H2O America posted Q2 GAAP diluted EPS of $0.62, down from $0.71 a year earlier, despite GAAP net income rising 8% to $26.6 million.
Revenue climbed 6% to $210.5 million, while operating expenses increased 9% to $167.7 million.
Adjusted (non-GAAP) diluted EPS slipped to $0.72 from $0.75; adjusted net income rose 17% to $30.7 million.
The company reiterated 2026 standalone adjusted diluted EPS guidance of $3.08-$3.18, excluding pending Quadvest and Cibolo Valley acquisitions and related financing.
The Quadvest deal timeline held for end-Q3/early Q4 2026; active connections rose 10% to 59,800 as of June 30.
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