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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.
Pennsylvania American Water is accepting entries for its 21st Annual “Protect Our Watersheds” Art Contest aimed at fourth to sixth graders. This initiative promotes awareness about water resource protection in Pennsylvania. Students are encouraged to submit artwork alongside a narrative on watershed importance. Winners, selected based on creativity and understanding, will receive bookstore gift cards and recognition. The deadline for submissions is April 22, 2023, aligning with Earth Day. The contest not only fosters artistic expression but also emphasizes the significance of environmental stewardship among the youth.
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American Water Works Company (NYSE: AWK) announced the retirement of George MacKenzie from its Board of Directors after 20 years of service, effective May 10, 2023. MacKenzie, who has been a board member since 2003 and served as Board Chair from 2006 to 2018, significantly contributed to the company's successful IPO in 2008. President and CEO Susan Hardwick expressed gratitude for his leadership and insights. MacKenzie previously held senior roles at Hercules Incorporated and P.H. Glatfelter Company, enhancing American Water's governance and strategic direction during his tenure.
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California American Water successfully activated two new pump stations on February 13, enhancing its water infrastructure and reducing reliance on the Carmel River. This $6 million investment allows water to flow from the Seaside Basin to Carmel Valley, reversing over a century-long system flow. The initiative aims to protect the Carmel River ecosystem while assuring customers that water quality remains safe following the reversal. Notifications were sent to customers to address potential temporary discoloration caused by sediment. California American Water services about 700,000 people and operates as a subsidiary of American Water (NYSE: AWK).
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American Water Works Company (NYSE: AWK) reported a full-year earnings of $4.51 per share for 2022, down from $6.95 per share in 2021, which included a $2.70 gain from the sale of its Homeowner Services Group. The fourth quarter earnings were $0.81 per share compared to $3.55 per share the previous year. In 2022, the company invested a record $2.6 billion and added 70,000 customer connections through acquisitions. American Water affirmed its 2023 EPS guidance of $4.72 to $4.82 and long-term growth targets of 7-9% for EPS and dividends. The company also reported its best safety performance and set a net zero GHG emissions target by 2050.