H2O America Q1 FY2026 earnings call

Andrew mentioned the successful equity raise of $700 million, which was oversubscribed and upsized to fund the QuadVest acquisition and 2026 - 2027 capital budget. Anne discussed first quarter 2026 results with diluted EPS of 49 cents and adjusted diluted EPS of 50 cents, citing drivers like revenue increase from rate relief, pass - through costs, and higher usage offset by higher expenses. Bruce provided regulatory updates including filings for PFAS remediation in California, rate increases in Connecticut, and updates on QuadVest acquisition, as well as capital investment and affordability efforts.

First quarter 2026 results were consistent with internal expectations and supportive of standalone 2026 EPS guidance of $3.08 to $3.18. Expect to stay out of equity markets through at least year - end 2027 with $400 million board agreement component, and expect to raise $100 - $200 million of debt for QuadVest transaction. Anticipate closing QuadVest acquisition in second half of 2026, and Texas to file general rate case for new rates to take effect early 2028.

Alex Kania asked about QuadVest rate case and affordability, with Bruce responding on engagement with stakeholders and rate design considering affordability. Davis Sunderland asked about QuadVest closing timeline and PFAS treatment, with Bruce and Andrew discussing closing in latter half of 2026 and participation in PFAS and microplastics research and regulation