American Water Works Company Earnings Call Transcripts
Fiscal Year 2026
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The meeting highlighted strong 2025 performance, progress on a major merger, and approval of all board proposals, including director elections, executive compensation, auditor ratification, and plan amendments. No shareholder questions were raised.
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Q1 2026 results met expectations, with adjusted EPS of $1.01 and full-year guidance reaffirmed. Dividend was raised 8.2%, and the Essential Utilities merger advanced with first state approval. Strong capital investments, regulatory progress, and legislative wins support continued growth.
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Shareholders approved the issuance of shares for a merger with Essential Utilities, creating a major regulated water and wastewater utility. The meeting was held virtually, with all governance and voting procedures followed, and no adjournment was necessary.
Fiscal Year 2025
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Delivered 8.9% EPS growth in 2025, affirmed 2026 guidance, and advanced a major merger with Essential Utilities. Invested $3.2 billion in infrastructure, maintained strong credit ratings, and continued focus on affordability and regulatory progress.
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A major all-stock merger will create a leading regulated utility with a $34B rate base, serving 5.4M connections across 17 states. The deal is expected to be accretive to EPS in the first year, maintain strong growth and dividend targets, and close by Q1 2027.
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Q2 and first-half 2025 EPS rose year-over-year, driven by rate increases, acquisitions, and organic growth. 2025 EPS guidance was narrowed to $5.70-$5.75, with robust capital investment and acquisition activity supporting long-term growth targets.
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Q1 2025 EPS rose 11% to $1.05, driven by rate increases and acquisitions, with 2025 EPS and dividend growth guidance reaffirmed at 7%-9%. Capital investment and acquisition pipelines remain robust, supported by strong credit ratings and recent legislative wins.
Fiscal Year 2024
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2024 results met expectations with $5.39 EPS, 8%+ growth, and $3.3B in capital investment. 2025 EPS guidance of $5.65–$5.75 affirmed, with 7%-9% long-term EPS and dividend growth targets. Strong balance sheet, robust acquisition pipeline, and ongoing regulatory and capital initiatives support future growth.
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Q3 2024 EPS rose to $1.80, with YTD EPS at $4.17 and strong revenue growth from rate cases. 2025 EPS guidance is $5.65-$5.75, supported by $17B-$18B in planned capital investment and robust acquisition activity. Debt and dividend payout ratios remain within targets.
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Q2 and first half 2024 results were solid, with EPS in line with expectations and 2024 guidance raised to $5.25-$5.30. Capital investment and customer growth remain strong, while regulatory and acquisition activity continues across multiple states. Leadership changes and a focus on affordability and sustainability were highlighted.