Three Months Ended

Three Months Ended

June 30, 2025

June 30, 2024

Regulated Water

Regulated Natural Gas

Total Reportable Segments

Other and Elims

Consolidated

Regulated Water

Regulated Natural Gas

Total Reportable Segments

Other and Elims

Consolidated

Revenues from external customers

$

332,282 

$

176,761 

$

509,043 

$

5,864 

$

514,907 

$

302,479 

$

127,801 

$

430,280 

$

4,126 

$

434,406 

Intersegment revenues

-

560

560

(560)

-

-

387 

387 

(387)

-

Total operating revenues

$

332,282 

$

177,321 

$

509,603 

$

5,304 

$

514,907 

$

302,479 

$

128,188 

$

430,667 

$

3,739 

$

434,406 

Operations and maintenance expense

$

100,149 

$

49,786 

$

149,935 

$

(1,425)

$

148,510 

$

95,575 

$

49,709 

$

145,284 

$

(2,772)

$

142,512 

Purchased gas

$

-

$

53,532 

$

53,532 

$

3,203 

$

56,735 

$

-

$

32,680 

$

32,680 

$

1,048 

$

33,728 

Depreciation and amortization

$

64,731 

$

38,299 

$

103,030 

$

489 

$

103,519 

$

57,625 

$

32,632 

$

90,257 

$

389 

$

90,646 

Taxes other than income taxes

$

17,655 

$

2,491 

$

20,146 

$

726 

$

20,872 

$

16,425 

$

5,103 

$

21,528 

$

705 

$

22,233 

Interest expense, net

$

37,032 

$

25,833 

$

62,865 

$

16,643 

$

79,508 

$

34,450 

$

20,869 

$

55,319 

$

17,450 

$

72,769 

Allowance for funds used during construction

$

(5,622)

$

(1,405)

$

(7,027)

$

-

$

(7,027)

$

(3,962)

$

(1,267)

$

(5,229)

$

-

$

(5,229)

Gain on sale of other assets

$

(256)

$

-

$

(256)

$

-

$

(256)

$

(197)

$

-

$

(197)

$

(6)

$

(203)

Other segment items ^(b)

$

273 

$

(127)

$

146 

$

501 

$

647 

$

379 

$

9 

$

388 

$

313 

$

701 

Provision for income taxes (benefit)

$

17,840 

$

(8,604)

$

9,236 

$

(4,664)

$

4,572 

$

14,505 

$

(9,830)

$

4,675 

$

(2,811)

$

1,864 

Net income (loss)

$

100,480 

$

17,516 

$

117,996 

$

(10,169)

$

107,827 

$

87,679 

$

(1,717)

$

85,962 

$

(10,577)

$

75,385 

Six Months Ended

Six Months Ended

June 30, 2025

June 30, 2024

Regulated Water

Regulated Natural Gas

Total Reportable Segments

Other and Elims

Consolidated

Regulated Water

Regulated Natural Gas

Total Reportable Segments

Other and Elims

Consolidated

Revenues from external customers

$

633,130 

$

646,212 

$

1,279,342 

$

19,191 

$

1,298,533 

$

582,372 

$

451,133 

$

1,033,505 

$

12,970 

$

1,046,475 

Intersegment revenues

-

1,906 

1,906 

(1,906)

-

-

1,386 

1,386 

(1,386)

-

Total operating revenues

$

633,130 

$

648,118 

$

1,281,248 

$

17,285 

$

1,298,533 

$

582,372 

$

452,519 

$

1,034,891 

$

11,584 

$

1,046,475 

Operations and maintenance expense

$

189,567 

$

105,461 

$

295,028 

$

(8,694)

$

286,334 

$

186,258 

$

95,626 

$

281,884 

$

(2,472)

$

279,412 

Purchased gas

$

-

$

230,491 

$

230,491 

$

10,885 

$

241,376 

$

-

$

158,222 

$

158,222 

$

5,181 

$

163,403 

Depreciation and amortization

$

125,360 

$

76,638 

$

201,998 

$

898 

$

202,896 

$

114,819 

$

65,043 

$

179,862 

$

588 

$

180,450 

Taxes other than income taxes

$

33,247 

$

8,245 

$

41,492 

$

2,259 

$

43,751 

$

32,749 

$

12,323 

$

45,072 

$

2,185 

$

47,257 

Interest expense, net

$

73,595 

$

51,973 

$

125,568 

$

35,776 

$

161,344 

$

69,240 

$

46,225 

$

115,465 

$

29,588 

$

145,053 

Allowance for funds used during construction

$

(10,354)

$

(2,505)

$

(12,859)

$

-

$

(12,859)

$

(7,650)

$

(2,260)

$

(9,910)

$

-

$

(9,910)

Gain on sale of other assets ^(a)

$

(493)

$

-

$

(493)

$

-

$

(493)

$

(241)

$

(91,581)

$

(91,822)

$

(6)

$

(91,828)

Other segment items ^(b)

$

537 

$

(254)

$

283 

$

308 

$

591 

$

299 

$

(322)

$

(23)

$

282 

$

259 

Provision for income taxes (benefit)

$

13,269 

$

(28,952)

$

(15,683)

$

(340)

$

(16,023)

$

35,315 

$

(38,980)

$

(3,665)

$

(5,113)

$

(8,778)

Net income (loss)

$

208,402 

$

207,021 

$

415,423 

$

(23,807)

$

391,616 

$

151,583 

$

208,223 

$

359,806 

$

(18,649)

$

341,157 

Capital expenditures

$

316,378

$

296,251

$

612,629

$

-

$

612,629

$

302,085 

$

246,783 

$

548,868 

$

-

$

548,868