as of 11-10-2026 3:36pm EST
Essential Utilities is a Pennsylvania-based holding company for US water, wastewater, and natural gas distribution utilities. The company's water business serves 3 million people in eight states. Its largest service territory is in Pennsylvania, primarily suburban Philadelphia. Its Peoples subsidiary serves more than 740,000 gas distribution customers in Pennsylvania and Kentucky. It completed the sale of its West Virginia gas utility and the bulk of its nonregulated assets in 2024. Essential shareholders would own a 31% stake in American Water Works if the proposed all-stock merger closes in 2027.
| Founded: | 1901 | Country: | United States |
| Employees: | 1615 | City: | BRYN MAWR |
| Market Cap: | 11.1B | IPO Year: | 1994 |
| Target Price: | $41.80 | AVG Volume (30 days): | 2.2M |
| Analyst Decision: | Hold | Number of Analysts: | 7 |
| Dividend Yield: | Dividend Payout Frequency: | quarterly | |
| EPS: | 1.53 | EPS Growth: | 1.38 |
| 52 Week Low/High: | $36.10 - $46.36 | Next Earning Date: | 11-03-2026 |
| Revenue: | $2,474,615,000 | Revenue Growth: | 18.62% |
| Revenue Growth (this year): | 3.58% | Revenue Growth (next year): | 5.45% |
| P/E Ratio: | 29.56 | Index: | N/A |
| Free Cash Flow: | 514.7M | FCF Growth: | N/A |
SEC 8-K filings with transcript text
Nov 4, 2026 · 100% conf.
1D
+0.12%
$45.18
Act: +2.04%
5D
+1.97%
$46.02
20D
+2.70%
$46.35
2 e26437_ex99-1.htm
Exhibit 99.1
Essential Utilities Reports Solid Q3 2026 Results
Progress Continues on Proposed Merger with American Water
Earnings of $0.36 per share for Q3 2026 and adjusted earnings per share of $0.38 (non-GAAP), which exclude transaction costs associated with the pending merger with American Water
·Invested $1.1 billion in infrastructure in the first nine months of the year; on track to invest $1.7 billion in 2026
.
BRYN MAWR, Pa. (November 3, 2026) – Essential Utilities Inc. (NYSE: WTRG) today reported results for the third quarter ended September 30, 2026.
Company Highlights
“Our strong performance this quarter highlights the consistent earnings growth generated by both our water and natural gas divisions,” said Essential Utilities Chairman and Chief Executive Officer Christopher Franklin. “These results demonstrate our team’s dedication to operational excellence and strategic infrastructure investment. As we work toward closing our merger with American Water in Q1 2027, we remain focused on the meaningful benefits our combined organization can bring to the communities we serve and to our shareholders.” Franklin added.
Third Quarter 2026 Operating Results
Essential reported GAAP net income of $103.8 million and earnings per share of $0.36 for the third quarter of 2026, compared to GAAP net income of $92.1 million and earnings per share of $0.33 for the same period in 2025.
The Q3 2026 non-GAAP EPS of $0.38 reflects business results without the impact of merger-related expenses incurred in the quarter.
Revenues for the quarter were $508.3 million compared to $477.0 million in the third quarter of 2025, an increase of 6.6%. Additional revenues from regulatory recoveries and purchased gas costs were the main revenue growth drivers. Operations and maintenance expenses were $152.2 million for the third quarter of 2026, compared to $153.1 million in the third quarter of 2025, a decrease of 0.6%, primarily due to insurance recoveries recognized during the current quarter, as well a decrease in bad debt expense in our regulated natural gas segment, partially offset by other expense categories. Excluding merger-related costs, O&M expenses for the quarter decreased by $5.9 million.
Essential’s regulated water segment reported revenues for the quarter of $380.6 million, an increase of 4.5% compared to $364.1 million in the third quarter of 2025. Regulatory recoveries and additional revenues associated with a larger customer base were the largest contributors to the increase in revenues for the period. Operations and maintenance expenses for Essential’s regulated water segment decreased to $104.8 million for the third quarter of 2026 compared to $105.7 million in the third quarter of 2025, due to a decrease in employee benefits primarily due to insurance recoveries recognized during the quarter, partially offset by additional operating costs associated with recently acquired water and wastewater systems.
Essential’s regulated natural gas segment reported revenues for the quarter of $122.6 million, compared to $108.5 million in the third quarter of 2025, driven primarily by higher rates and surcharges, an increase in purchased gas costs, and an increase from volumes delivered as a result of a favorable increase in customer usage during the quarter. Operations and maintenance expenses for Essential’s regulated natural gas segment decreased to $43.0 million for the third quarter of 2026 compared to $47.5 million in the third quarter of 2025 due to lower bad debt expenses and a beneficial impact from insurance recoveries.
Excluding the one-time
items and the impact of abnormal weather, operations and maintenance expenses for the full year are expected to be in line with historic norms.
For the first nine months of 2026, the Company reported revenues of $1,900.9 million, a 7.1% increase, primarily due to regulatory recoveries, increased purchased gas costs, and higher volumes in the regulated natural gas segment, compared to $1,775.5 million in the first nine months of 2025. Operations and maintenance expenses for the first nine months of 2026 totaled $481.6 million, compared to $439.4 million in 2025, including $22.5 million of merger-related expenses through 3Q 2026. Net Income for the first nine months of 2026 totaled $434.0 million, or $1.53 per share, compared to $483.7 million, or $1.73 per share for the same period of 2025.
