WTRG on NYSE

Essential Utilities

Logo: Aqua America, Inc., Public domain, via Wikimedia Commons4

American utility company

Essential Utilities (formerly Aqua America and Peoples Natural Gas) is an American utility company that has stakes in Illinois, Indiana, Kentucky, New Jersey, North Carolina, Ohio, Pennsylvania, Texas and Virginia. The company provides drinking water and wastewater treatment infrastructure and natural gas.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1968Founded1

Compare with American Water Works, California Water Service Group or SJW Group, or pick any stock.

  • TickerWTRG on NYSE1
  • IndustryWater Supply1
  • HeadquartersBryn Mawr1
  • Websitewww.essential.co
  • Incorporated inPA5
  • Business address762 W. Lancaster Ave, Bryn Mawr, Pa 19010-34895
  • Filer categoryLarge accelerated filer5

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Essential Utilities (formerly Aqua America and Peoples Natural Gas) is an American utility company that has stakes in Illinois, Indiana, Kentucky, New Jersey, North Carolina, Ohio, Pennsylvania, Texas and Virginia. The company provides drinking water and wastewater treatment infrastructure and natural gas. Essential Utilities is the publicly traded ($WTRG) parent company that oversees the continued business of Aqua America and Peoples Natural Gas, who both continue to do business under their original names.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

37.2%Operating margin7
24.9%Net margin7
18.6%Revenue growth, 20257
9.0%Return on equity7
1.18×Debt to equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Natural Gas brought in 46% of the revenue Essential Utilities broke down this way in fiscal 2025.

  1. Natural Gas$1.1B746%up 35% from 2024
  2. Water$1.1B745%up 8% from 2024
  3. Wastewater$222.8M79%up 12% from 2024
  4. Other$10.9M70%down 3% from 2024
Products and services by year
Products and services202320242025
Natural Gas$861.7M$832.2M$1.1B
Water$948.8M$1.0B$1.1B
Wastewater$187.4M$199.4M$222.8M
Other$14.9M$11.2M$10.9M

Business segments

Water brought in 54% of the revenue Essential Utilities broke down this way in fiscal 2025.

  1. Water$1.3B754%up 9% from 2024
  2. Natural Gas$1.1B745%up 33% from 2024
  3. Other And Eliminations$30.1M71%up 42% from 2024
Business segments by year
Business segments202320242025
Water$1.2B$1.2B$1.3B
Natural Gas$863.8M$843.0M$1.1B
Other And Eliminations$36.7M$21.2M$30.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs62¢$1.5B
  • Interest13¢$329.1M
  • Income tax0¢$3.4M
  • Profit25¢$616.4M

Out of $2.5B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid37¢$373.8M
  • Share buybacks0¢$2.3M
  • Kept or used elsewhere63¢$634.4M

Out of $1.0B of cash from operations.7

Financial statements

Revenue8910117$2.5B in 2025+178% since 2019
0$1.0B$2.0B$3.0B2019: $889.7M$889.7M20192020: $1.5B$1.5B2020+64%2021: $1.9B$1.9B2021+28%2022: $2.3B$2.3B2022+22%2023: $2.1B$2.1B2023−10%2024: $2.1B$2.1B2024+2%2025: $2.5B$2.5B2025+19%
Operating income8910117$921.0M in 2025+171% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $340.2M$340.2M20192020: $434.7M$434.7M2020+28%2021: $602.7M$602.7M2021+39%2022: $661.2M$661.2M2022+10%2023: $692.1M$692.1M2023+5%2024: $757.7M$757.7M2024+9%2025: $921.0M$921.0M2025+22%
Net income8910117$616.4M in 2025+174% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $224.5M$224.5M20192020: $284.8M$284.8M2020+27%2021: $431.6M$431.6M2021+52%2022: $465.2M$465.2M2022+8%2023: $498.2M$498.2M2023+7%2024: $595.3M$595.3M2024+19%2025: $616.4M$616.4M2025+4%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Operating revenues$2.5B$2.1B$2.1B
Operations and maintenance$639.6M$587.2M$575.5M
Purchased gas$403.8M$277.0M$352.3M
Depreciation$403.2M$363.9M$338.7M
Amortization$14.3M$5.6M$5.0M
Taxes other than income taxes$92.8M$94.6M$90.2M
Total operating expenses$1.6B$1.3B$1.4B
Operating income$921.0M$757.7M$692.1M
Interest expense$329.1M$302.5M$283.4M
Interest income-$1.7M-$3.3M-$3.4M
Allowance for funds used during construction-$26.3M-$21.3M-$17.0M
Gain on sale of other assets-$1.3M-$92.2M-$65.0K
Other$1.3M-$1.4M-$2.6M
Income before income taxes$619.8M$573.5M$431.8M
Income tax expense (benefit)$3.4M-$21.8M-$66.4M
Net income$616.4M$595.3M$498.2M
Comprehensive income$616.4M$595.3M$498.2M
Basic$2.20$2.17$1.86
Diluted$2.20$2.17$1.86
Basic280.1M shares273.9M shares267.2M shares
Diluted280.6M shares274.4M shares267.7M shares

