American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company (NYSE: AWK) plans to release its 2022 fourth quarter and year-end financial results post-market on February 15, 2023. Following the results, a conference call with executives will be held on February 16, 2023, at 9 a.m. EST. This call will cover the financial results and offer a 2023 outlook, with a Q&A session included. Interested participants can access the audio webcast via the company's Investor Relations website, where presentation slides will also be available. American Water serves approximately 14 million people in 24 states, focusing on providing safe and reliable water services.

American Water (NYSE: AWK) has announced a new agreement with the New Jersey Innovation Institute to enhance their Unmanned Aerial System (UAS) Program. This partnership will facilitate research that allows drone operations beyond visual line of sight, up to 1,500 feet in altitude. The initiative aims to improve environmental monitoring of water sources and infrastructure. Utilizing advanced aerial technology, American Water can inspect facilities safely from a distance while capturing high-resolution maps. This collaboration reflects the company's commitment to integrating UAS technology into national airspace, especially after natural disasters.

American Water (NYSE: AWK) participated in a White House and EPA event aimed at reducing lead exposure. The Biden Administration targets the replacement of all lead pipes within the next decade. Susan Hardwick, President and CEO, noted the removal of approximately 40,000 lead service lines in recent years, reflecting their commitment to water quality and public health. American Water collaborates with various stakeholders to finance infrastructure replacement programs. The Administration released guiding principles to further assist lead reduction efforts, emphasizing the need for clean drinking water.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has signed an agreement to acquire the wastewater system assets of the Elizabeth Borough Municipal Authority for $28 million. This system serves around 2,200 customers in several communities, enhancing Pennsylvania American Water's service footprint. Following a competitive bidding process, the transaction is projected to close by late 2023 or early 2024, pending regulatory approvals. Pennsylvania American Water plans to invest approximately $20.4 million by 2028 to upgrade the system to meet regulatory standards and improve service.

American Water (NYSE: AWK) announced its Unmanned Aerial System (UAS) Program has received FAA authorization for beyond visual line of sight (BVLOS) operations at altitudes of up to 1,500 feet. This certification allows American Water to enhance environmental monitoring and inspection capabilities, capturing high-resolution aerial mapping from three miles away. The UAS technology enables safe inspections of facilities remotely. The company collaborates with various government entities to facilitate UAS missions, especially post-natural disasters, marking a significant step in integrating drones into national airspace.

Pennsylvania American Water has opened applications for its 2023 Environmental Grant Program, aimed at funding community-based projects that enhance water resources. Projects must be innovative, sustainable, and within their service area, completed between May and November 2023. Submissions are due by March 31, 2023, with recipients announced in late April. The program has awarded over $650,000 since its inception in 2005, funding 135 projects across the state. In 2022, nearly $75,000 was distributed to 13 organizations, supporting diverse initiatives such as planting nurseries for environmental restoration.

California American Water has enacted disaster protections for communities affected by recent storms and evacuations in Monterey County. These measures aim to assist customers facing displacement and property damage. Key initiatives include payment arrangements for up to one year, suspension of disconnections due to non-payment, waiving late payment fees, and offering bill adjustments for increased water usage caused by flood damage. Customers can reach California American Water for assistance at 888 237-1333 during business hours. The company's ongoing commitment is to provide reliable water services to more than 725,000 residents.

California American Water has partnered with Wayfinder Family Services to install seven water bottle fill stations at Wayfinder's campus in Los Angeles. This initiative aims to replace aging water fountains and promote drinking from local water sources. With over 150 daily users, these stations will help reduce single-use plastics while providing safe, filtered water. The project aligns with California American Water's conservation efforts, significantly increasing water consumption among students. The filling stations are positioned in high-traffic areas to encourage the use of refillable bottles, contributing to both health and environmental sustainability.