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Essential . UTILITIES Essential Utilities Reports Financial Results for Q2 2021 August 4 , 2021 Earns $ 0.32 earnings per share ; reaffirms annual earnings guidance Publishes 2020 ESG report BRYN MAWR , Pa .-- ( BUSINESS WIRE ) -- Aug . 4 , 2021-- Essential Utilities Inc. ( NYSE : WTRG ) ( " Essential " ) , today reported results for the second quarter ended June 30 , 2021 . " We delivered strong earnings in the first half of the year while continuing to provide essential services across our 10 - state footprint , " said Essential Chairman and Chief Executive Officer Christopher Franklin . " We remain focused on our mission as we continue to make significant investments in infrastructure and remain confident in our ability to reaffirm our 2021 earnings guidance range of $ 1.64 to $ 1.69 per share . " Operating Results Essential reported net income of $ 80.9 million for the second quarter 2021 , an 8.4 % increase compared to $ 74.6 million reported for the same quarter 2020. Earnings per share were $ 0.32 for the quarter compared to $ 0.29 per share for the second quarter 2020. Rates and surcharges and increased volume in the regulated water segment were the primary drivers of the increase in earnings . Essential's revenues for the quarter were $ 397.0 million , an increase of 3.3 % compared to $ 384.5 million in the second quarter of 2020. Rates and surcharges , increased volume and growth from the regulated water segment , and higher purchased gas prices were the largest contributors to the increase in revenues for the quarter . Operations and maintenance expenses decreased slightly to $ 127.5 million for the second quarter of 2021 compared to $ 128.6 million in the second quarter of 2020 . Essential's regulated water segment reported revenues for the quarter of $ 248.2 million , an increase of 6.0 % compared to $ 234.1 million in the second quarter of 2020. Rates and surcharges , customer growth , and increased volume were the largest contributors to the increase in revenues for the period . Operations and maintenance expenses for Essential's regulated water segment increased 1.5 % to $ 77.8 million for the second quarter of 2021 compared to $ 76.6 million . Essential's regulated natural gas segment reported revenues for the quarter of $ 141.6 million , a decrease of 3.6 % compared to $ 146.9 million in the second quarter of 2020. Lower gas volume was the largest driver in the decrease , resulting from warmer weather in the early part of the second quarter of 2021 as compared to the same period of 2020. Operations and maintenance for the same period for Essential's regulated natural gas segment increased to $ 52.3 , or 2.9 % from $ 50.9 million in the second quarter of 2020. Purchased gas costs were $ 39.8 million for the quarter as compared to $ 41.6 million for the same quarter in 2020. The second quarter of 2021 represents the first quarter of comparable results for the regulated natural gas segment since closing on the Peoples transaction on March 16 , 2020 . As of June 30 , 2021 , Essential reported year - to - date net income of $ 264.6 million or $ 1.04 per share ( GAAP ) compared to $ 126.4 million or $ 0.50 per share ( GAAP ) reported through the same period of 2020. Year - over - year comparisons were impacted by the Peoples transaction , which closed on March 16 , 2020. Results for the first half of 2021 include the full six months of operating results of Peoples , which comprises the company's regulated natural gas segment . For the first half of 2020 , adjusted income and adjusted income per share ( both non - GAAP financial measures ) excluded Peoples - related transaction expenses and included a normalized pro forma adjustment for the Peoples operating results for the period Jan. 1 , 2020 to March 15 , 2020 to provide the basis for a 2020 full - year run rate of operating results . Adjusting for those items , Essential's adjusted income in the first six months of 2020 was $ 228.3 million ( non - GAAP ) , or $ 0.90 per share ( non - GAAP ) . When compared to the adjusted income in the first six months of 2020 , earnings in the first half of 2021 increased 15.9 % . Please refer to the reconciliation of GAAP to non - GAAP financial measures later in this press release for additional information on Essential's use of non - GAAP financial measures as a supplement to its GAAP results . For the first six months of 2021 , the company reported revenues of $ 980.6 million , an increase of 53.2 % compared to $ 640.1 million in the first half of 2020. Operations and maintenance expenses for the first half of 2021 were $ 252.6 million compared to $ 235.2 million in 2020 . Dividend On July 2 , 2021 , Essential's board of directors declared a quarterly cash dividend of $ 0.2682 per share of common stock . This increase represents a 7 % increase to the quarterly dividend rate and is the company's 31 st increase in the last 30 years . This dividend will be payable on Sept. 1 , 2021 to shareholders of record on Aug. 13 , 2021. Essential has paid a consecutive quarterly cash dividend for 76 years . Environmental , Social and Governance Essential is publishing its 2020 Environmental , Social and Governance ( ESG ) report on Aug. 5 , 2021. The updated report fully incorporates the natural gas segment and is aligned with a number of leading reporting frameworks and principles , including those set by the Sustainability Accounting Standards Board ( SASB ) , the Task Force on Climate - related Financial Disclosures ( TCFD ) , the CDP climate change survey ( CDP ) , and the United Nations Sustainable Development Goals ( UN SDGs ) . " We are proud to be able to share our ESG efforts , progress and commitments with our customers , shareholders , employees and the communities we serve . We believe this to be among the most comprehensive and accessible ESG reporting in the utility industry . The strength of our company is not only measured by our financial performance , but also by our commitment to environmental stewardship , sustainable business practices , employee