American Water Works

American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.^[5]

American Water Works Company, Inc.

Headquarters in Camden, New Jersey
Company type	Public company
Traded as	NYSE: AWK DJUA component S&P 500 component
Industry	Utilities Water and wastewater
Founded	1886; 139 years ago (1886)
Founders	James S. Kuhn W.S. Kuhn
Headquarters	Camden, New Jersey , U.S.
Key people	John C. Griffith, President and Chief Executive Officer[1] Cheryl Norton, EVP and Chief Operating Officer David Bowler, EVP and Chief Financial Officer[2] Stacy Mitchell, EVP and General Counsel Nicholas Furia, VP and Treasurer Karl F. Kurz, Board member Jeffrey Edwards, Director Kimberly J. Harris, Director Laurie P. Havanec, Director Julia L. Johnson, Director Patricia L. Kampling, Director Michael L. Marberry, Director Stuart M. McGuigan, Director[3] Lori Sutton, CHRO
Products	Water
Revenue	US$4.68 billion (2024)[4]
Operating income	US$1.72 billion (2024)[4]
Net income	US$1.05 billion (2024)[4]
Total assets	US$32.83 billion (2024)[4]
Total equity	US$10.33 billion (2024)[4]
Number of employees	6,700[4]
Divisions	California American Water Hawaii American Water Illinois American Water Indiana American Water Iowa American Water Kentucky American Water Maryland American Water Missouri American Water New Jersey American Water Pennsylvania American Water Tennessee American Water Virginia American Water West Virginia American Water American Water Military Services Group
Website	American Water Corporate

The Iowa American Water Company plant in Davenport, Iowa, on the banks of the Mississippi River

Its regulated operations provide water and wastewater services to approximately 1,700 communities in 14 states, serving a population of approximately 14 million. The company has 3.4 million customers which includes residential, commercial, fire service and private fire, industrial, government facilities, and other water and wastewater utilities.^[6]

The shares are traded on the NYSE under the ticker AWK.^[5][7]

History

The utility was founded in 1886 as the American Water Works & Guarantee Company.^[8] In 1914, American Water Works and Guarantee Company became American Water Works and Electric Company.^[8] In 1947 it was reorganized as American Water Works Company, Inc.^[9]

Since December 2018, the company has its headquarters in Camden, New Jersey,^[10][11] and has about 6,500 professionals who provide drinking water, wastewater and related services to over 14 million people in 24 U.S. states.^[12]

Most of American Water's services are locally managed utility subsidiaries that are regulated by the U.S. state in which each operates. American Water also owns subsidiaries that manage municipal drinking water and wastewater systems under contract and others that supply businesses and residential communities with water management products and services.^[13]

In 2003, American Water established the American Water Military Services Group, which partners with the Department of Defense through the Utilities Privatization (UP) Program. Through this program, the company has a 50-year contract to provides water and wastewater utility services at 18 military installations in the U.S.^[14]

In October 2021, American Water sold its homeowner services group to the global private equity firm, Apax Partners, for $1.27 billion.^[15]

In 2023, American Water published its eighth Sustainability Report, showcasing the company's leadership and achievements in environmental, social, and governance (ESG) principles. By the second quarter of 2024, their capital investment plan reached $3.1 billion, with approximately 43,000 customer connections added through acquisitions and organic growth as of June 30.^[16]

In 2024, American Water reported earnings of $5.39 per share, up from $4.90 per share in 2023, and recorded a dividend growth of 8.1% for the year. It allocated $3.3 billion in capital towards addressing aging infrastructure, improving water quality, enhancing resiliency, and completing strategic acquisitions, which led to nearly 90,000 additional customer connections, 69,500 of which were through acquisitions. The company has maintained its long-term EPS and dividend growth targets of 7-9%. Additionally, CEO M. Susan Hardwick will retire on May 14, 2025, and John Griffith, President of American Water, will succeed her.^[17][18]

In the first quarter of 2025, earnings were reported at $1.05 per share, up from $0.95 per share during the same period in 2024. The company maintained its earnings per share guidance for the year, projecting a range of $5.65 to $5.75. A quarterly cash dividend of $0.8275 per share was declared, scheduled for payment in June, reflecting an 8.2% increase from the previous dividend. In February, the company also issued $800 million in 5.250% senior notes set to mature in 2035.^[19][20] Revenue for the quarter ended March 2025 was $1.14 billion, compared to $1.01 billion a year earlier.^[21]

In the second quarter of 2025, American Water reported net income of $289 million, or $1.48 per share, compared with $277 million, or $1.42 per share, in the same period of 2024. Revenue increased to $1.28 billion from $1.15 billion, with the change attributed to its regulated businesses division. The company narrowed its 2025 earnings per share guidance to a range of $5.70 to $5.75, reaffirmed its long-term target of 7 to 9 percent annual growth in earnings and dividends, and declared a quarterly dividend of $0.83 per share.^[22][23]

In July 2025, American Water announced an agreement to acquire Nexus Water Group, which operates in eight states and has about 87,000 customer connections under agreement.^[22] That same month, the company participated in the National Association of Regulatory Utility Commissioners (NARUC) Summer Policy Summit.^[24]

Acquisitions

In May 2022, Pennsylvania American Water, a division of American Water, acquired the wastewater system assets for the City of York for $235.3 million.^[25]

Recent significant acquisitions by State:

• MO = 8

• IL, NJ, WV = 3 each

• IA, IN = 2 each

• PA, VA = 1 each^[26]

In October 2024, American Water completed five acquisitions across Illinois, New Jersey, and Virginia, adding approximately 33,400 customer connections. Additionally, the company has agreements in place for 22 acquisitions in eight states—California, Indiana, Illinois, Maryland, Missouri, New Jersey, Pennsylvania, and West Virginia—which are expected to add about 43,400 customer connections upon completion.^[27]

Utilities

The company owns 80 surface water treatment plants, 480 groundwater treatment plants, 175 wastewater treatment plants, 53,500 miles of pipes, 1,100 groundwater wells, 1,700 water and wastewater pumping stations, 1,100 treated water storage facilities, and 73 dams. The company serves 14 million people with regulated operations in 14 states and on 18 military installations. Services provided by American Water's utilities are subject to regulation by multiple state utility commissions or other entities engaged in utility regulation. Federal, state and local governments also regulate environmental, health and safety, and water quality and water accountability matters.^[13]

Awards

2024

• American Water Ranks No. 1 in Utilities Industry on Forbes American's Best Large Employers 2024 List^[28]

• American Water has been included in the top 10% of America’s Most JUST Companies by JUST Capital and CNBC^[29]

• 2024 Military Friendly Employers^[30]

2023

• Disability Equality Index® (DEI) - Top Scoring Company for 5th consecutive year^[31]

• Newsweek’s 2023 list of America’s Most Responsible Companies #94^[32]

• Recognized as a 2023 Member of the Bloomberg Gender Equality Index - 5th straight year^[33]
• American Water received the 2023 WaterSense Excellence Award from the U.S. Environmental Protection Agency in October and ranked 18 on the Barron’s 100 Most Sustainable U.S. Companies 2023 list.^[34]

Financials

Year	Regulated Business Revenue in million US$	Net income in million US$	Price per Share in US$	Employees
2020[35]	3,255	709	153.47	7,000
2021[35]	3,384	1,263	188.86	6,400
2022[35]	3,505	820	150.31	6,500
2023[36]	3,920	944	117.75	6,500

See also

• Public services