Financial Data and Key Metrics Changes - The company reported earnings of $4.90 per share for 2023, an increase of $0.39 per share compared to 2022, and $0.32 per share on a weather-normalized basis [25][5] - Increased revenues were driven by general rate cases completed in late 2022 and early 2023, reflecting significant investments in systems [25] - Operating costs increased due to higher pension expenses of about $0.13 per share and increased chemical costs of about $0.11 per share [26] Business Line Data and Key Metrics Changes - The company closed on acquisitions totaling $77 million across eight states in 2023, with 25 transactions under agreement totaling $589 million and 88,000 customer connections [28] - Rate-based growth is expected to drive earnings growth, with a long-term target of 8% to 9% [13] Market Data and Key Metrics Changes - The company has $390 million in annualized new revenues and rates since January 2023, with $670 million of total annualized revenue requests pending [17] - The regulatory environment in Pennsylvania is undergoing changes, which may impact the timing of acquisitions [29] Company Strategy and Development Direction - The company aims for 7% to 9% EPS and dividend growth, supported by significant investments in infrastructure and acquisitions [8][9] - The focus remains on customer affordability and operating efficiency, with ongoing strategies around rate design and technology [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing plans for 2024 and beyond, highlighting strong performance amid challenging macroeconomic conditions [7][10] - The company continues to receive support from state and federal levels for infrastructure improvements [10][11] Other Important Information - The company is actively involved in addressing regulatory challenges related to PFAS and lead service lines, with significant investments planned [21][22] - The five-year capital plan includes $1 billion for PFAS and approximately $500 million for lead service line replacements [21] Q&A Session Summary Question: M&A appetite and geographic aversions - Management emphasized the need for confidence in regulatory environments and growth potential before pursuing M&A opportunities [38][39] Question: CapEx upside related to lead and copper rule - Management indicated it is too early to provide guidance on impacts to the overall plan, noting the longer timeline for compliance compared to PFAS [40][41] Question: Update on Pennsylvania rate case - Management confirmed the case is proceeding as planned, focusing on investment recovery without significant policy changes [48][50] Question: Regulatory outcomes in Illinois - Management stated that the Illinois case is on schedule and focused on investment, with no significant issues anticipated [54][55] Question: Fair market value changes - Management believes the commission process is the best path to resolve fair market value issues, with ongoing discussions expected [86][87]

MECHANICSBURG, Pa.--(BUSINESS WIRE)--Pennsylvania American Water is delighted to announce the launch of the American Water Charitable Foundation 2024 Water and Environment Grant Program. To streamline the grant experience for its community partners, the Foundation has combined Pennsylvania American Water’s former Environmental Grant Program with its Water and Environment Grant Program. This strategic integration will strengthen the Foundation’s charitable focus and impact across American Water’s footprint. ...

Wall Street started 2024 on a high, with the Dow and S&P 500 hitting fresh highs. However, the rally came to a sudden halt on Feb 12 as fresh inflation data dented investors’ confidence and dimmed hopes of a rate cut in March.The Labor Department reported that inflation rose more than expected in January and remained stubbornly high.The consumer price index (CPI) jumped 0.3% in January on a month-over-month basis, higher than the consensus estimate of 0.2%. On a year-over-year basis, CPI increased 3.1% in J ...

American Water Works Company (AWK) posted fourth-quarter 2023 operating earnings per share (EPS) of 88 cents, which surpassed the Zacks Consensus Estimate of 84 cents by 4.8%. The bottom line improved 8.6% from the year-ago quarter's earnings of 81 cents.The company's 2023 EPS was $4.90, up 8.6% from $4.51 reported in 2022.  The year-over-year improvement in earnings was due to favorable impacts of the implementation of new rates in Regulated businesses, offset somewhat by increased operating costs. The res ...

American Water Works (AWK) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.81 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.76%. A quarter ago, it was expected that this water utility would post earnings of $1.55 per share when it actually produced earnings of $1.66, delivering a surprise of 7.10%.Over the last four quarters, the ...

CAMDEN, N.J.--(BUSINESS WIRE)--American Water Works Company, Inc. (NYSE: AWK) today reported earnings of $0.88 per share for the fourth quarter 2023 compared to $0.81 per share in 2022, and full year earnings in 2023 of $4.90 per share compared to $4.51 per share in 2022. “American Water once again successfully executed on its strategies and achieved on-plan earnings growth in 2023. We invested a record $2.7 billion in regulated operations, led by infrastructure renewal, and the completion of 23 acquisit ...

Investors with an interest in Utility - Water Supply stocks have likely encountered both Veolia Environnement SA (VEOEY) and American Water Works (AWK) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that ta ...

MECHANICSBURG, Pa.--(BUSINESS WIRE)--In conjunction with Black History Month, celebrating the rich cultural heritage, triumphs and struggles of one the United States’ diverse populations, Pennsylvania American Water today announced the recipients of its annual corporate funding aimed at supporting inclusion, diversity and equity efforts. Charitable donations awarded to 13 organizations across the company’s service territory totaled $36,500. “ Investing in organizations that promote inclusion, diversity and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34028 AMERICAN WATER WORKS COMPANY, INC. (Exact name of registrant as specified in its charter) Delaware 51-006369 ...

Core Points - California American Water is appealing a court decision that vacated a resolution denying the Monterey Peninsula Water Management District's (MPWMD) application to become a retail water supplier, which is necessary for MPWMD to serve Monterey customers [1][2] - The LAFCO decision is linked to Measure J, a 2018 ballot initiative aimed at exploring the feasibility of MPWMD acquiring California American Water's Monterey assets, which has resulted in MPWMD spending over $3 million on legal and consulting fees over five years [2] - California American Water has been operating the water system in the Monterey area for over 60 years, employing around 100 local professionals, including licensed operators and engineers [3] Company Overview - American Water is the largest regulated water and wastewater utility company in the U.S., serving over 14 million people across 14 jurisdictions and 18 military installations [4] - California American Water, a subsidiary of American Water, provides reliable water and wastewater services to approximately 700,000 people [5]