American Water Works Company, Inc. reports developments tied to its regulated water and wastewater utility operations across the United States. The company provides drinking water and wastewater services to about 14 million people through regulated operations in 14 states and on 18 military installations, with operating subsidiaries including California American Water, Pennsylvania American Water, Maryland American Water, Virginia American Water, Illinois American Water, Iowa American Water and Tennessee American Water.
News for AWK commonly covers annual water quality and Consumer Confidence Reports, state-level service updates, infrastructure investment, public utility rate proceedings, drinking water standards, community programs and subsidiary activity in local service territories. Updates also reference the company’s long operating history and its role in regulated water and wastewater service delivery.
American Water Works Company (NYSE: AWK) reported Q3 2021 diluted earnings of $1.53 per share, up from $1.46 in 2020. Year-to-date earnings reached $3.40 per share, a $0.29 increase from 2020. Despite a $0.07 per share weather impact, results showed a 10% increase year-over-year on a weather-normalized basis. The company affirmed its 2021 EPS guidance of $4.18 to $4.28 and established 2022 guidance at $4.39 to $4.49. Long-term EPS CAGR target is set at 7-9% for 2022-2026. The sale of the Homeowner Services business for approximately $1.275 billion aims to enhance growth in regulated sectors.
American Water has announced a deal to sell its Homeowner Services Group to Apax Partners LLP for approximately $1.275 billion. The transaction includes $480 million in cash and a $720 million Seller’s Note with 7% interest over five years. An additional $75 million could be earned if milestones are met by December 31, 2023. Proceeds will strengthen its core regulated business and fund capital investments. The sale is expected to close in Q4 2021, pending regulatory approvals.
American Water Works Company (NYSE: AWK) has declared a quarterly cash dividend of $0.6025 per share, payable on December 1, 2021, to shareholders of record by November 10, 2021. This marks a continuation of the annualized dividend increase announced in April 2021. American Water also offers a dividend reinvestment and direct stock purchase plan called American Water Stock Direct, allowing shareholders to reinvest dividends and purchase additional shares without brokerage fees.
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Illinois American Water is set to build a new operations and distribution facility in Jerseyville, aimed at enhancing operational efficiency and customer service. Scheduled for construction this fall, the 16,000 sq. ft. facility will feature a customer payment window, maintenance garage, and dedicated training space for employee safety. This investment reflects the company's commitment to improving service quality for its 1.3 million customers in Illinois. The project, managed by Helmkamp Construction, is expected to be completed by the end of 2022.
American Water Works Company (NYSE: AWK) has announced that it will release its 2021 third quarter financial results on November 2, 2021. The earnings call and webcast for investors will take place on November 3, 2021, at 9 a.m. EDT. President Walter Lynch and CFO Susan Hardwick will lead the call, which will include a Q&A session. An audio archive of the call will be available until November 10, 2021. The company recognizes its website as a vital communication channel for public investors.
A new study by Opinium for American Water reveals that Americans underestimate their daily water usage by 90%, believing it to be under 100 gallons, while the actual average is over 2,000 gallons. The study highlights the substantial water footprint of common items, with misconceptions about the water needed to produce clothing and food. Key findings include the 4,688 gallons required for a holiday turkey and 2,600 gallons for a pair of jeans. The survey aims to raise awareness about water consumption ahead of the 'Imagine a Day Without Water' event on October 21.
A recent study by Opinium for American Water reveals that Americans grossly underestimate their daily water usage, believing they consume less than 100 gallons, while the actual average exceeds 2,000 gallons. The survey, conducted ahead of the 'Imagine a Day Without Water' event on October 21, highlights significant awareness gaps regarding water consumption in daily products. For instance, a pair of jeans requires about 2,600 gallons to produce, while a smartphone consumes over 3,400 gallons. Despite the unawareness, 90% of Americans express willingness to adopt water conservation habits.
New Jersey American Water announces its H2O Help to Others Program™ during Utility Assistance Week (October 18-22), aimed at aiding customers facing financial hardships in paying their water or wastewater bills. The program offers grants up to $500 and potential discounts on service charges. The company emphasizes outreach efforts as the utility shut-off grace period ends on December 31, 2021. New Jersey SHARES will assist in providing information through various channels, including a virtual session on November 22.
American Water Works Company (NYSE: AWK) has appointed Rich Svindland as president of Missouri American Water, succeeding the retiring Deborah Dewey. Kevin Tilden will take over as president of California and Hawaii American Water, replacing Svindland. These changes are effective October 14, 2021. Both Svindland and Tilden have extensive experience in water utility management and demonstrate a commitment to the company's core values. American Water continues to lead the U.S. water utility sector with a diverse team serving over 15 million customers nationwide.