Essential Utilities (NYSE:WTRG) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsBrian Dingerdissen - VP of Financial Planning and Analysis, Treasury, and Investor RelationsChristopher Franklin - Chairman and CEODaniel Schuller - EVP and CFOConference Call ParticipantsPaul Zimbardo - Managing Director and Research AnalystTravis Miller - Senior Equity AnalystOperatorStanding by. My name is Jericho, and I'll be your conference operator today. At this time, I would like to welcome everyo ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $2.20 for 2025, exceeding the guidance range of $2.07-$2.11, marking a significant increase from the previous year's non-GAAP EPS of $1.97 [7][12][18] - Revenues increased by 18.6%, rising from approximately $2.1 billion to nearly $2.5 billion, with regulatory recoveries contributing $177.6 million to this growth [12][13] - Operating and maintenance (O&M) expenses rose by 8.9% year-over-year, totaling an increase of $52.3 million [15] Business Line Data and Key Metrics Changes - The water business executed a $450 million PFAS capital plan, deploying over 50 advanced treatment systems [9] - The natural gas segment achieved the installation of its 100,000th Intelis meter in 2025 [9] - The company completed three municipal acquisitions in 2025, adding over 12,700 new customers [21] Market Data and Key Metrics Changes - Customer growth contributed $5.6 million to revenue, while lower water volumes due to wetter weather offset revenue growth by $8.6 million [13] - The company reported a favorable regulatory recovery totaling $101.5 million in incremental annualized revenue, with $92.6 million related to water and wastewater business [20] Company Strategy and Development Direction - The company aims to maintain a long-term goal of delivering 5%-7% EPS growth from 2024 through 2027, excluding non-recurring items [19][24] - The merger with American Water is expected to create a premier multi-state utility with low risk and first quartile growth, with regulatory approvals anticipated to close in the first quarter of 2027 [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory relationships built over the years, which are expected to facilitate a constructive outcome for the merger [5] - The company remains committed to balancing responsible investments in infrastructure with customer affordability amid ongoing discussions about utility costs [11] Other Important Information - The company was recognized as one of Newsweek's America's Most Responsible Companies for the fifth consecutive year and named to USA Today's America's Climate Leaders for the third consecutive year [10] - The company plans to invest $1.7 billion in regulated infrastructure in 2026 [25] Q&A Session Summary Question: What would the non-GAAP 2025 be with adjustments? - Management did not specify the number but indicated that favorable non-recurring items would still place results above the guidance range [30][31] Question: Timing for the next round of Pennsylvania rate cases? - Management indicated that filings would follow a historical two-year cadence, suggesting a relatively quick timeline [32] Question: Could regulatory activity be combined with the merger sign-off? - Management clarified that these would be considered separate dockets and adjudicated separately [41][42]

California Water Service Group (NYSE:CWT) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsGreg Milleman - VP of Rates and Regulatory Affairs OfficerJames Lynch - SVP, CFO and TreasurerMarty Kropelnicki - Chairman, President and CEOShilen Patel - Chief Business Development Officer and VPConference Call ParticipantsDavis Sunderland - Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this ...

California Water Service Group (NYSE:CWT) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsGreg Milleman - VP of Rates and Regulatory Affairs OfficerJames Lynch - SVP, CFO and TreasurerMarty Kropelnicki - Chairman, President and CEOShilen Patel - Chief Business Development Officer and VPConference Call ParticipantsDavis Sunderland - Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $2.20 for 2025, exceeding the guidance range of $2.07-$2.11, and representing significant growth from the previous year's non-GAAP EPS of $1.97 [6][12][18] - Revenues increased by 18.6%, rising from approximately $2.1 billion in 2024 to nearly $2.5 billion in 2025, with regulatory recoveries contributing $177.6 million to this increase [12][13] - Operating and maintenance (O&M) expenses rose by 8.9% year-over-year, totaling an increase of $52.3 million, driven by higher employee-related costs and increased production costs [14] Business Line Data and Key Metrics Changes - The water business executed a $450 million PFAS capital plan, deploying over 50 advanced treatment systems across Pennsylvania and North Carolina [9] - The natural gas segment achieved the installation of its 100,000th Intelis meter in 2025, contributing to operational efficiency [9] - The company completed three municipal acquisitions in 2025, adding over 12,700 new customers and showcasing its growth strategy [21] Market Data and Key Metrics Changes - The company experienced customer growth that added $5.6 million in revenue, although lower water volumes due to wetter weather offset this growth by $8.6 million [13] - Regulatory recoveries totaled $101.5 million in 2025, with $92.6 million related to the water and wastewater business [20] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet, improving cash flow, and delivering consistent dividend growth while keeping the payout ratio between 60% and 65% [24] - The merger with American Water is expected to close in the first quarter of 2027, with the company optimistic about leveraging combined resources for business development [5][21] - The company reaffirmed its long-term goal of delivering 5%-7% EPS growth from 2024 through 2027, excluding non-recurring items [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory relationships built over the years, which are expected to facilitate a constructive outcome for the merger [5] - The company emphasized its commitment to sustainability and affordability, balancing investments in infrastructure with customer bill impacts [11][25] - Management highlighted the importance of maintaining high-quality service while managing operating costs amid national discussions on affordability [11] Other Important Information - The company was recognized as one of Newsweek's America's Most Responsible Companies for the fifth consecutive year and named to USA Today's America's Climate Leaders for the third consecutive year [10] - The company plans to invest $1.7 billion in regulated infrastructure in 2026, reflecting its commitment to enhancing service reliability [25] Q&A Session Summary Question: What would the non-GAAP 2025 be with adjustments? - Management did not specify the exact number but indicated that the results remained favorable to the guidance range [30][31] Question: Timing for the next round of Pennsylvania rate cases? - Management suggested that filings would occur relatively quickly, following a historical two-year cadence [32] Question: Could regulatory activity be combined with merger sign-off? - Management clarified that rate cases and regulatory activities are considered separate dockets and will be adjudicated separately [40][41] Question: Options for the bankruptcy exit for Chester? - Management discussed the implications of the Supreme Court ruling and potential negotiations regarding assets related to the Chester Water Authority [44][46]

