American Water Works

Last updated
American Water Works Company, Inc.
Company type Public company
Industry Utilities
Water and wastewater
Founded1886;138 years ago (1886)
Founders
  • James S. Kuhn
  • W.S. Kuhn
Headquarters
Camden, New Jersey
,
U.S.
Key people
M. Susan Hardwick, President and CEO
Cheryl Norton, EVP and Chief Operating Officer
John C. Griffith, EVP and Chief Financial Officer
James H. Gallegos, EVP and General Counsel
Melanie M. Kennedy, EVP and Chief Human Resources Officer
Products Water
RevenueIncrease2.svg US$3.93 billion(2021) [1]
Increase2.svg US$1.20 billion (2021)
Increase2.svg US$1.26 billion (2021)
Total assets Increase2.svg US$26.08 billion (2021)
Total equity Increase2.svg US$7.30 billion (2021)
Number of employees
6,500 [2]
Divisions California American Water
Hawaii American Water
Illinois American Water
Indiana American Water
Iowa American Water
Kentucky American Water
Maryland American Water
Missouri American Water
New Jersey American Water
Pennsylvania American Water
Tennessee American Water
Virginia American Water
West Virginia American Water
American Water Military Services Group
Website American Water Corporate
The Iowa American Water Company plant in Davenport, Iowa, on the banks of the Mississippi River Iowa American Water Company in Davenport, Iowa.jpg
The Iowa American Water Company plant in Davenport, Iowa, on the banks of the Mississippi River

American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.

Contents

Its regulated operations provide water and wastewater services to approximately 1,700 communities in 14 states, serving a population of approximately 14 million. The company has 3.4 million customers which includes residential, commercial, fire service and private fire, industrial, government facilities, and other water and wastewater utilities. [3]

The shares are traded on the NYSE under the ticker AWK. [4]

History

The utility was founded in 1886 as the American Water Works & Guarantee Company. [5] In 1914, American Water Works and Guarantee Company became American Water Works and Electric Company. [5] In 1947 it was reorganized as American Water Works Company, Inc. [6]

Since December 2018, the company has its headquarters in Camden, New Jersey, [7] and has about 6,500 professionals who provide drinking water, wastewater and related services to over 14 million people in 24 U.S. states. [8]

Most of American Water's services are locally managed utility subsidiaries that are regulated by the U.S. state in which each operates. American Water also owns subsidiaries that manage municipal drinking water and wastewater systems under contract and others that supply businesses and residential communities with water management products and services. [9]

In 2003, American Water established the American Water Military Services Group, which partners with the Department of Defense through the Utilities Privatization (UP) Program. Through this program, the company has a 50-year contract to provides water and wastewater utility services at 18 military installations in the U.S. [10]

In October 2021, American Water sold its homeowner services group to Apax Partners for $1.27 billion. [11]

Acquisitions

In May 2022, Pennsylvania American Water, a division of American Water, acquired the wastewater system assets for the City of York for $235.3 million. [12]

Recent significant acquisitions by State:

Utilities

The company owns 80 surface water treatment plants, 480 groundwater treatment plants, 175 wastewater treatment plants, 53,500 miles of pipes, 1,100 groundwater wells, 1,700 water and wastewater pumping stations, 1,100 treated water storage facilities, and 73 dams. The company serves 14 million people with regulated operations in 14 states and on 18 military installations. Services provided by American Water's utilities are subject to regulation by multiple state utility commissions or other entities engaged in utility regulation. Federal, state and local governments also regulate environmental, health and safety, and water quality and water accountability matters. [9]

Awards

2024

2023

Financials

YearRegulated Business Revenue
in million US$		Net income
in million US$		Price per Share
in US$		Employees
2020 [21] 3,255709153.477,000
2021 [21] 3,3841,263188.866,400
2022 [21] 3,505820150.316,500
2023 [22] 3,920944117.756,500

See also

Related Research Articles

<span class="mw-page-title-main">Constellation Energy</span> Energy company headquartered in Baltimore, Maryland

Constellation Energy Corporation is an American energy company headquartered in Baltimore, Maryland. The company provides electric power, natural gas, and energy management services. It has approximately two million customers across the continental United States.

<span class="mw-page-title-main">FirstEnergy</span> American electric utility

FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997. Its subsidiaries and affiliates are involved in the distribution, transmission, and generation of electricity, as well as energy management and other energy-related services. Its ten electric utility operating companies comprise one of the United States' largest investor-owned utilities, based on serving 6 million customers within a 65,000-square-mile (170,000 km2) area of Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, and New York. Its generation subsidiaries control more than 16,000 megawatts of capacity, and its distribution lines span over 194,000 miles. In 2018, FirstEnergy ranked 219 on the Fortune 500 list of the largest public corporations in the United States by revenue.

