In the second quarter of 2025, H2O America reported diluted EPS of $0.71, an 11% increase over the prior year. Adjusted diluted EPS was $0.75, a 14% increase. Year-to-date, diluted EPS was $1.20, a 20% increase, with adjusted diluted EPS at $1.25, a 23% increase. Infrastructure investment for 2025 was $207.2 million, on track for full-year expenditures of $473.0 million.

H2O America entered into an agreement to acquire Quadvest’s assets in Houston, a high-growth region. Quadvest saw a 4% increase in connections, totaling 5,400, between December 2024 and June 2025. The company also declared a $0.42 cash dividend per share of common stock.

Net income for the second quarter of 2025 was $24.7 million, a 19% increase over the prior year. Operating revenue for the quarter was $198.3 million, a 13% increase. Operating expenses rose to $154.4 million, primarily due to increased water production and administrative costs.

For the first six months of 2025, net income was $41.2 million, a 27% increase. Operating revenue year-to-date was $365.9 million, a 12% increase. Operating expenses for the period were $286.1 million, reflecting increased water production and administrative costs.

H2O America reaffirmed its 2025 adjusted diluted EPS guidance of $2.90 to $3.00. The company is on track to meet its full-year capital expenditure target. The acquisition of Quadvest’s assets in Texas is expected to drive significant customer growth and be accretive in 2028.

California and Connecticut approved rate increases to offset rising costs. In Texas, the PUCT approved a System Improvement Charge. H2O America’s long-term diluted EPS growth target is 5% to 7% through 2029, anchored off of 2022’s diluted EPS of $2.43.

Read more at GlobeNewswire: H2O America Announces Second Quarter 2025 Financial