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 Q2 2021 earnings of $1.14 per share, up 17.5% from $0.97 in 2020. The first half of 2021 saw investments of $782 million, primarily for infrastructure improvements. With strong performance in Regulated Businesses, net income rose to $215 million, driven by authorized revenues and increased demand. However, lower results in the Homeowner Services Group impacted overall performance. The company declared a quarterly dividend of $0.6025 per share and maintains a 2021 EPS guidance of $4.18 to $4.28.
Illinois American Water is investing over $8 million in Champaign County to upgrade its water and wastewater systems. Key projects involve replacing more than 24,000 feet of water mains and approximately 7,000 feet of sewer main lining. These upgrades aim to enhance water flow, pressure, and service reliability, addressing the community's growth needs. Since acquiring the Village of Fisher's systems in 2018, Illinois American Water has committed to investing $2.9 million over five years for improvements. Customer communication during construction is prioritized to minimize inconvenience.
American Water Works Company (NYSE: AWK) has declared a quarterly cash dividend of $0.6025 per share, payable on September 1, 2021, to shareholders of record as of August 10, 2021. This dividend continues the increase in the annualized dividend approved by the Board in April 2021. The company also offers a dividend reinvestment and direct stock purchase plan, enabling shareholders to reinvest dividends without brokerage fees. For more details, investors can contact American Stock Transfer & Trust Company or visit their Investor Relations webpage.
California American Water has commenced construction on a new well in Dunnigan, California, representing a significant upgrade to the water system. The company is investing approximately $1 million to enhance the reliability of water services, ensuring a redundant supply for drinking and fire protection. This new well will replace an offline well due to water quality issues since the 2015 acquisition. With over $3 million invested in local water quality improvements, the project is expected to be completed by the first quarter of 2022.
Illinois American Water has partnered with Jerseyville to establish a permanent pharmaceutical disposal program, installing a drop box at the Jerseyville Police Department. This initiative encourages residents to safely dispose of unwanted medications through incineration, aligning with EPA guidelines. The program is part of a broader effort to create a secure network of pharmaceutical collection centers across Illinois, supported by local partnerships. The P2D2 model, developed by Pontiac High School students, has been recognized for its impact, contributing to the proper disposal of hundreds of thousands of pounds of medications.
American Water Works Company (NYSE: AWK) plans to release its 2021 second quarter financial results after market close on August 2, 2021. CEO Walter Lynch and CFO Susan Hardwick will lead a conference call on August 3, 2021, at 9 a.m. EDT for investors and analysts, featuring a Q&A session. Interested parties can access the call's audio via the Investor Relations webpage. An audio archive will be available until August 10, 2021. American Water serves 15 million customers across 46 states, providing essential water and wastewater services.
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Illinois American Water is introducing tips for customers to reduce water usage and avoid high bills during summer. With increased outdoor activities, the company aims to help consumers conserve water while alleviating pressure on local supplies. Recommendations include reusing water from rain barrels, using buckets for washing, watering at cooler times, and planting drought-resistant varieties. The company also encourages monitoring water usage through their MyWater platform and highlights assistance programs for bill payments.
Missouri American Water has announced four major projects aimed at upgrading 10,500 feet of water main in Jefferson City, with a total investment of $2.4 million. These upgrades will replace aging pipes and enhance water service reliability for current and future customers. The projects include:
- Industrial Drive (Phase I): 2,300 feet of 12-inch PVC.
- Industrial Drive (Phase II): 4,200 feet of 12-inch main.
- Green Berry Road: 2,000 feet of 8-inch main.
- Jackson Street & Stadium Blvd: 1,800 feet of new main to support the new stadium.
Work is expected to be completed by late fall.