American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company (NYSE: AWK) plans to release its Q1 2021 financial results on May 3, 2021, after market close. A conference call will be held on May 4, 2021, at 9 a.m. EDT, featuring CEO Walter Lynch and CFO Susan Hardwick, with a Q&A session for investors and analysts. Investors can access the call via the company’s Investor Relations webpage. An audio archive will be available until May 11, 2021. American Water serves 15 million customers across 46 states, focusing on safe and reliable water services.

West Virginia American Water has secured an agreement to acquire the water system of the Town of Cedar Grove, serving approximately 395 customers.

The acquisition aims to enhance water quality and reliability, allowing the town's leadership to focus on other priorities. West Virginia American Water plans to invest in infrastructure improvements and establish a connection with its existing system in Kanawha County. This move follows its recent acquisitions in neighboring towns and is subject to Public Service Commission approval.

California American Water surpassed its 2020 diverse supplier goal, achieving nearly 40% of its $42 million spending with minority, women, LGBTQ+, and disabled veteran-owned businesses. This exceeds the California Public Utilities Commission's goal of 21.5%. The company added 27 new diverse suppliers and facilitated over $5 million in spending with diverse subcontractors. They aim to continue this momentum as a leader in diverse supplier engagement, highlighting their commitment to community representation in business practices.

Missouri American Water has been officially voted as the water and wastewater service provider for the communities of Orrick and Smithton, with over 85% and 76% support, respectively. This transition will add 1,118 customers, enhancing Missouri American Water's reach to approximately 1.5 million residents. The company has committed to investing in system improvements to ensure quality and regulatory compliance. These developments reflect increasing demand for their services, as more communities face water challenges.

American Water (NYSE: AWK) has appointed Mark McDonough as Senior Vice President and President of New Jersey American Water, effective April 19, 2021. McDonough succeeds Cheryl Norton, who was named Executive Vice President and COO on March 1, 2021. Previously leading the Military Services Group, McDonough's experience includes managing water services for 17 military installations. He brings a strong utility background and commitment to customer service. New Jersey American Water serves approximately 2.8 million people, reinforcing American Water’s status as a leading utility provider.

The Missouri Public Service Commission (MoPSC) approved a rate review agreement for Missouri American Water's water and wastewater operations on April 7. The order includes $620 million in system improvements since 2017. Most residential water customers will see no change or a slight decrease in their bills, while wastewater customers will experience a small increase of $3 to $5. New rates are set to take effect by the end of May. Missouri American Water emphasizes its commitment to providing reliable services while meeting state and federal regulations.

On April 19, New Jersey American Water will resume using chloramines for water treatment at its Raritan-Millstone and Canal Road plants, which serve customers in several New Jersey counties. The change follows a temporary switch to free chlorine in January for routine maintenance. Chloramines, effective since the 1980s, meet all EPA and NJDEP standards. Customers may have noticed a slight chlorine taste during the transition, but this will subside with the resumption of chloramines. New Jersey American Water serves approximately 2.8 million people.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has signed an agreement to purchase the City of York's wastewater system assets for $235 million. This system serves over 45,000 connections. The agreement, approved by the York City Council and Sewer Authority, aims to enhance service reliability and environmental protection while alleviating York's debt burden. Pennsylvania American Water plans to maintain current wastewater rates for three years and invest in system upgrades. The transaction is expected to close by late 2021 or early 2022.

California American Water will conduct a free online firescape class on April 7, 2021, at 6:00 p.m. to help homeowners safeguard their properties against wildfires. Rich Svindland, President of California American Water, emphasized the ongoing threat of wildfires, highlighting that over two million acres burned in California in 2020. The workshop will educate attendees on landscaping practices that can protect homes and include consultation from the County of Los Angeles Fire Department. Up to 600 participants can register on a first-come, first-served basis.