American Water Works

Last updated
American Water Works Company, Inc.
Company type Public company
Industry Utilities
Water and wastewater
Founded1886;139 years ago (1886)
Founders
  • James S. Kuhn
  • W.S. Kuhn
Headquarters
Camden, New Jersey
,
U.S.
Key people
John C. Griffith, President and Chief Executive Officer [1]
Cheryl Norton, EVP and Chief Operating Officer
David Bowler, EVP and Chief Financial Officer [2]
Stacy Mitchell, EVP and General Counsel
Nicholas Furia, VP and Treasurer
Karl F. Kurz, Board member
Jeffrey Edwards, Director
Kimberly J. Harris, Director
Laurie P. Havanec, Director
Julia L. Johnson, Director
Patricia L. Kampling, Director
Michael L. Marberry, Director
Stuart M. McGuigan, Director [3]
Lori Sutton, CHRO
Products Water
RevenueIncrease2.svg US$4.68 billion(2024) [4]
Increase2.svg US$1.72 billion (2024) [4]
Increase2.svg US$1.05 billion (2024) [4]
Total assets Increase2.svg US$32.83 billion (2024) [4]
Total equity Increase2.svg US$10.33 billion (2024) [4]
Number of employees
6,700 [4]
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. [5]

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. [6]

The shares are traded on the NYSE under the ticker AWK. [5] [7]

History

The utility was founded in 1886 as the American Water Works & Guarantee Company. [8] In 1914, American Water Works and Guarantee Company became American Water Works and Electric Company. [8] In 1947 it was reorganized as American Water Works Company, Inc. [9]

Since December 2018, the company has its headquarters in Camden, New Jersey, [10] [11] and has about 6,700 professionals who provide drinking water, wastewater and related services to over 14 million people in 18 U.S. states. [12]

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. [13]

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. [14]

In 2023, American Water published its eighth Sustainability Report, showcasing the company's leadership and achievements in environmental, social, and governance (ESG) principles. By the second quarter of 2024, their capital investment plan reached at $3.1 billion, with approximately 43,000 customer connections added through acquisitions and organic growth as of June 30. [15]

In 2024, American Water reported earnings of $5.39 per share, up from $4.90 per share in 2023, and recorded a dividend growth of 8.1% for the year. It allocated $3.3 billion in capital towards addressing aging infrastructure, improving water quality, enhancing resiliency, and completing strategic acquisitions, which led to nearly 90,000 additional customer connections, 69,500 of which were through acquisitions. The company has maintained its long-term EPS and dividend growth targets of 7-9%. Additionally, CEO M. Susan Hardwick retired on May 14, 2025, and John Griffith, President of American Water, has succeed her. [16] [17]

In the first quarter of 2025, earnings were reported at $1.05 per share, up from $0.95 per share during the same period in 2024. The company maintained its earnings per share guidance for the year, projecting a range of $5.65 to $5.75. A quarterly cash dividend of $0.8275 per share was declared, scheduled for payment in June, reflecting an 8.2% increase from the previous dividend. In February, the company also issued $800 million in 5.250% senior notes set to mature in 2035. [18] [19] Revenue for the quarter ended March 2025 was $1.14 billion, compared to $1.01 billion a year earlier. [20]

In the second quarter of 2025, American Water reported net income of $289 million, or $1.48 per share, compared with $277 million, or $1.42 per share, in the same period of 2024. Revenue increased to $1.28 billion from $1.15 billion, with the change attributed to its regulated businesses division. The company narrowed its 2025 earnings per share guidance to a range of $5.70 to $5.75, reaffirmed its long-term target of 7 to 9 percent annual growth in earnings and dividends, and declared a quarterly dividend of $0.83 per share. [21] [22]

In July 2025, the company participated in the National Association of Regulatory Utility Commissioners (NARUC) Summer Policy Summit. [23]

Acquisitions

American Water Works

California American Water

Illinois American Water

Indiana American Water

Iowa American Water

Maryland American Water

Missouri American Water

New Jersey American Water

Pennsylvania American Water

Virginia American Water

West Virginia American Water

Recent significant acquisitions by State:

In October 2024, American Water completed five acquisitions across Illinois, New Jersey, and Virginia, adding approximately 33,400 customer connections. Additionally, the company has agreements in place for 22 acquisitions in eight states—California, Indiana, Illinois, Maryland, Missouri, New Jersey, Pennsylvania, and West Virginia—which are expected to add about 43,400 customer connections upon completion. [74]

Utilities

The company owns 80 surface water treatment plants, 520 groundwater treatment plants, 190 wastewater treatment plants, 54,500 miles of pipes, 1,200 groundwater wells, 1,800 water and wastewater pumping stations, 1,100 treated water storage facilities, and 75 dams. [75] 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. [13]

Awards

2024

2023

Financials

YearRegulated Business Revenue
in million US$
Net income
in million US$
Price per Share
in US$
Employees
2020 [83] 3,255709153.477,000
2021 [83] 3,3841,263188.866,400
2022 [83] 3,505820150.316,500
2023 [84] 3,920944117.756,500

See also

References

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