Essential Utilities reported second-quarter 2026 GAAP earnings of $0.37 per share, down from $0.38 a year earlier, while adjusted non-GAAP earnings were $0.38 per share excluding merger-related costs. Chairman and CEO Chris Franklin said the company remains confident in achieving 5% to 7% annual earnings-per-share growth from a 2024 adjusted baseline of $1.97. CFO Dan Schuller detailed that earnings benefited from a $0.06-per-share increase in regulatory recoveries and surcharges, a $0.02 gain from higher water volumes, and a $0.01 boost from water customer growth, partly offset by $0.02 in higher operating expenses, a $0.02 impact from lower gas volumes, and $0.06 of other costs including increased depreciation and interest. The company has received regulatory approvals for its planned merger with American Water in Kentucky, Ohio and Virginia and continues to expect a first-quarter 2027 close, with proceedings ongoing in other states. Essential invested $662 million in regulated infrastructure in the first half and remains on track for a record $1.7 billion in full-year spending, while its board approved a 5.25% dividend increase payable September 1, 2026.
Essential Utilities IncReports Q2 earnings, reaffirms growth target, and raises dividend.
American Water WorksMerger with Essential Utilities receives regulatory approvals in some states, but deal not closed.
