American Water Works Company, Inc - AWK STOCK NEWS

California American Water successfully activated two new pump stations on February 13, enhancing its water infrastructure and reducing reliance on the Carmel River. This $6 million investment allows water to flow from the Seaside Basin to Carmel Valley, reversing over a century-long system flow. The initiative aims to protect the Carmel River ecosystem while assuring customers that water quality remains safe following the reversal. Notifications were sent to customers to address potential temporary discoloration caused by sediment. California American Water services about 700,000 people and operates as a subsidiary of American Water (NYSE: AWK).

American Water Works Company (NYSE: AWK) reported a full-year earnings of $4.51 per share for 2022, down from $6.95 per share in 2021, which included a $2.70 gain from the sale of its Homeowner Services Group. The fourth quarter earnings were $0.81 per share compared to $3.55 per share the previous year. In 2022, the company invested a record $2.6 billion and added 70,000 customer connections through acquisitions. American Water affirmed its 2023 EPS guidance of $4.72 to $4.82 and long-term growth targets of 7-9% for EPS and dividends. The company also reported its best safety performance and set a net zero GHG emissions target by 2050.

New Jersey American Water is set to implement its first Lead Service Line Replacement Charge for all water and fire service customers starting February 13, 2023. The LSLR surcharge, approved by the NJ Board of Public Utilities, will recover $7.3 million for replacing customer-owned lead and galvanized service lines from July 1, 2020 to October 31, 2022. The surcharge is set at $0.01643 per 100 gallons, impacting residential customers by approximately $0.91 monthly based on average usage. The company aims to replace all lead service lines efficiently and affordably, emphasizing community partnerships.

American Water (NYSE: AWK), the largest publicly-traded U.S. water utility, announced its representatives will join policy panels at the NARUC Winter Policy Summit from February 12-15 in Washington, D.C. Key participants include Mark McDonough, discussing lead service line compliance; Deb Degillio, addressing customer equity and assistance policies; Bruce Aiton, highlighting hydroelectric generation from regulated water infrastructure; and Dr. Lauren Weinrich, focusing on emerging contaminants treatment. This summit fosters dialogue among regulators and industry leaders to enhance collaboration on regulatory policies.

American Water (NYSE: AWK) has been recognized as one of America’s Top Corporations for Women’s Business Enterprises (WBEs) by the Women's Business Enterprise National Council (WBENC). This award acknowledges corporations that excel in supplier diversity programs, promoting growth for women-owned businesses. Josh King, SVP of Supply Chain & Strategic Projects, praised the supplier diversity team's leadership in achieving this recognition. The honor aligns with American Water's commitment to supporting diverse suppliers, enhancing economic growth, and empowering local communities. For further details, visit American Water's website.