H2O AMERICA (HTO) Company Report

H2O America's regulated Texas water and wastewater utility, The Texas Water Company (TWC), has received the appraised fair market values for the assets of Quadvest LP.
The determined purchase price for Quadvest LP is $483.6 million, which will serve as the ratemaking rate base.
TWC plans to file the Sale-Transfer-Merger application with the Public Utility Commission of Texas by mid-January to request approval for the acquisition.
The Quadvest acquisition is anticipated to close by mid-2026.

Dec 29, 2025, 9:11 PM

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

HTO

Earnings

Guidance Update

M&A

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.
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.
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.
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. The company also raised approximately $108 million in equity year-to-date and issued $100 million in long-term debt.

Oct 28, 2025, 6:00 PM

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

HTO

Earnings

Guidance Update

Dividends

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%.
Operating revenue for Q3 2025 grew 7% to $240.6 million, and year-to-date operating revenue increased 10% to $606.4 million.
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.
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.

Oct 27, 2025, 11:52 PM

H2O America Amends and Restates Credit Agreement

HTO

Debt Issuance

New Projects/Investments

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.
The Commitment under the new Credit Agreement is increased from $300 million to $350 million.
The Maturity Date for the Credit Agreement is extended from August 2, 2029, to September 12, 2030.
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.