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 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.
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New Jersey American Water is set to implement its first Lead Service Line Replacement Charge for all water and fire service customers starting February 13, 2023. The LSLR surcharge, approved by the NJ Board of Public Utilities, will recover $7.3 million for replacing customer-owned lead and galvanized service lines from July 1, 2020 to October 31, 2022. The surcharge is set at $0.01643 per 100 gallons, impacting residential customers by approximately $0.91 monthly based on average usage. The company aims to replace all lead service lines efficiently and affordably, emphasizing community partnerships.
American Water (NYSE: AWK), the largest publicly-traded U.S. water utility, announced its representatives will join policy panels at the NARUC Winter Policy Summit from February 12-15 in Washington, D.C. Key participants include Mark McDonough, discussing lead service line compliance; Deb Degillio, addressing customer equity and assistance policies; Bruce Aiton, highlighting hydroelectric generation from regulated water infrastructure; and Dr. Lauren Weinrich, focusing on emerging contaminants treatment. This summit fosters dialogue among regulators and industry leaders to enhance collaboration on regulatory policies.
American Water (NYSE: AWK) has been recognized as one of America’s Top Corporations for Women’s Business Enterprises (WBEs) by the Women's Business Enterprise National Council (WBENC). This award acknowledges corporations that excel in supplier diversity programs, promoting growth for women-owned businesses. Josh King, SVP of Supply Chain & Strategic Projects, praised the supplier diversity team's leadership in achieving this recognition. The honor aligns with American Water's commitment to supporting diverse suppliers, enhancing economic growth, and empowering local communities. For further details, visit American Water's website.
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American Water Works Company (NYSE: AWK) plans to release its 2022 fourth quarter and year-end financial results post-market on February 15, 2023. Following the results, a conference call with executives will be held on February 16, 2023, at 9 a.m. EST. This call will cover the financial results and offer a 2023 outlook, with a Q&A session included. Interested participants can access the audio webcast via the company's Investor Relations website, where presentation slides will also be available. American Water serves approximately 14 million people in 24 states, focusing on providing safe and reliable water services.
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American Water (NYSE: AWK) has announced a new agreement with the New Jersey Innovation Institute to enhance their Unmanned Aerial System (UAS) Program. This partnership will facilitate research that allows drone operations beyond visual line of sight, up to 1,500 feet in altitude. The initiative aims to improve environmental monitoring of water sources and infrastructure. Utilizing advanced aerial technology, American Water can inspect facilities safely from a distance while capturing high-resolution maps. This collaboration reflects the company's commitment to integrating UAS technology into national airspace, especially after natural disasters.
American Water (NYSE: AWK) participated in a White House and EPA event aimed at reducing lead exposure. The Biden Administration targets the replacement of all lead pipes within the next decade. Susan Hardwick, President and CEO, noted the removal of approximately 40,000 lead service lines in recent years, reflecting their commitment to water quality and public health. American Water collaborates with various stakeholders to finance infrastructure replacement programs. The Administration released guiding principles to further assist lead reduction efforts, emphasizing the need for clean drinking water.