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SAN JOSE, Calif. - H2O America (NASDAQ:HTO), a national water and wastewater utility network with a market capitalization of $1.8 billion and annual revenue of $767 million, announced the appointment of its Chief Financial Officer Andrew F. Walters to the Board of Directors, effective July 1, 2025. According to InvestingPro data, the company maintains strong profitability with a gross margin of nearly 57%. Concurrently, Walters is set to become the company’s next CEO following the retirement of current CEO Eric W. Thornburg on June 30, 2025.
Walters has been with H2O America for over 11 years, contributing to its mission of providing high-quality water services and advancing public health and safety. As CFO and treasurer since January 2022, Walters has been instrumental in the company’s financial growth and sustainability, overseeing a 12.3% revenue growth in the last twelve months. InvestingPro analysis shows the company has maintained dividend payments for 54 consecutive years, with 32 years of consecutive increases. His previous role as chief corporate development officer was pivotal in the acquisition of Connecticut Water Service, Inc. in 2019, a strategic move that underscored H2O America’s growth plan.
Before his tenure at H2O America, Walters held significant positions in the financial sector, including as a managing director in J.P. Morgan Asset Management’s Infrastructure Investments Group and leading Citigroup’s Infrastructure Investment Banking Group for the Americas.
Walters expressed his commitment to building upon the company’s strong foundation, emphasizing investment in stakeholder relationships, growth, and capital expenditure plans, as well as fostering a culture of partnership and service among employees.
H2O America serves approximately 1.6 million people across four states through its regional utilities—Connecticut Water, Maine Water, San Jose Water, and Texas Water. The company focuses on operational excellence while actively engaging in local communities to deliver sustainable value to investors. Based on InvestingPro Fair Value analysis, the stock appears slightly overvalued at current levels, though it maintains a stable dividend yield of 3.14% and shows strong financial health metrics. Unlock 6 additional exclusive ProTips and comprehensive financial analysis with InvestingPro.
This announcement is based on a press release statement from H2O America. The company’s forward-looking statements are subject to various risks, uncertainties, and assumptions that could cause actual results to differ from expectations. These include regulatory actions, changes in demand and water supply, environmental conditions, unexpected expenses, and broader economic and market conditions.
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