American Water Works pany(AWK) - 2025 Q1 - Quarterly Results

Earnings Performance - First quarter 2025 earnings per share were $1.05, an increase of 10.5% compared to $0.95 per share in the same quarter of 2024[1][4][5] - The company affirms its 2025 earnings per share guidance range of $5.65 to $5.75, which includes approximately $0.10 per share of incremental interest income[3][4] - Net income attributable to common shareholders for Q1 2025 was $205 million, compared to $185 million in Q1 2024, reflecting a year-over-year increase of 10.8%[21] Dividends - A quarterly cash dividend of $0.8275 per share was announced, representing an increase of 8.2%[4][12] Revenue and Income - The Regulated Businesses' net income for Q1 2025 was $201 million, up from $185 million in Q1 2024, with operating revenues increasing by $121 million[7][5] - Operating revenues for Q1 2025 increased to $1,142 million, up from $1,011 million in Q1 2024, representing a growth of 12.9%[21] Expenses - Operating expenses increased by $78 million in Q1 2025 compared to the same period in 2024, primarily due to higher employee-related costs and depreciation expenses[9][10] - Total operating expenses for Q1 2025 were $771 million, an increase from $685 million in Q1 2024, which is a rise of 12.6%[21] Capital Investment - The company invested $518 million in capital projects during the first three months of 2025, with a total planned investment of approximately $3.3 billion for the year[6] - The company successfully issued $800 million of 5.250% senior notes due 2035 to support its capital investment plan[11] Interest Income - Incremental interest income for Q1 2025 was $0.03 per share, compared to $0.02 per share in Q1 2024, due to an amendment to the secured seller note[5] Regulatory Matters - The company is pursuing general rate cases in three jurisdictions and has filed for an infrastructure surcharge in one jurisdiction, reflecting a total annualized revenue request of $100 million[8] - The company has been authorized additional annualized revenues of $161 million since January 1, 2025, with $138 million from general rate cases[8] Balance Sheet - The company's total assets as of March 31, 2025, were $33,156 million, compared to $32,830 million at the end of 2024, marking a growth of 1.0%[22] - Long-term debt increased to $13,318 million as of March 31, 2025, up from $12,518 million at the end of 2024, representing an increase of 6.4%[23] - Current liabilities decreased to $2,447 million as of March 31, 2025, down from $3,150 million at the end of 2024, a reduction of 22.3%[23] - Cash and cash equivalents rose to $114 million as of March 31, 2025, compared to $96 million at the end of 2024, reflecting an increase of 18.8%[22] Tax Provision - The company reported a provision for income taxes of $65 million for Q1 2025, compared to $57 million in Q1 2024, which is an increase of 14.0%[21] Regulatory Assets - Regulatory assets totaled $1,162 million as of March 31, 2025, slightly up from $1,150 million at the end of 2024, indicating a growth of 1.0%[22]