American Water Works Company, Inc - AWK STOCK NEWS

Iowa American Water announced significant leadership changes this week. Randy Moore will transition from President of Iowa American Water to Vice President, Strategic Programs at American Water. Brad Nielsen, formerly Vice President of Operations at Iowa American Water, will assume the role of President. Nielsen, who joined Iowa American Water in 2019, has extensive experience in operations, having previously worked at Aramark Uniform Service for 17 years. Additionally, Laura Martin will become Iowa American Water’s new Vice President of Operations. Martin has been with American Water since 2010, most recently serving as Senior Director of Government and External Affairs at Pennsylvania American Water. These changes aim to leverage the extensive experience of the team to enhance water service operations in Iowa.

American Water Works Company (NYSE: AWK) has announced the release of its 2024 second quarter financial results, scheduled for after the market closes on July 31, 2024. A conference call and webcast will be hosted on August 1, 2024, at 9 a.m. EDT by key executives: Susan Hardwick (CEO), Cheryl Norton (COO), and John Griffith (CFO). The call will include a Q&A session and can be accessed via the Investor Relations section of the company's website. Presentation slides will be available online beforehand, and an audio replay will be accessible for one year.

Missouri American Water has filed a rate request with the Missouri Public Service Commission (MoPSC) to address $1.5 billion in water and wastewater system investments from January 2023 to May 2026. These investments aim to replace aging infrastructure, enhance water quality, and comply with environmental regulations. Key projects include replacing over 250 miles of pipes, upgrading treatment plants, and constructing new facilities in various counties. If approved, the average residential water bill could increase by $18 per month. The company's proposed rates also offer discounted options for customers facing financial hardship. The MoPSC's review process may take up to 11 months, with any new rates likely effective by mid-2025.

Principal Real Estate Income Fund (NYSE: PGZ) has announced its latest distribution sources. The distribution comprises net investment income, realized capital gains, and return of capital. The detailed breakdown indicates that a portion of the distribution is derived from each of these sources, reflecting the fund's diversified strategy. The exact percentages and financial figures are accessible through the company's official statement. Shareholders are encouraged to review the complete release for a comprehensive understanding of the distribution's composition and potential implications for their investments.

New Jersey American Water has completed the acquisition of Salem City’s water and wastewater systems for $18 million. This acquisition adds over 2,300 new water and wastewater customers, and integrates six Salem City utility employees into the company. The acquisition follows a voter referendum in November 2023, where over 60% of voters approved the sale. As part of the agreement, New Jersey American Water will invest over $50 million in infrastructure improvements over the next decade, addressing aging systems and implementing PFNA treatment. The sale also eliminates $11 million in utility debt for Salem City and contributes over $1 million annually to the city budget.

Residents will receive detailed information through mail and a dedicated webpage. The company will host a community open house on July 13. This acquisition marks New Jersey American Water’s sixth acquisition in six years, following the recent acquisition of Egg Harbor City’s systems in 2023.

Pennsylvania American Water has applied to the Pennsylvania Public Utility Commission (PUC) for approval to acquire the East Dunkard Water Authority (EDWA). The application follows a court directive and the company's recent operational takeover of EDWA. Pennsylvania American Water agreed to purchase EDWA's water system assets for $5 million in July 2023. Under court-ordered receivership, they began managing EDWA's operations on February 8, 2024, implementing substantial improvements to the water treatment plant and distribution system. These enhancements include upgrading four filter systems, optimizing plant operations, and repairing 31 leaks, saving 4 million gallons of treated water. The upgrades have significantly improved the reliability and quality of drinking water for EDWA customers.

American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., will participate in the 2024 Mid-America Conference of Regulatory Utilities Commissioners (MACRUC) from June 23-26 in Louisville, Kentucky. Mark McDonough, President of New Jersey American Water, will be part of a lunch and learn session titled 'Hot Topics and Debates: Water Utilities and Alphabet Soup?' where he and other experts will discuss the recent PFAS Final Rule. MACRUC aims to enhance public utility regulation and the interests of its member states in regulatory, legislative, and policy areas.

American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., confirmed its participation in the 2024 United States Conference of Mayors Annual Meeting from June 20-23 in Kansas City, Mo. Rebecca Losli, President of Illinois American Water, will join the Public-Private Partnerships forum and present a case study on wastewater collection service in Granite City, Illinois. The event gathers mayors, industry executives, policy experts, consumer advocates, and regulators to discuss current and emerging issues in the industry. For more information, visit the Conference of Mayors' official website.

American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the US, will participate in the 2024 American Water Works Association (AWWA) Annual Conference and Expo (ACE24) from June 10-13 in Anaheim, California.

Chelsea Kulp, Senior Manager of Government and External Affairs, will present on communication tactics essential for lead service line replacement programs. Rob Burton, President of West Virginia American Water; Megan Hannah, Senior Manager of Government and External Affairs, West Virginia American Water; and Erica Pauken, Manager of Compliance, will discuss their response to the East Palestine, Ohio train derailment, focusing on source water protection and emergency response.

ACE24 brings together industry leaders to discuss critical issues affecting the future of water.