American Water Works Company, Inc - AWK STOCK NEWS

California American Water has received over $6 million from the State of California for COVID relief to assist customers who fell behind on payments. Administered by the State Water Resources Control Board, this program covers unpaid water service bills from March 2020 to June 15, 2021. Over 10,000 customers will benefit from this initiative, with a total of $6,358,597 in bill relief to be automatically credited to eligible accounts. The company encourages those needing further assistance with water debt to reach out for additional support.

New Jersey American Water has launched an interactive webpage and map for customers to check the material of their service lines, responding to state legislation requiring disclosure of lead and galvanized steel lines. The site includes a guide for customers to assess their service line materials and offers resources on reducing lead exposure. The company guarantees that their water meets all quality standards, with ongoing tests showing no lead issues in treated water. Customers will be notified if their service lines are lead or galvanized steel.

Missouri American Water has completed its acquisition of the Orrick water and wastewater systems, adding around 340 customers each in Orrick, Ray County. The acquisition follows strong community support, with over 85% of voters favoring this decision in April 2021. The Missouri Public Service Commission approved the deal, allowing Missouri American Water to invest $1.3 million over the next five years to enhance services and ensure regulatory compliance. This strategic move aims to address the growing demand for reliable water and wastewater services in Missouri.

American Water Works Company reported a robust financial performance for 2021, achieving earnings of $6.95 per share, up from $3.91 in 2020. The fourth quarter showed earnings of $3.55 per share, significantly higher than $0.80 per share in 2020. This includes a gain of $2.70 per share from the sale of Homeowner Services Group. The company affirmed its 2022 earnings guidance range of $4.39 to $4.49 per share and long-term EPS growth target of 7-9%, along with plans for dividend increases.

American Water Works Company (NYSE: AWK) has appointed James H. Gallegos as the Executive Vice President and General Counsel, effective April 1, 2022. Gallegos succeeds Mike Sgro, who recently retired. He brings nearly 20 years of experience in general counsel roles, with notable expertise in strategic regulation and corporate governance. Previously, he held senior positions at Alliant Energy and Burlington Northern. Gallegos's legal career started at the U.S. Department of Justice, and he is an advocate for inclusion, equity, and diversity, aligning with American Water's values.

Illinois American Water is investing over $16 million to upgrade the local water system in Jerseyville, enhancing efficiency, safety, and security. The upgrades include modernizing chemical and lime feed systems, rehabilitating four filters, and implementing security and automation improvements. Additionally, five Variable Frequency Drives will be upgraded to optimize water flow and pressure, reducing energy consumption. The company is also constructing a new $8 million operations facility to bolster operational efficiencies and customer service.

New Jersey American Water has signed a $5 million agreement to acquire the wastewater collection system of Bound Brook, N.J., adding approximately 2,900 new customers. This acquisition follows a November 2021 voter referendum where nearly two-thirds approved the sale. The company plans to invest over $11 million in system improvements over ten years, maintaining current sewer rates for two years and capping annual increases at 3% for three years thereafter. This marks the company's third wastewater acquisition in three years, expanding its customer base significantly.

Pennsylvania American Water has launched its 20th Annual “Protect Our Watersheds” Art Contest for fourth to sixth graders in its service area. The contest aims to foster environmental awareness among students, encouraging them to create artwork and write narratives on watershed protection. Twelve entries will be featured in the 2023 calendar, with winners receiving bookstore gift cards. The artwork submission deadline is Earth Day, April 22, 2022. This initiative highlights the company's commitment to environmental education while engaging young artists in meaningful community involvement.