Essential Utilities reported second-quarter results showing revenue growth and a dividend increase, but earnings per share dipped from a year earlier. The regulated water segment posted revenue of $357.5 million, up 7.6% from $332.3 million, while first-half revenue climbed 7.2% to nearly $1.4 billion. However, net income fell to $105.7 million from $107.8 million, pulling GAAP EPS down to $0.37 from $0.38. The company raised its dividend 5.25% to $0.3606 per share, marking the 36th increase in 35 years. Essential also progressed on its merger with American Water, which cleared Virginia and Ohio regulators, and continues to expand through acquisitions, including a $276.5 million purchase of DELCORA. Despite rising costs and a shrinking gas segment, guidance calls for 5% to 7% annual earnings growth through 2027.
Essential Utilities IncQ2 revenue grew 7.6% in water segment and dividend raised 5.25%, though EPS dipped to $0.37 from $0.38.
American Water WorksMerger with Essential Utilities cleared Virginia and Ohio regulators, a regulatory milestone but not a standalone driver for American Water.