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $220 million, a slight decrease from $222 million in Q4 2024. Net income for the quarter was $11.5 million, or $0.19 per diluted share, compared to $19.7 million, or $0.33 per diluted share in the prior year [11][12] - For the full year 2025, operating revenue was $1 billion, compared to $1.37 billion in 2024. When compared to non-GAAP 2024 revenue of $949.3 million, revenue increased by $50.8 million, or approximately 5.4%. Net income attributed to the group was $128.2 million, compared to $190.8 million in 2024, reflecting a 1% increase when compared to non-GAAP 2024 income [13][14] Business Line Data and Key Metrics Changes - The company invested a record $517 million into infrastructure systems in 2025, including $52.3 million in Q4 alone, representing a 19.8% increase over construction levels in 2024 [9][15] - The company maintained an A+ stable credit rating from S&P, one of the highest-rated credit utilities in North America [10] Market Data and Key Metrics Changes - The company experienced a significant weather impact in December 2025, which negatively affected financial results, particularly in California due to exceptionally wet and cold weather [8][11] - The company received approval for a 3% interim rate increase in California, implemented in January 2026, following a delay in the rate case decision [10][12] Company Strategy and Development Direction - The company announced the acquisition of Nevada and Oregon operations from Nexus Water, which will expand its geographical footprint and solidify its position in the Western U.S. water industry [4][22] - The company plans to continue pursuing growth opportunities in high-growth areas and strategic acquisitions that align with its capital investment strategy [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the timely completion of the 2024 California General Rate Case, highlighting proactive engagement with regulators and a focus on affordability for customers [35][56] - The company is committed to addressing PFAS regulations and has allocated significant capital for related projects, with plans to spend between $50 million and $70 million in 2026 [66][68] Other Important Information - The company declared its 324th consecutive quarterly dividend of $0.33 per share and announced an intended annual dividend of $1.34 per share for 2026, representing an 8.1% increase over 2025 [19][20] - The company maintains a strong liquidity profile with $51.8 million in unrestricted cash and $45.6 million in restricted cash, along with approximately $470 million available on bank lines of credit [18] Q&A Session Summary Question: Is the delay of cases something that should be expected as a new norm? - Management indicated that recent efforts by the California Water Association have focused on educating commissioners about the impacts of delays, leading to a more timely process for future cases [51][56] Question: What are the regulatory mechanisms in Oregon or Nevada? - Management highlighted that Nevada has a reasonable commission allowing phased-in statewide rates and a hybrid rate environment, while Oregon has mechanisms for interim rates and construction work in progress [59][60] Question: Update on PFAS funding and plans? - Management confirmed ongoing plans to address PFAS regulations, with significant spending allocated for treatment and infrastructure improvements, emphasizing the importance of water quality [66][68]

LEXINGTON, Ky., Feb. 26, 2026 /PRNewswire/ -- Kentucky American Water is investing approximately $630,000 to upgrade critical water infrastructure on Leawood Dr. in Lexington, replacing approximately a half mile of aging water main to help ensure continued reliability, water quality and fire protection for customers. ...

Q4 and YE 2025 Earnings & Strong Start to 2026 February 26, 2026 Today's Speakers Marty Kropelnicki Chairman & CEO James Lynch Sr. Vice President, CFO & Treasurer Greg Milleman VP, Rates & Regulatory Affairs Shilen Patel Chief Business Development Officer & VP TWSC, Inc. 2 Forward-Looking Statements and Other Important Information This presentation contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The forward-looking stateme ...

New Jersey American Water Invests Over $781 Million in 2025 Statewide Infrastructure Upgrades [Accessibility Statement] Skip NavigationStrengthening System Reliability and Water Quality for CustomersCAMDEN, N.J., Feb. 25, 2026 /PRNewswire/ -- New Jersey American Water today announced that it invested more than $781 million in [water and wastewater system improvements] across the Garden State in 2025 - a significant increase from the approximately $520 million invested in 2024. This year-over-year growth ref ...

2025 reported diluted EPS were $2.92 versus $2.87 in 2024. On an adjusted (non-GAAP) basis, 2025 diluted EPS of $2.99 came in near the top of our upwardly narrowed $2.95 to $3.001 guidance range, compared to $2.95 in 2024Establish a 2026-30 capital expenditures budget of $2.7 billion, a 31% increase over the prior five-year plan, to fund needed infrastructure replacement, PFAS remediation, additional water supplies, and investments in the Quadvest, L.P. system following the anticipated mid-2026 closeInitiat ...