Company Reports

American Water and Essential Utilities filed with Pennsylvania regulators a settlement with key counterparties supporting the proposed combination.

American Water Works' earnings growth is consistently higher than most regulated electric utilities, even though core retail water use has steadily fallen as a result of efficiency savings.

American Water reported second-quarter operating earnings per share of $1.61, up from $1.49 in the same year-ago period, putting the company on track to meet our and management's full-year estimates.

American Water Works reported first-quarter operating earnings per share of $1.01, down from $1.02 in the year-ago period, putting the company on track to meet our and management's full-year estimates.

American Water Works' earnings growth is consistently higher than most regulated electric utilities, even though core retail water use has steadily fallen as a result of efficiency savings.

American Water reported full-year operating earnings per share of $5.64, up from $5.18 in 2024 and in line with our and management's estimates.

American Water Works' earnings growth is consistently higher than most regulated electric utilities even though core retail water use has steadily fallen as a result of efficiency savings.

American Water announced plans to acquire Essential Utilities in an all-stock, tax-free merger worth $63 billion including debt. The transaction is scheduled to close in the first quarter of 2027.

American Water Works' earnings growth is consistently higher than most regulated electric utilities even though core retail water use has steadily fallen as a result of efficiency savings.

American Water Works' earnings growth is consistenly higher than most regulated electric utilities even though core retail water use has steadily fallen as a result of efficiency savings.

American Water reported second-quarter earnings per share of $1.48, up from $1.42 in the same year-ago period, positioning the company to meet our full-year 2025 estimates and management's guidance.

American Water reported first-quarter earnings per share of $1.05, up from $0.95 in the same year-ago period, positioning the company to meet our full-year 2025 estimates and management's guidance.

Utilities have limited direct exposure to the tariffs announced by the Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

American Water reported 2024 earnings per share of $5.39, up from $4.77 in 2023, above our full-year expectations.

American Water Works' earnings growth is consistenly higher than most regulated electric utilities even though core retail water use has steadily fallen as a result of efficiency savings.

We are reaffirming our $137 fair value estimate for American Water Works after the company reported third-quarter operating earnings per share of $1.80 compared with $1.66 in the year-ago period.

American Water Works' earnings growth is consistenly higher than most regulated electric utilities even though core retail water use has steadily fallen as a result of efficiency savings.

We are reaffirming our $135 per share fair value estimate after American Water reported second-quarter operating earnings of $1.42 per share, compared with $1.44 in the same year-ago period. Management narrowed its 2024 EPS guidance to $5.25 to $5.30, up slightly from its previous range of $5.20 to $5.30. Our previous estimate remains unchanged, which is in line with the updated range. Higher approved customer rates will allow for increased revenue in the second half of the year, supporting full-year earnings.

We are reaffirming our $135 per share fair value estimate after American Water reported first-quarter operating earnings of $0.95 per share, compared with $0.91 in the same year-ago period.

We reaffirm our $135 fair value estimate for American Water Works after the US Environmental Protection Agency issued its final rule with limits for per- and polyfluoroalkyl substances, or PFAS, in water utility systems, including American Water's subsidiaries. We are reaffirming our narrow moat rating.