Quarterly ResultApr 29, 2026, 04:55 PM
HTO Q1 Revenue +9.4% to $183.3M; Net Income +14.9% to $19M; Equity Offering
AI Summary
H2O America reported a strong first quarter for 2026, with operating revenue increasing by 9.4% to $183.3 million and net income rising by 14.9% to $19.0 million. Basic earnings per share grew to $0.50. The company also completed an underwritten common stock offering in March 2026, generating $290.2 million in net proceeds, and received $25.1 million from PFAS legal settlements.
Key Highlights
- Q1 2026 operating revenue increased 9.4% to $183.3 million from $167.6 million in Q1 2025.
- Q1 2026 net income rose 14.9% to $19.0 million from $16.6 million in Q1 2025.
- Basic EPS for Q1 2026 was $0.50, up from $0.49 in Q1 2025.
- Issued 3.94 million common shares in March 2026, raising $290.2 million net proceeds.
- Entered forward purchase agreements for 7.55 million additional shares.
- Cash and cash equivalents increased to $153.0 million from $20.7 million at December 31, 2025.
- Received $25.1 million from PFAS legal settlements as of March 31, 2026.
- Dividends per share increased to $0.44 in Q1 2026 from $0.42 in Q1 2025.