Angie Storozynski

Jonathan Reeder

- H2O America reported **adjusted diluted EPS of $1.27** for Q3 2025 and **$2.53** year-to-date, representing a **14% increase** over the nine months ended September 2024.  **[0000766829_2208838_2]** 
- The company narrowed its 2025 adjusted diluted EPS guidance range to **$2.95 to $3.00**, which is the upper half of its original range, and reaffirmed a **5% to 7% EPS CAGR through 2029**.  **[0000766829_2208838_2]** 
- H2O America invested **$358 million** in utility infrastructure through September 30, 2025, which is **74%** of its upwardly revised **$486 million** capital expenditure budget for 2025.  **[0000766829_2208838_1]** **[0000766829_2208838_4]** 
- Progress is being made on two Texas acquisitions, **QuadBest** and **Cibolo Valley**, with the QuadBest fair market valuation expected in December 2025 and both deals anticipated to close in 2026.  **[0000766829_2208838_1]** **[0000766829_2208838_4]**  The company also raised approximately **$108 million** in equity year-to-date and issued **$100 million** in long-term debt.  **[0000766829_2208838_3]**

H2O America Reports Strong Q3 2025 Results, Narrows EPS Guidance, and Updates on Acquisitions

- H2O America reported **Q3 2025 adjusted diluted EPS of $1.27**, an **8% increase** over the prior year, with **year-to-date adjusted diluted EPS** reaching **$2.53**, up **14%**.  **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:0]** 
- **Operating revenue** for Q3 2025 grew **7%** to **$240.6 million**, and **year-to-date operating revenue** increased **10%** to **$606.4 million**.  **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:1]** **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:2]** 
- The company narrowed its **2025 adjusted diluted EPS guidance** to **$2.95 to $3.00** and reaffirmed its long-term diluted EPS growth target of **5% to 7%** through 2029.  **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:0]** **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:3]** 
- H2O America declared a quarterly cash dividend of **$0.42 per share** and reported an **11.5% increase** in active connections year-to-date, driven by acquisition progress.  **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:0]** **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:3]** **[766829_0001628280-25-046536_exhibit991-3qtr2025.htm:2]**

H2O America Reports Strong Q3 2025 Financial Results and Narrows EPS Guidance

- On **September 12, 2025**, H2O America and its subsidiaries, including San Jose Water Company, SJWTX, Inc., The Connecticut Water Company, and The Maine Water Company, entered into an **Amended and Restated Credit Agreement** with JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association.  **[766829_0000766829-25-000092_sjw-20250916.htm:1]** **[766829_0000766829-25-000092_h2o-amendedandrestatedcred.htm:2]** 
- The **Commitment** under the new Credit Agreement is **increased from $300 million to $350 million**.  **[766829_0000766829-25-000092_sjw-20250916.htm:1]** 
- The **Maturity Date** for the Credit Agreement is **extended from August 2, 2029, to September 12, 2030**.  **[766829_0000766829-25-000092_sjw-20250916.htm:1]** 
- The revised borrower sublimits are: H2O America at **$50,000,000**, San Jose Water Company at **$165,000,000**, SJWTX, Inc. at **$30,000,000**, The Connecticut Water Company at **$80,000,000**, and The Maine Water Company at **$25,000,000**.  **[766829_0000766829-25-000092_sjw-20250916.htm:1]**

H2O AMERICA (HTO)