Essential Utilities, Inc. reported the first quarter ended March 31, 2026 results: revenue $861.8 million, net income $224.4 million, EPS $0.79 per share. Guidance reaffirmed.
“Q1 2026 non-GAAP EPS of $0.83, which reflects business results without the impact of merger-related expenses incurred in the quarter. Revenues for the quarter were $861.8 million compared to $783.6 million in the first quarter of 2025, an increase of 10%. Additional revenues from regulatory recoveries and purchased gas costs were the main revenue drivers.”
Material Agreements
Essential Utilities, Inc. entered into Tenth Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $500,000,000 principal amount (effective 2026-03-09).
“On March 9, 2026, Essential Utilities, Inc. (the “Company”) issued $500,000,000 principal amount of its 5.125% Senior Notes due 2036 (the “Notes”).”
Roderick K. West resigned as Director at Essential Utilities, Inc..
“On February 15, 2025, Roderick K. West, a member of the Board of Directors (the “Board”) of Essential Utilities, Inc. (the “Company”) since 2023, informed the Company of his resignation as a director and as a member on all Board committees on which he served, effective immediately.”
Edwina Kelly resigned as member of the Board of Directors at Essential Utilities, Inc..
“Edwina Kelly, notified the Chairman and Chief Executive Officer of Essential Utilities, Inc. (the “Company”) of her resignation, effective as of the date thereof, from her position as a member of the Board of Directors of the Company”
Matthew R. Rhodes resigned as Executive Vice President, Strategy and Corporate Development at Essential Utilities, Inc..
“On September 6, 2024, Matthew R. Rhodes, notified the Chairman and Chief Executive Officer of Essential Utilities, Inc. (the “ Company ”) of his resignation from his position as Executive Vice President, Strategy and Corporate Development, including any and all roles he plays in the parent company and any of its subsidiaries, to accept a position as the chief financial officer of Pattern Energy Group L.P.”
Earnings Releases
Essential Utilities, Inc. reported first quarter ended March 31, 2024 results: revenue $612.1 million, net income $265.8 million, EPS $0.97 per share.
“gas segment and water segment volumes, and other items, which includes the gain on sale, were offset by a slight increase in expenses. Revenues for the quarter were $612.1 million compared to $726.5 million in the first quarter of 2023, a decrease of 15.7%. Lower purchased gas costs and other items were the primary contributors to the decrease in revenues”
Shareholder Votes
Essential Utilities, Inc. shareholders approved Ratification of an amendment to the Company’s Bylaws to implement universal proxy rules at the 2024-05-01 meeting.
“4. The ratification of an Amendment to the Company’s Bylaws to implement universal proxy rules governing contested elections of directors: For Against Abstain 206,649,736 1,584,454 967,017 There were 30,422,691 broker non-votes for this proposal.”
Shareholder Votes
Essential Utilities, Inc. shareholders approved Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2024 at the 2024-05-01 meeting.
“3. The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Company for the 2024 fiscal year was ratified by the following vote of shareholders: For Against Abstain 227,635,364 11,112,905 875,629 There were no broker non-votes for the ratification of the independent registered public accounting firm.”
Shareholder Votes
Essential Utilities, Inc. shareholders approved Advisory vote to approve the compensation paid to the Company’s named executive officers for 2023 at the 2024-05-01 meeting.
“2. The advisory vote to approve the compensation paid to the Company’s named executive officers for 2023 as disclosed in the Company’s Proxy Statement for the Annual Meeting was approved by the following vote of shareholders: For Against Abstain 194,712,551 13,046,186 1,442,470 There were 30,422,691 broker non-votes for this proposal.”
Shareholder Votes
Essential Utilities, Inc. shareholders approved Election of directors at the 2024-05-01 meeting.
“1. The following nominees were elected as directors of the Company to serve for one-year terms and until their successors are elected and qualified. The votes received are set forth adjacent to the names below: Name of Nominee For Withheld Elizabeth B. Amato 201,170,659 8,030,548 Christopher L. Bruner 194,836,513 14,364,694 David A. Ciesinski 204,999,829 4,201,378 Christopher H. Franklin 198,017,989 11,183,218 Daniel J. Hilferty 202,888,796 6,312,411 Edwina Kelly 207,397,198 1,804,009 W. Bryan Lewis 207,525,561 1,675,646 Tamara L. Linde 207,705,590 1,495,617 Roderick K West 206,461,226 2,739,981 There were 30,422,961 broker non-votes recorded for each nominee.”
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