Essential Utilities, Inc. (WTRG) Income Statement
WTRG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWTRG revenue and net income
Where WTRG's revenue goes
2025Each bar shows an amount and its share of revenue. WTRG kept 24.9% of revenue as net income.
WTRG profit margins
WTRG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +18.6% | +2.6% | +11.1% | +11.8% |
| Gross profit | −17.0% | −1.9% | +5.7% | +7.2% |
| Operating income | +21.6% | +11.7% | +16.2% | +11.1% |
| Net income | +3.5% | +9.8% | +16.7% | +11.8% |
| EPS (diluted) | +12.2% | +7.7% | +6.9% | +5.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WTRG quarterly EPS vs estimates
Essential Utilities beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.34).
WTRG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.47B | $2.09B | $2.05B | $2.29B | $1.88B | $1.46B | $889.7M | $838.1M | $809.5M | $819.9M |
| Cost of revenue | $1.46B | $864.3M | $927.8M | $1.22B | $890.8M | $694.4M | $333.1M | $308.5M | $282.3M | $297.2M |
| Gross profit | $1.01B | $1.22B | $1.13B | $1.07B | $987.3M | $768.3M | $556.6M | $529.6M | $527.3M | $522.7M |
| Sales, general & admin | — | — | — | $90.0M | $86.6M | $76.6M | $2.7M | $4.8M | $4.4M | $3.8M |
| Total operating expenses | $92.8M | $464.2M | $433.9M | $411.2M | $384.6M | $333.7M | $216.4M | $206.4M | $193.4M | $189.4M |
| Operating income | $921.0M | $757.7M | $692.1M | $661.2M | $602.7M | $434.7M | $340.2M | $323.2M | $333.9M | $333.3M |
| Interest income | $1.7M | $3.3M | $3.5M | $3.7M | $2.4M | $5.4M | $25.4M | $143.6M | $72.8M | $70.8M |
| Interest expense | $329.1M | $302.5M | $283.4M | $238.1M | $207.7M | $188.4M | $125.4M | $98.9M | $88.3M | $80.6M |
| Income before taxes | $619.8M | $573.5M | $431.8M | $450.9M | $422.0M | $265.0M | $211.5M | $178.3M | $256.7M | $255.2M |
| Income taxes | $3.4M | −$21.8M | −$66.4M | −$14.3M | −$9.6M | −$19.9M | −$13.0M | −$13.7M | $16.9M | $21.0M |
| Net income | $616.4M | $595.3M | $498.2M | $465.2M | $431.6M | $284.8M | $224.5M | $192.0M | $239.7M | $234.2M |
| EBITDA | $1.37B | $1.25B | $1.06B | $1.01B | $927.7M | $710.5M | $493.4M | $424.0M | $481.9M | $468.8M |
| EPS (diluted) | $2.21 | $1.97 | $1.86 | $1.77 | $1.67 | $1.58 | $1.47 | $1.41 | $1.37 | $1.31 |
| Gross margin | 41.0% | 58.6% | 54.8% | 46.9% | 52.6% | 52.5% | 62.6% | 63.2% | 65.1% | 63.8% |
| Operating margin | 37.2% | 36.3% | 33.7% | 28.9% | 32.1% | 29.7% | 38.2% | 38.6% | 41.2% | 40.7% |
| Net margin | 24.9% | 28.5% | 24.3% | 20.3% | 23.0% | 19.5% | 25.2% | 22.9% | 29.6% | 28.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $530.9M | $861.8M | $699.1M | $477.0M | $514.9M | $783.6M | $604.4M | $435.3M | $434.4M | $612.1M | $479.4M | $411.3M |
| Cost of revenue | $46.2M | $525.1M | $447.6M | $175.9M | $205.2M | $322.5M | $258.0M | $163.5M | $176.2M | $266.6M | $194.5M | $163.6M |
| Gross profit | $484.7M | $336.6M | $251.5M | $301.0M | $309.7M | $461.2M | $346.4M | $271.8M | $258.2M | $345.5M | $285.0M | $247.6M |
| Sales, general & admin | $153.6M | — | — | — | — | — | — | — | — | — | — | — |
| Total operating expenses | $291.4M | $26.0M | $24.5M | $131.6M | $124.4M | $122.3M | $119.8M | $116.7M | $112.9M | $114.8M | $111.0M | $110.2M |
