Filing Flows › Essential Utilities (WTRG) › Q4 2025
Essential Utilities (WTRG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Essential Utilities (WTRG) reported revenue of $699M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +47% from the quarter before. Operating margin was 32.5%, net earnings $133M (19.0% of revenue).
Essential Utilities, Q4 2025: revenue $699M (+16% year over year), operating margin 32.5%, net earnings $133M, operating cash flow $206M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $699M | +47% | +16% |
| Operating profit | $227M | +34% | +0.2% |
| Net earnings | $133M | +44% | -28% |
| Operating cash flow | $206M | -11% | +39% |
What changed
Revenue was $699.1M in Q4 2025, up 16% year over year and up 47% from the previous quarter. Regulated Natural Gas was the largest line at 52% of revenue.
Operating profit was $227.0M, a 32.5% margin (down 5.0 points year over year). Of the extra revenue versus a year earlier, 0% reached operating profit, below the 37% margin then. Total costs grew 25% against revenue growth of 16%. Net earnings were $132.7M, down 28% year over year. The effective tax rate was 10.3%.
Operating cash flow was $206.1M (up 39% year over year), 155% of net earnings. Non-cash charges added back $107.5M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $35.1M.
Questions
What was Essential Utilities' revenue in the fourth quarter 2025?
Essential Utilities (WTRG) reported revenue of $699M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and +47% from the quarter before.
Was Essential Utilities profitable in the fourth quarter 2025?
Operating profit was $227M (32.5% of revenue) and net earnings $133M.