The water utility reported a $0.01 EPS miss and $20.4M revenue shortfall for Q2, despite year-over-year growth.
Essential Utilities posted Q2 non-GAAP earnings per share of $0.38, missing estimates by $0.01. Revenue reached $530.9M, up 3.1% year-over-year but $20.4M below expectations.
Analysts had anticipated stronger results, with consensus estimates slightly higher for both EPS and revenue. The company’s year-over-year revenue growth of 3.1% reflects ongoing expansion but fell short of projections.
Shares rose 2.01% following the release, as investors weighed the earnings miss against long-term growth guidance.