Filing Flows › H2O America (HTO) › Q3 2025
H2O America (HTO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
H2O America (HTO) reported revenue of $241M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +21% from the quarter before. Operating margin was 26.9%, net earnings $45.1M (18.8% of revenue).
H2O America, Q3 2025: revenue $241M (+7% year over year), operating margin 26.9%, net earnings $45.1M, operating cash flow $77.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $241M | +21% | +7% |
| Operating profit | $64.6M | +47% | +11% |
| Net earnings | $45.1M | +83% | +17% |
| Operating cash flow | $77.3M | +27% | +44% |
What changed
Revenue was $240.6M in Q3 2025, up 7% year over year and up 21% from the previous quarter.
Operating profit was $64.6M, a 26.9% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 26% margin then. Total costs grew 6% against revenue growth of 7%. The fastest-growing cost line was General & admin (+22%). Net earnings were $45.1M, up 17% year over year. The effective tax rate was 11.4%.
Operating cash flow was $77.3M (up 44% year over year), 171% of net earnings. Non-cash charges added back $30.0M of depreciation and amortization and $2.0M of share-based compensation.
Questions
What was H2O America's revenue in the third quarter 2025?
H2O America (HTO) reported revenue of $241M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +21% from the quarter before.
Was H2O America profitable in the third quarter 2025?
Operating profit was $64.6M (26.9% of revenue) and net earnings $45.1M.
Source: H2O America 10-Q on SEC EDGAR.