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The story

The company began January 4, 1886, by the founding of the Springfield Water Company. The company changed its name to the Philadelphia Suburban Water Company (PSW). By 1925 the company provided water to 58 municipalities.

The company was incorporated in 1989.

The current CEO, Christopher H. Franklin, took his position in 2015.

In late 2014, the company committed to transitioning its Pennsylvania vehicle fleet to compressed natural gas (CNG) within five years.

In October 2025, American Water Works agreed to acquire the company in an all-stock merger, creating a combined company valued at $63 billion, including debt. Upon completion of the deal, expected in early 2027, American Water shareholders would own about 69% of the combined company, with Essential shareholders owning the remainder.

From Wikipedia’s article on Essential Utilities, shared under CC BY-SA 4.0.6

Leadership

Who has led Essential Utilities, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Chris Franklin2015–now

Chair

  1. Nicholas Debenedictis2003–2015

President

  1. Richard Hugus2003–2006
  2. Nicholas Debenedictis2003–2015
  3. Karl Kyriss2004–2012
  4. Michael Huwar2022–now

Chief financial officer

  1. David Smeltzer2003–2018

Chief operating officer

  1. Chris Franklin2012–2015
  2. Richard Scott Fox2015–2022
197019801990200020102020
Board members and other officers (35)

Products and brands

The company's largest water subsidiary is Aqua Pennsylvania, which has been a part of Aqua America since 1996 and accounts for slightly more than half of 2007 operating revenue and provides water services to 50% of the company's total customer base. Aqua Pennsylvania operates in the greater urban and suburban Philadelphia area.

From Wikipedia’s article on Essential Utilities, shared under CC BY-SA 4.0.6

Acquisitions

In the United States, many water utilities remain government-owned. Water was supplied by 55,000 separate water systems in 2006.

However, US and global companies have business models which involve the privatization of utilities to achieve profitability from economy of scale. Additionally, cash-strapped municipalities see benefit to selling their water supply assets.

From 1993 to 2013 Aqua America completed 300 acquisitions.

In recent years, the company has purchased smaller private utilities across 12 states, gradually extending southward. Such acquisitions comprise the bulk of Aqua America's stated business model.

Read the full text

In January 1998 Aqua America, then known as the Philadelphia Suburban Water Company (PSW) purchased the West Chester, PA municipal water utility assets.

Acquisitions of large private companies included the purchases of AquaSource in 2003, Heater and Florida Water Services in 2004, and the New York Water Service Corporation in 2007.

In October 2018 Aqua announced that it was going to purchase Peoples Natural Gas in Pittsburgh PA for $4.27 billion. This deal entered Aqua into the competitive Pittsburgh water market while taking their first step into gas utilities.

From Wikipedia’s article on Essential Utilities, shared under CC BY-SA 4.0.6

Former names

  • AQUA AMERICA INCJan 22, 2004 to Jan 16, 20205
  • PHILADELPHIA SUBURBAN CORPMay 18, 1994 to Jan 16, 20045

Timeline

  1. Jul 7, 2015New chief executive Chris Franklin becomes CEO15
  2. 1968Founded Founded1

Recent filings

  1. Oct 8, 2026425
  2. Sep 29, 2026425
  3. Sep 17, 20268-K
  4. Sep 17, 2026425
  5. Sep 9, 2026425
  6. Aug 31, 20268-K
  7. Aug 31, 2026425
  8. Aug 17, 20268-K
  9. Aug 14, 2026425
  10. Aug 11, 20264 PRIMARY DOCUMENT
  11. Aug 7, 2026144
  12. Aug 5, 20268-K
  13. Aug 5, 202610-Q
  14. Jul 31, 2026425
  15. Jun 24, 20264 PRIMARY DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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