American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company (NYSE: AWK) has announced key executive promotions to enhance operational efficiency. Mike Doran becomes Deputy Chief Operating Officer, and David Bowler is appointed Deputy Chief Financial Officer. Additionally, Justin Ladner and Rebecca Losli take on leadership roles at Pennsylvania and Illinois American Water, respectively. These promotions underscore the company’s commitment to strong leadership and customer-focused service delivery.

American Water Works Company reported Q3 2022 earnings of $1.63 per share, up from $1.53 in 2021. Year-to-date earnings reached $3.70 per share compared to $3.40 last year. The company has invested $1.9 billion and added 79,300 customer connections through acquisitions and organic growth. A $231.5 million agreement to acquire the Butler Area Sewer Authority's wastewater system will increase customer connections by 14,700. 2022 earnings guidance remains at $4.39 to $4.49 per share, with 2023 guidance set at $4.72 to $4.82 per share.

American Water Works Company (NYSE: AWK) announced a quarterly cash dividend of $0.6550 per share, payable on December 1, 2022, to shareholders of record by November 8, 2022. This marks a continuation of the annualized dividend increase approved by the Board in April 2022. The company also offers a dividend reinvestment plan enabling shareholders to reinvest dividends and purchase shares without brokerage fees.

Iowa American Water, a subsidiary of American Water (NYSE: AWK), has acquired the City of Blue Grass wastewater system for $2 million, following approval from the Iowa Utilities Board on July 12, 2022. This marks Iowa American Water's first sewer system operation in Iowa, adding approximately 750 wastewater customers to its Iowa Quad Cities service area. The company plans to invest $4 million to upgrade the system and improve compliance with permit requirements. Existing sewer rates will remain unchanged for customers.

Illinois American Water is urging participation in the DEA's National Prescription Drug Take Back Day on Saturday, Oct. 29, 2022, from 10 a.m. to 2 p.m.. Customers can drop off unwanted medications at approved sites for safe incineration, discouraging harmful disposal methods like flushing. In April 2022, Illinois collected over 23,000 pounds of prescription drugs. Director Rachel Bretz emphasizes the importance of safe disposal to protect water sources. Permanent disposal programs are available for those unable to attend. For more information, visit the DEA's official site.

American Water (NYSE: AWK), the largest U.S. water and wastewater utility, has received the U.S. Department of Homeland Security's SAFETY Act Designation for its enterprise security program. This designation recognizes the company's effective anti-terrorism measures and liability protection against terrorist threats. American Water is the first water utility to earn this recognition, which is valid until October 31, 2027. CEO Susan Hardwick emphasized the designation reflects the company's commitment to safety and security for employees and customers.

American Water Works (NYSE: AWK) plans to release its Q3 2022 financial results and 2023 earnings guidance on October 31, 2022, after market close. A conference call with executives, including CEO Susan Hardwick, will occur on November 1, 2022, at 9 a.m. EDT, focusing on Q3 results and long-term targets. Interested parties can access the call via the Investor Relations website. American Water, established in 1886, is the largest publicly traded water utility in the U.S., serving approximately 14 million people across 24 states.