Wikipedia

American Water Works

(Redirected from West Virginia American Water)

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

American Water Works Company, Inc.
Company typePublic company
IndustryUtilities
Water and wastewater
Founded1886; 138 years ago (1886)
Founders
  • James S. Kuhn
  • W.S. Kuhn
Headquarters
Camden, New Jersey
,
U.S.
Key people
M. Susan Hardwick, CEO and Board Member
John C. Griffith, President
Cheryl Norton, EVP and Chief Operating Officer
David Bowler, EVP and Chief Financial Officer[1]
Stacy Mitchell, EVP and General Counsel
Melanie M. Kennedy, EVP and Chief Human Resources Officer
Nicholas Furia, VP and Treasurer
ProductsWater
RevenueIncrease US$3.93 billion (2021)[2]
Increase US$1.20 billion (2021)
Increase US$1.26 billion (2021)
Total assetsIncrease US$26.08 billion (2021)
Total equityIncrease US$7.30 billion (2021)
Number of employees
6,500[3]
DivisionsCalifornia 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
WebsiteAmerican 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.[4]

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

History

edit

The utility was founded in 1886 as the American Water Works & Guarantee Company.[6] In 1914, American Water Works and Guarantee Company became American Water Works and Electric Company.[6] In 1947 it was reorganized as American Water Works Company, Inc.[7]

Since December 2018, the company has its headquarters in Camden, New Jersey,[8] and has about 6,500 professionals who provide drinking water, wastewater and related services to over 14 million people in 24 U.S. states.[9]

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.[10]

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.[11]

In October 2021, American Water sold its homeowner services group to the global private equity firm, Apax Partners, for $1.27 billion.[12]

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.[13]

Acquisitions

edit

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.[14]

Recent significant acquisitions by State:

  • MO = 8
  • IL, NJ, WV = 3 each
  • IA, IN = 2 each

Utilities

edit

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.[10]

Awards

edit

2024

edit
  • American Water Ranks No. 1 in Utilities Industry on Forbes American's Best Large Employers 2024 List[16]
  • American Water has been included in the top 10% of America’s Most JUST Companies by JUST Capital and CNBC[17]
  • 2024 Military Friendly Employers[18]

2023

edit
  • Disability Equality Index® (DEI) - Top Scoring Company for 5th consecutive year[19]
  • Newsweek’s 2023 list of America’s Most Responsible Companies #94[20]
  • Recognized as a 2023 Member of the Bloomberg Gender Equality Index - 5th straight year[21]
  • 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.[22]

Financials

edit
Year Regulated Business Revenue
in million US$ 		Net income
in million US$ 		Price per Share
in US$ 		Employees
2020[23] 3,255 709 153.47 7,000
2021[23] 3,384 1,263 188.86 6,400
2022[23] 3,505 820 150.31 6,500
2023[24] 3,920 944 117.75 6,500

See also

edit

References

edit
  1. ^ "American Water Announces Executive Leadership Changes and Compensation Updates". tipranks.com. Retrieved 26 August 2024.
  2. ^ "AWK Financials". nasdaq.com. Retrieved 23 May 2022.
  3. ^ "2022 Annual Report - American Water Works". Annual Reports.com.
  4. ^ "SEC Form 10K - American Water Works". www.sec.gov.
  5. ^ "NYSE". www.nyse.com. Retrieved 2022-05-20.
  6. ^ a b "125 years of history". American Water. 2011. Retrieved 2015-07-11.
  7. ^ "About American Water". Archived from the original on 2008-08-03. Retrieved 2013-07-03.
  8. ^ Walsh, Jim (December 4, 2018). "On the Waterfront: American Water opens Camden headquarters". Courier-Post.
  9. ^ "American Water - Corporate data". Amwater.com.
  10. ^ a b Cross, Gilbert (1991). A dynasty of water: the story of American Water Works Company. Camden, N.J.: American Water Works Co. ISBN 0961904917.
  11. ^ "Definitive Contract - PIID SP060019C8327". www.usaspending.gov.
  12. ^ "Apax Buys Homeowner Services Group of American Water for $1.27B". Mergers&Acquisitions. 29 October 2021. Retrieved 29 October 2023.
  13. ^ "American Water Sustainability Report 2023" (PDF). American Water. Retrieved 2024-08-16.
  14. ^ Wesser, James (27 May 2022). "Pa. American Water, York city make historic wastewater system deal". ABC27.
  15. ^ "2023 Fourth Quarter & Year-End Earnings Conference Call" (PDF). s26.q4cdn.com. Retrieved 2024-04-05.
  16. ^ PEACHMAN, RACHEL RABKIN. "America's Best Large Employers 2024". Forbes. Retrieved 2024-04-05.
  17. ^ "2024 Rankings". JUST Capital. Retrieved 2024-04-05.
  18. ^ "Military Friendly | Military Friendly". militaryfriendly.com. Retrieved 2024-04-05.
  19. ^ Clem, Alex. "Best Places to Work - 2023". Disability:IN. Retrieved 2024-04-05.
  20. ^ Cooper, Nancy (2022-12-07). "America's Most Responsible Companies 2023". Newsweek. Retrieved 2024-04-05.
  21. ^ "Bloomberg Gender-Equality Index" (PDF). assets.bbhub.io. Retrieved 2024-04-05.
  22. ^ Foster, Lauren (March 2, 2023). "Barron's 100 Most Sustainable U.S. Companies". Barrons.
  23. ^ a b c "2020 Annual report - American Water Works". Annual Reports.com.
  24. ^ "XBRL Viewer". sec.gov. pp. 4–5. Retrieved 2024-04-05.
edit
  • Official website
  • Business data for American Water Works Company, Inc.:

39°56′56″N 75°07′51″W / 39.948798°N 75.130792°W / 39.948798; -75.130792

Retrieved from "https://en.wikipedia.org/w/index.php?title=American_Water_Works&oldid=1250622743"