Filing Flows › H2O America (HTO) › Q2 2025
H2O America (HTO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
H2O America (HTO) reported revenue of $198M for the second quarter 2025 (Q2 2025), +13% from a year earlier and +18% from the quarter before. Operating margin was 22.1%, net earnings $24.7M (12.4% of revenue).
H2O America, Q2 2025: revenue $198M (+12% year over year), operating margin 22.1%, net earnings $24.7M, operating cash flow $60.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $198M | +18% | +13% |
| Operating profit | $43.9M | +22% | +8% |
| Net earnings | $24.7M | +49% | +19% |
| Operating cash flow | $60.8M | +41% | +23% |
What changed
Revenue was $198.3M in Q2 2025, up 13% year over year and up 18% from the previous quarter.
Operating profit was $43.9M, a 22.1% margin (down 0.9 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, below the 23% margin then. Total costs grew 14% against revenue growth of 13%. The fastest-growing cost line was General & admin (+41%). Net earnings were $24.7M, up 19% year over year. The effective tax rate was 15.9%.
Operating cash flow was $60.8M (up 23% year over year), 247% of net earnings. Non-cash charges added back $30.0M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $4.7M.
Questions
What was H2O America's revenue in the second quarter 2025?
H2O America (HTO) reported revenue of $198M for the second quarter 2025 (Q2 2025), +13% from a year earlier and +18% from the quarter before.
Was H2O America profitable in the second quarter 2025?
Operating profit was $43.9M (22.1% of revenue) and net earnings $24.7M.
Source: H2O America 10-Q on SEC EDGAR.