award | 3,666 | $135.0K |
| Feb 22, 2026 | SCHULLER DANIEL Executive Vice President | Tax withheld | 4,683 | $181.6K |
| Feb 22, 2026 | Arnold Colleen President - Aqua | Award | 2,747 | $0 |
| Feb 22, 2026 | Arnold Colleen President - Aqua | Tax withheld | 2,053 | $79.6K |
| Feb 22, 2026 | Huwar Michael President - Peoples | Award | 2,599 | $0 |
| Feb 22, 2026 | Huwar Michael President - Peoples | Tax withheld | 1,939 | $75.2K |
| Feb 22, 2026 | SCHULLER DANIEL Executive Vice President | Award | 6,682 | $0 |
| Feb 22, 2026 | Luning Christopher Paul EVP, General Counsel | Award | 4,804 | $0 |
| Feb 22, 2026 | Luning Christopher Paul EVP, General Counsel | Tax withheld | 3,382 | $131.2K |
| Feb 22, 2026 | Franklin Chris Chief Executive Officer | Award | 25,332 | $0 |
| Feb 22, 2026 | Franklin Chris Chief Executive Officer | Tax withheld | 17,964 | $696.6K |
| Feb 22, 2026 | Palmer Bradley John Chief Accounting Officer | Award | 246 | $0 |
| Feb 22, 2026 | Palmer Bradley John Chief Accounting Officer | Tax withheld | 158 | $6.1K |
| Feb 17, 2026 | Luning Christopher Paul EVP, General Counsel | Award | 4,531 | $180.0K |
| Feb 5, 2026 | Huwar Michael President - Peoples | Tax withheld | 652 | $24.6K |
| Feb 5, 2026 | Palmer Bradley John Chief Accounting Officer | Tax withheld | 89 | $3.4K |
| Feb 5, 2026 | Luning Christopher Paul EVP, General Counsel | Tax withheld | 1,112 | $41.9K |
| Feb 5, 2026 | Arnold Colleen President - Aqua | Tax withheld | 643 | $24.2K |
| Feb 5, 2026 | SCHULLER DANIEL Executive Vice President | Tax withheld | 1,624 | $61.2K |
| Feb 5, 2026 | Franklin Chris Chief Executive Officer | Tax withheld | 5,917 | $223.0K |
| Jan 23, 2026 | SCHULLER DANIEL Executive Vice President | Award | 9,183 | $0 |
| Jan 23, 2026 | Huwar Michael President | Award | 3,650 | $0 |
| Jan 23, 2026 | Arnold Colleen President | Award | 3,833 | $0 |
| Jan 23, 2026 | Palmer Bradley John Chief Accounting Officer | Award | 933 | $0 |
| Jan 23, 2026 | Luning Christopher Paul EVP, General Counsel | Award | 6,351 | $0 |
| Jan 23, 2026 | Franklin Chris Chief Executive Officer | Award | 36,788 | $0 |
| Jun 23, 2025 | Bruner Christopher L Director | Award | 3,608 | $135.0K |
| Jun 23, 2025 | Linde Tamara Louise Director | Award | 3,608 | $135.0K |
| Jun 23, 2025 | Lewis Wilbert Bryan Director | Award | 3,608 | $135.0K |
| Jun 23, 2025 | Ciesinski David Alan Director | Award | 3,608 | $135.0K |
| Jun 23, 2025 | Amato Elizabeth B Director | Award | 3,608 | $135.0K |
| Jun 23, 2025 | Hilferty Daniel J III Director | Award | 3,608 | $135.0K |
| Mar 14, 2025 | Franklin Chris Chief Executive Officer | Sale | 7,700 | $303.4K |
| Feb 18, 2025 | Huwar Michael President | Award | 2,775 | $0 |
| Feb 18, 2025 | Huwar Michael President | Tax withheld | 1,859 | $66.3K |
| Feb 18, 2025 | SCHULLER DANIEL Executive Vice President | Award | 7,969 | $0 |
| Feb 18, 2025 | SCHULLER DANIEL Executive Vice President | Tax withheld | 5,206 | $185.6K |
| Feb 18, 2025 | RUBIN ROBERT A Chief Accounting Officer | Award | 1,665 | $0 |
| Feb 18, 2025 | RUBIN ROBERT A Chief Accounting Officer | Tax withheld | 987 | $35.2K |
| Feb 18, 2025 | Luning Christopher Paul EVP, General Counsel | Award | 5,765 | $0 |
| Feb 18, 2025 | Luning Christopher Paul EVP, General Counsel | Tax withheld | 3,862 | $137.7K |
| Feb 18, 2025 | Franklin Chris Chief Executive Officer | Award | 29,539 | $0 |
| Feb 18, 2025 | Franklin Chris Chief Executive Officer | Tax withheld | 19,022 | $678.1K |
| Feb 18, 2025 | Arnold Colleen President | Award | 2,830 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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