NEWS

American Water Reports Strong 2019 Results

2019 diluted GAAP earnings per share at $3.43, compared to $3.15 in 2018; adjusted diluted earnings per share (EPS) at $3.61 (a non-GAAP measure), a 9.4% increase over 2018 adjusted EPS of $3.30

Affirm 2020 earnings guidance range of $3.79 to $3.89 per diluted share, and long-term EPS compound annual growth rate (CAGR) of 7 to 10% range, anchored off of 2018 adjusted EPS

CAMDEN, N.J.--(BUSINESS WIRE)--American Water Works Company, Inc. (NYSE: AWK) today reported GAAP results for the fourth quarter 2019 of $98 million, or $0.54 per diluted share, compared to $112 million, or $0.62 per diluted share, for the fourth quarter of 2018. The operations of Keystone Clearwater Solutions (Keystone) were disposed of at a pre-tax loss of $44 million, $35 million after tax, or $0.19 per diluted share. Excluding that loss, fourth quarter results were $133 million, or $0.73 per diluted share.

For the year ended Dec. 31, 2019, GAAP results were $621 million, or $3.43 per diluted share, compared to $567 million, or $3.15 per diluted share, in 2018. For the year, excluding the Keystone loss and the favorable impact of $0.01 per diluted share related to an insurance settlement reflected in the first quarter, results were $653 million, or $3.61 per diluted share.

"We continued our strong growth in 2019 through outstanding execution and performance by our employees," said Susan Story, president and CEO. "Our 2019 adjusted EPS increased 9.4% over adjusted 2018. We invested $1.7 billion in our water and wastewater systems to ensure safe, clean and reliable water and water services for our customers. And we added 67,000 new customers through closed acquisitions and organic growth, and look forward to welcoming an additional 44,200 customers through signed acquisitions following regulatory approval.

"We are also affirming our 2020 EPS guidance of $3.79 to $3.89, and remain confident in our ability to achieve 7 to 10% growth in our long-term EPS. We plan to make $8.8 billion to $9.4 billion of needed investment over the next five years, and between $20 billion to $22 billion over the next ten years," added Story.

“Additionally, we are proud to have been named to the Global 100 Index, an announcement made in Davos, Switzerland last month by Corporate Knights, Inc. as one of the world’s 100 most sustainable corporations. American Water was ranked #16 overall, joining only 16 other U.S. companies and the only U.S. utility named to the list. This is in addition to some of our major and most recent ESG recognitions including inclusion in the 2019 and 2020 Bloomberg Gender-Equality Index, Barron’s 100 Most Sustainable Companies ranking, a top-scoring (100%) Company on the Disability Equality Index (DEI), and 2020 Military Friendly Gold Employer and Military Friendly Spouse Employer designations.” Read More.