| Operating income | $193.3M | $310.6M | $227.0M | $169.8M | $185.3M | $338.9M | $226.6M | $155.1M | $145.3M | $230.7M | $174.0M | $137.4M |
| Interest income | $510,000 | $1.6M | $94,000 | $1.1M | $301,000 | $229,000 | $659,000 | $1.4M | $276,000 | $989,000 | $670,000 | $942,000 |
| Interest expense | $89.1M | $87.3M | $84.9M | $82.3M | $79.8M | $82.1M | $79.3M | $76.8M | $73.0M | $73.3M | $72.9M | $68.6M |
| Income before taxes | $109.1M | $230.8M | $147.8M | $96.4M | $112.4M | $263.2M | $155.9M | $85.2M | $77.2M | $255.1M | $104.6M | $76.4M |
| Income taxes | $3.4M | $6.4M | $15.2M | $4.3M | $4.6M | −$20.6M | −$28.9M | $15.8M | $1.9M | −$10.6M | −$30.8M | −$3.7M |
| Net income | $105.7M | $224.4M | $132.7M | $92.1M | $107.8M | $283.8M | $184.8M | $69.4M | $75.4M | $265.8M | $135.4M | $80.1M |
| EBITDA | $302.1M | $428.8M | $340.3M | $285.7M | $295.7M | $444.6M | $331.7M | $254.7M | $240.9M | $418.2M | $265.7M | $231.0M |
| EPS (diluted) | $0.38 | $0.83 | $0.47 | $0.33 | $0.38 | $1.03 | $0.47 | $0.25 | $0.28 | $0.97 | $0.50 | $0.30 |
| Gross margin | 91.3% | 39.1% | 36.0% | 63.1% | 60.1% | 58.8% | 57.3% | 62.4% | 59.4% | 56.4% | 59.4% | 60.2% |
| Operating margin | 36.4% | 36.0% | 32.5% | 35.6% | 36.0% | 43.2% | 37.5% | 35.6% | 33.4% | 37.7% | 36.3% | 33.4% |
| Net margin | 19.9% | 26.0% | 19.0% | 19.3% | 20.9% | 36.2% | 30.6% | 15.9% | 17.4% | 43.4% | 28.3% | 19.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WTRG's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WTRG financial results
In fiscal year 2025 (ended December 31, 2025), Essential Utilities reported revenue of $2.5 billion, up 18.6% from the year before. It had net income of $616.4 million (up 3.5%), a net profit margin of 24.9%. Diluted earnings per share came to $2.21. Over five years revenue grew at an average rate of 11.1% a year.
See the WTRG stock overview for the latest quote and news, or the WTRG chart for price history and technical indicators.
WTRG income statement FAQ
What is Essential Utilities's annual revenue?
Essential Utilities reported total revenue of $2.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 18.6% from $2.1 billion the previous year.
Is Essential Utilities profitable?
Yes. Essential Utilities reported net income of $616.4 million in fiscal 2025, a net profit margin of 24.9%; its operating margin was 37.2%.
What is Essential Utilities's gross margin?
Essential Utilities's gross margin was 41.0% in fiscal 2025: for every $100 of revenue, Essential Utilities kept $41 after the direct cost of its products and services.
How fast is Essential Utilities growing?
Revenue grew 11.1% a year on average over the last five fiscal years, from $1.5 billion to $2.5 billion.
What are Essential Utilities's earnings per share?
Essential Utilities earned $2.21 per diluted share in fiscal 2025, compared with $1.97 a year earlier.
When will Essential Utilities report its next earnings?
Essential Utilities is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Essential Utilities's fiscal year end?
Essential Utilities's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.