<span class="mw-page-title-main">Apax Partners</span> British private equity firm

Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2023, the firm had raised and advised funds of approximately $65 billion (USD). Apax Partners is one of the oldest and largest private equity firms operating on an international basis.

Suez North America is an American water service company headquartered in Paramus, New Jersey. It owns and operates 16 water and waste water utilities, and operates 90 municipal water and waste water systems through public-private partnerships and contract agreements. The company has over 2,300 employees, and in 2013, United Water generated $764 million in revenue, and managed $3.2 billion in total assets. The original business was founded as Hackensack Water Company in 1869 and later named United Water. It became a subsidiary of Suez Environnement, a French-based utility company, in 2000, and changed its name to reflect that of its parent company in 2015.

<span class="mw-page-title-main">Ameren</span> American utilities provider

Ameren Corporation is an American power company created December 31, 1997, by the merger of St. Louis, Missouri's Union Electric Company and the neighboring Central Illinois Public Service Company of Springfield, Illinois. It is now a holding company for several power companies and energy companies. The company is based in St. Louis, serving 2.4 million electric, and 900,000 natural gas customers across 64,000 square miles in central and eastern Missouri and the southern four-fifths of Illinois by area.

NiSource Inc. is one of the largest fully regulated utility companies in the United States, serving approximately 3.5 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. The company, based in Merrillville, Indiana, has more than 8,000 employees. As of 2018, NiSource is the sole Indiana-based utility company.

<span class="mw-page-title-main">Sempra</span> Utility holding company

Sempra is a North American public utility holding company based in San Diego, California. The company is one of the largest utility holding companies in the United States with nearly 40 million consumers. Sempra's focus is on electric and natural gas infrastructure and its operating companies include: Southern California Gas Company (SoCalGas) and San Diego Gas & Electric (SDG&E) in Southern California; Oncor Electric Delivery Company in Texas; and Sempra Infrastructure, with offices in California and Texas.

<span class="mw-page-title-main">Enmax</span> Calgary, Alberta municipal energy utility

Enmax Corporation is a vertically integrated utility with operations across Alberta, Canada, and in Maine, U.S. Through its subsidiaries, ENMAX Power Corporation and Versant Power, ENMAX owns and operates transmission and distribution utilities that deliver electricity to customers in Calgary, Alberta, and northern and eastern Maine. Through ENMAX Energy Corporation, ENMAX owns and operates power generation facilities and offers electricity and natural gas products and services to residential, commercial and industrial customers across Alberta.

<span class="mw-page-title-main">Frontier Communications</span> American telecommunications company

Frontier Communications Parent, Inc. is an American telecommunications company. Known as Citizens Utilities Company until 2000, Citizens Communications Company until 2008, and Frontier Communications Corporation until 2020, as a communications provider with a fiber-optic network and cloud-based services, Frontier offers broadband internet, digital television, and computer technical support to residential and business customers in 25 states. In some areas it also offers home phone services.

The Florida Public Service Commission (FPSC) regulates investor-owned electric, natural gas, and water and wastewater utilities. The FPSC facilitates competitive markets in the telecommunications industry, has authority over intercarrier disputes, and oversees pay telephones, the federal Lifeline Assistance Program and Telecommunications Relay Service.

Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS) and Bright Canyon Energy. It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).

Essential Utilities is an American utility company that has stakes in Illinois, Indiana, New Jersey, North Carolina, Ohio, Pennsylvania, Texas and Virginia The company provides drinking water and wastewater treatment infrastructure and services. Essential Utilities is the publicly traded ($WTRG) parent company that oversees the continued business of Aqua America and Peoples Natural Gas, who both continue to do business under their original names.

<span class="mw-page-title-main">Spire Inc.</span> American utility company

Spire Inc. is a regional public utility holding company based in St. Louis, Missouri, providing natural gas service through its regulated core utility operations while engaging in non-regulated activities that provide business opportunities. Its primary subsidiary Laclede Gas Company is the largest natural gas distribution utility in Missouri, serving approximately 631,000 residential, commercial and industrial customers in the City of St. Louis and ten counties in eastern Missouri. Its corporate headquarters is located in the 700 Market building in downtown St. Louis.

<span class="mw-page-title-main">G&K Services</span>

G&K Services, Inc. was an American company based in Minnetonka, Minnesota, which provided branded identity uniforms and facility products and services for rent and purchase. G&K Services' branded clothing and facility services programs provided rental-lease or purchase options through its direct sale programs (GKDirect). On March 21, 2017, the company was acquired by Cintas for approximately $2.2 billion.

