H2O America Q2 GAAP EPS $0.62 vs $0.71 YoY; reaffirms FY guidance; Quadvest closing expected Q3/Q4 2026

H2O AMERICA

Q2 GAAP diluted EPS $0.62 (down from $0.71); adjusted diluted EPS $0.72 (down from $0.75); net income $26.6M (+8% YoY).
Revenue $210.5M (+6% YoY); operating expenses $167.7M (+9% YoY); effective tax rate 13% vs 16%.
Reaffirms FY 2026 standalone adjusted diluted EPS guidance $3.08-$3.18; long-term CAGR target 6-8% anchored off 2025 adjusted EPS $2.99.
Quadvest acquisition ($540M) PUCT staff recommended approval; closing expected end of Q3/early Q4 2026; active connections up 10% to 59,800.
Declared $0.44 cash dividend per share; H1 2026 capex $206.9M; filed rate cases in CT and ME seeking >$180M recovery.

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