American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company (NYSE: AWK) has completed the sale of its Michigan utility operations to Ullico's Triton Utilities for $6 million. This move aligns with AWK's strategy to focus on regions where it can deliver superior service and efficiency. The Michigan operations served approximately 12,000 residents across five townships, significantly enhancing Ullico’s capability to serve customers. The decision reflects AWK's ongoing efforts to streamline its operations and improve financial performance.

American Water (NYSE: AWK) announced the retirement of its president and CEO, Walter Lynch, effective February 2, 2022. Susan Hardwick, previously the Interim CEO and Chief Financial Officer, has been appointed as the new president and CEO. The Board expressed full confidence in Hardwick, citing her extensive utility experience and commitment to stakeholders. Hardwick joined American Water in June 2019, serving as CFO since July 2019, directing financial management and strategy. A search for a new CFO is currently underway.

Missouri American Water is investing $2.1 million to replace over 9,300 feet of aging water mains in Jefferson City, enhancing the city's water system. The planned upgrades will replace 6-inch cast iron mains from the 1950s-1960s with new 8-inch PVC mains across four projects. Construction is set from January through May 2022, with potential temporary disruptions in water service. The initiative aims to improve reliability and safety in water service for approximately 1.5 million customers in Missouri.

Illinois American Water has opened its application window for the 2022 Environmental Grant Program, aimed at funding community projects that protect Illinois watersheds. The grants, totaling over $29,000 last year, support diverse initiatives like watershed cleanups and reforestation. Organizations must address a local environmental need, partner with at least one other group, and ensure project sustainability. Applications are due by March 31, 2022, with projects to be completed between May 1 and November 30, 2022. More information and application forms are available on their website.

American Water announced its 2022 Environmental Grant Program, accepting applications for community projects in 12 states. The program, launched in 2005, focuses on funding innovative environmental initiatives that protect water resources. In 2021, the company funded 49 projects with approximately $188,000 in grants. Applications are due by March 31, 2022. The initiative reflects the company's commitment to providing reliable water services while minimizing environmental impacts.

Missouri American Water is investing $2.4 million to replace over 9,200 feet of aging water mains in Mexico, Missouri, starting January 2022. This initiative aims to enhance service reliability and deliver clean drinking water. The project includes replacing old cast iron mains with new PVC pipes across multiple streets, with completion expected in mid-2022. Additionally, the upgrades will improve fire flow for local firefighters. Customers may experience temporary service interruptions during construction, which will follow all compliance directives.

Pennsylvania American Water has launched its 2022 Environmental Grant Program, accepting applications for community-based projects aimed at improving local watersheds and water supplies. This initiative has been ongoing for 15 years, having donated over $565,000 to more than 100 projects. Eligible projects must be innovative, evidence sustainability, and be completed within the grant year. Applications are due by March 31, 2022, with recipients announced in late April. Last year, 12 organizations received $40,000 in grant funds.

American Water Works Company (NYSE: AWK) is set to release its 2021 fourth quarter and year-end financial results on February 16, 2022, after market close. A conference call for investors will occur on February 17, 2022, at 9 a.m. EST, including a Q&A session. The call will be accessible via the company's investor relations website, where presentation slides will also be available in advance. An audio archive of the call will be accessible until February 24, 2022, with toll-free dial-in options for both U.S. and international callers.

California American Water has submitted a request for $6.8 million in financial assistance to the State Water Resources Control Board to help customers who struggled to pay water bills during the coronavirus pandemic. This aid will aim to forgive overdue balances from March 2020 to June 2021. If approved, customers will receive credits within 60 days of funding, expected by February 2022. Furthermore, the company offers interest-free payment plans for pre-pandemic balances and enrollment into its Assistance Program for additional discounts.