<span class="mw-page-title-main">Middlesex Water Company</span>

Middlesex Water Company is a water utility based in the U.S. state of New Jersey that was first incorporated in 1897. The company declared an annual net income of $33.8M, with a revenue of $135.5M for fiscal year 2019.

Boasso Global, formerly known as Quality Distribution, Inc. (Quality), is a Tampa, Florida-based ISO tank services provider. On August 18, 2015, Quality completed its previously announced merger agreement with funds advised by Apax Partners LLP on May 6, 2015. In 2021, Quality sold its Quality Carriers bulk liquid chemical truck transportation business to CSX Corporation and rebranded to Boasso Global. In October 2022, Apax Partners sold Boasso Global to KKR.

SJW Group ("SJW") is a water utility processing, distribution, wholesale and retail company based in San Jose, California. It serves 228,000 connections that serves over 1 million residents in regions of California, and approximately 17,000 connections, which serves about 60,000 people in Texas. The enterprise value is $3.76 billion.

American States Water Co. is an American water and electricity utility company. It was founded in 1929 and is headquartered in San Dimas, California. The company has 50-year privatization contracts with U.S. government as a government contractor for its water system service. It is the water utility provider for about 246,000 customers and the electricity provider for over 23,000 customers in Big Bear Lake and California under the name Bear Valley Electric.

California Water Service Group (CWSG) is an American public utility company providing drinking water and wastewater services. It is the third-largest investor-owned publicly-traded water utility in the United States, serving roughly two million people through its subsidiary companies in California, Hawaii, New Mexico and Washington. CWSG was formed in 1997 as a new holding company for California Water Service to expand into other states regulated by their own public utilities commissions, and into other non-regulated businesses.

<span class="mw-page-title-main">Citadel Securities</span> American market making firm

Citadel Securities LLC is an American market making firm headquartered in Miami. It is one of the largest market makers in the world, and is active in more than 50 countries. It is the largest designated market maker on the New York Stock Exchange.

References

  1. ↑ "AWK Financials". nasdaq.com. Retrieved 23 May 2022.
  2. ↑ "2022 Annual Report - American Water Works". Annual Reports.com.
  3. ↑ "SEC Form 10K - American Water Works". www.sec.gov.
  4. ↑ "NYSE". www.nyse.com. Retrieved 2022-05-20.
  5. 1 2 "125 years of history". American Water. 2011. Retrieved 2015-07-11.
  6. ↑ "About American Water". Archived from the original on 2008-08-03. Retrieved 2013-07-03.
  7. ↑ Walsh, Jim (December 4, 2018). "On the Waterfront: American Water opens Camden headquarters". Courier-Post.
  8. ↑ "American Water - Corporate data". Amwater.com.
  9. 1 2 Cross, Gilbert (1991). A dynasty of water: the story of American Water Works Company. Camden, N.J.: American Water Works Co. ISBN   0961904917.
  10. ↑ "Definitive Contract - PIID SP060019C8327". www.usaspending.gov.
  11. ↑ "Apax Buys Homeowner Services Group of American Water for $1.27B". Mergers&Acquisitions. 29 October 2021. Retrieved 29 October 2023.
  12. ↑ Wesser, James (27 May 2022). "Pa. American Water, York city make historic wastewater system deal". ABC27.
  13. ↑ "2023 Fourth Quarter & Year-End Earnings Conference Call" (PDF). s26.q4cdn.com. Retrieved 2024-04-05.
  14. ↑ PEACHMAN, RACHEL RABKIN. "America's Best Large Employers 2024". Forbes. Retrieved 2024-04-05.
  15. ↑ "2024 Rankings". JUST Capital. Retrieved 2024-04-05.
  16. ↑ "Military Friendly | Military Friendly". militaryfriendly.com. Retrieved 2024-04-05.
  17. ↑ Clem, Alex. "Best Places to Work - 2023". Disability:IN. Retrieved 2024-04-05.
  18. ↑ Cooper, Nancy (2022-12-07). "America's Most Responsible Companies 2023". Newsweek. Retrieved 2024-04-05.
  19. ↑ "Bloomberg Gender-Equality Index" (PDF). assets.bbhub.io. Retrieved 2024-04-05.
  20. ↑ Foster, Lauren (March 2, 2023). "Barron's 100 Most Sustainable U.S. Companies". Barrons .
  21. 1 2 3 "2020 Annual report - American Water Works". Annual Reports.com.
  22. ↑ "XBRL Viewer". sec.gov. pp. 4–5. Retrieved 2024-04-05.

39°56′56″N75°07′51″W / 39.948798°N 75.130792°W / 39.948798; -75.130792

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.