For the first nine months of 2026, diluted non-GAAP EPS of $1.58 reflects business results without the impact of merger-related expenses.
Dividend
On October 21, 2026, Essential’s board of directors declared a quarterly dividend of $0.3606 per share of common stock. This dividend will be payable on December 1, 2026, to shareholders of record on November 10, 2026.
Essential Utilities has paid consecutive quarterly cash dividends for over 80 years and has increased the dividend 36 times in the last 35 years.
Financing
As of Septemb
Aug 5, 2026 · 100% conf.
1D
-0.56%
$39.37
Act: +0.73%
5D
-2.23%
$38.71
20D
-2.38%
$38.65
2 e26327_ex99-1.htm
Exhibit 99.1
Essential Utilities Reports Q2 2026 Results
Affirms Financial and Growth Guidance
·GAAP Earnings of $0.37 per share for Q2 2026 and adjusted earnings per share of $0.38 (non-GAAP) which exclude transaction costs associated with the pending merger with American Water
·Affirms anticipated growth in earnings per share at a compound annual growth rate of 5 to 7%
·Increased quarterly dividend 5.25%
·Invested $662.2 million in infrastructure in the first six months of the year; on track to invest $1.7 billion in 2026
·Received orders from Public Utilities Commission of Ohio and the Virginia State Corporation Commission approving merger with American Water
BRYN MAWR, Pa. (August 4, 2026) – Essential Utilities Inc. (NYSE: WTRG) today reported results for the second quarter ended June 30, 2026.
Company Highlights
“Our commitment to operational efficiency, proactive cost optimization, and value driven customer experience investments underpins our confidence in driving strong performance for 2026. While our organization transitions towards the targeted Q1 2027 merger with American Water, we remain steadfast in our commitment to driving peak operational performance,” said Essential Utilities Chairman and Chief Executive Officer Christopher Franklin. “We are confident that the combination with American Water will bring exciting new opportunities, and we believe that, together, we will deliver significant benefits to our combined customers and shareholders. Crucially, both companies share a dedicated focus on smart capital deployment targeting measurable reliability and quality service. This will allow us to uphold our strong safety and reliability metrics while continuing to deliver affordable, cost-effective utility solutions,” Franklin added.
“The regulatory approval processes for our merger with American Water continue to progress. On June 22nd, we received approval of the merger from the Virginia State Corporation Commission, and on May 14th we received approval from the Public Utilities Commission of Ohio. Previously, we received regulatory approval for the merger from the Kentucky Public Service Commission.
As a reminder, we filed in all pertinent states before the end of 2025. In February, at the special shareholder meeting to approve the merger, approximately 95% of the voted shares were cast in favor of the transaction. This overwhelming mandate supports what we have believed from the start: that this combination creates a premier, multi-state utility with a high growth profile,” Franklin added.
Second Quarter 2026 Operating Results
Essential reported GAAP net income of $105.7 million and earnings per share of $0.37 for the second quarter of 2026, compared to GAAP net income of $107.8 million and earnings per share of $0.38 for the same period in 2025.
The second quarter Q2 2026 non-GAAP EPS of $0.38, reflects business results without the impact of merger-related expenses incurred in the quarter.
Revenues for the quarter were $530.9 million compared to $514.9 million in the second quarter of 2025, an increase of 3%. Additional revenues from regulatory recoveries and purchased gas costs were the main revenue drivers. Operations and maintenance expenses were $153.6 million for the second quarter of 2026, compared to $148.5 million in the second quarter of 2025, an increase of 3.5%, primarily due to increases in employee-related costs of $5.9 million, including annual merit increases and higher medical claims, and an increase in production costs for water and wastewater operations of $2.3 million, offset by a decrease in insurance expenses of $4.9 million primarily due to insurance recoveries, a decrease in bad debt expense of $2.9 million, a decrease in customer assistance surcharge costs of $1.5 million, which generally has an offsetting amount in revenues, and merger-related expenses of $1.2 million. Excluding merger related costs, O&M expenses increased by 2.6%.
Essential’s regulated water segment reported revenues for the quarter of $357.5 million, an increase of 7.6% compared to $332.3 million in the second quarter of 2026. Regulatory recoveries and increased volume were the largest contributors to the increase in revenues for the period. Operations and maintenance expenses for Essential’s regulated water segment increased to $109.4 million for the second quarter of 2026 compared to $100.1 million in the second quarter of 2025, driven by increased employee-related costs, increases in production costs for water and wastewater operations particularly purchased water and chemical costs, and additional operating costs associated with acquisitions of water and wastewater systems. Excluding the one-time items and the impact of abnormal weather, operations and maintenance expenses for the full year are expected to be in line with historic norms.
Essential’s regulated natural gas segment reported revenues for the quarter of $169.3 million, compared
May 7, 2026 · 100% conf.
1D
-0.59%
$37.48
Act: -0.29%
5D
-2.44%
$36.78
Act: -0.50%
20D
-2.57%
$36.73
Act: -0.90%
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