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How Essential Utilities (WTRG) makes money

Essential Utilities (WTRG) made $508M of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Regulated Water brought in $313M (62%); Regulated Natural Gas brought in $123M (24%); Wastewater brought in $64.8M (13%). Of every dollar of revenue, 38¢ was left as operating profit, 20¢ was left as net earnings.

Drawing the Sankey…

Essential Utilities revenue by segment, Q3 2026Essential Utilities revenue by segment, Q3 2026Regulated Water$313MRegulated Natural Gas$123MWastewater$64.8MOther$8.2M
Essential Utilities: revenue by line, Q1 2025 to Q3 2026Essential Utilities: revenue by line, Q1 2025 to Q3 2026Regulated WaterRegulated Natural GasWastewaterOtherRegulated Water: $313M latest$313MRegulated Natural Gas: $123M latest$123MWastewater: $64.8M latest$64.8MOther: $8.2M latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Regulated Natural Gas went from 60% of revenue in Q1 2025 to 24% in Q3 2026, the largest shift in the mix.
Essential Utilities revenue by quarterEssential Utilities revenue by quarter$784MQ1 2025$515MQ2 2025$477MQ3 2025$699MQ4 2025$862MQ1 2026$531MQ2 2026$508MQ3 2026
Essential Utilities: where each dollar of revenue goesEssential Utilities: where each dollar of revenue goesOperating profit38¢Income tax1¢Net earnings20¢Operating cash flow45¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Regulated Water$313M61.5%+7%+4%
Regulated Natural Gas$123M24.1%-28%+13%
Wastewater$64.8M12.8%+3%+9%
Other$8.2M1.6%+14%+15%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$508M100.0%
Operating profit$193M37.9%
Income tax$6.6M1.3%
Net earnings$104M20.4%
Operating cash flow$229M45.1%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$508M+7%
Q2 2026$531M+3%
Q1 2026$862M+10%
Q4 2025$699M+16%
Q3 2025$477M+10%
Q2 2025$515M+18%
Q1 2025$784M+28%

From Essential Utilities' 10-Q filed Nov 4, 2026 (on EDGAR).

Questions

How does Essential Utilities make money?

Essential Utilities (WTRG) made $508M of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Regulated Water brought in $313M (62%); Regulated Natural Gas brought in $123M (24%); Wastewater brought in $64.8M (13%). Of every dollar of revenue, 38¢ was left as operating profit, 20¢ was left as net earnings.

What is Essential Utilities' biggest business?

Regulated Water: $313M in the third quarter 2026, 62% of revenue, +4% from a year earlier.

What is Essential Utilities' profit margin?

Net earnings were $104M, 20.4% of revenue, in the third quarter 2026; the operating margin was 37.9%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.