American Water Works (AWK) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.59

$1.50$1.68

vs $1.48+7.4%

5 analysts

Next Qtr

$2.07

$1.97$2.17

vs $1.94+6.6%

5 analysts

Current Yr

$6.08

$6.06$6.12

vs $5.64+7.8%

10 analysts

Next Yr

$6.56

$6.48$6.64

vs $6.08+7.8%

10 analysts

Revenue Estimates

Current Qtr

$1.36B

$1.25B$1.43B

vs $1.28B+6.3%

3 analysts

Next Qtr

$1.55B

$1.45B$1.65B

vs $1.45B+6.7%

3 analysts

Current Yr

$5.41B

$5.18B$5.79B

vs $5.14B+5.3%

8 analysts

Next Yr

$5.75B

$5.47B$6.27B

vs $5.41B+6.2%

9 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for AWK on EDGAR.

AWK filing events and research context
Filed	Item	Context
Apr 29, 2026	mda_quarterly	American Water reported Q1 2026 operating revenues of $1.207 billion, up from $1.142 billion in 2025, though GAAP diluted EPS declined to $1.00 from $1.05. Revenue growth from new rate implementations and acquisitions was offset by higher operating, depreciation, and financing costs. The company plans $3.7 billion in 2026 capital investments, having spent $652 million in Q1. Strategic growth is centered on a pending stock-for-stock merger with Essential, expected to close by Q1 2027, and a $315 million cash acquisition of Nexus Regulated Utilities. Regulatory momentum continues with new rate authorizations in West Virginia, Maryland, and California, and significant pending filings in New Jersey, Pennsylvania, and Illinois. Legal developments include $185 million in PFAS settlement payments received from 3M, DuPont, and Tyco. Liquidity stands at $1.436 billion, bolstered by a $700 million senior note issuance and forward sale agreements for common stock estimated to yield $1.131 billion. The company maintains a debt-to-capitalization ratio of 0.59, remaining compliant with its 0.70 covenant. Additionally, IRS Notice 2026-7 has mitigated expected Corporate Alternative Minimum Tax (CAMT) liabilities, leading to the reversal of a $200 million CAMT credit carryforward.
Feb 18, 2026	business	American Water is the largest publicly traded water and wastewater utility in the United States, with 92% of its 2025 revenue derived from regulated businesses operating across 14 states. Major markets include Pennsylvania and New Jersey, serving a diverse customer base that is primarily residential. The company’s growth strategy focuses on acquiring systems in proximity to existing operations and expanding its wastewater service footprint. To address aging infrastructure and resiliency, management plans to invest $46 billion to $48 billion over the next decade. Significant capital requirements are driven by evolving environmental regulations, specifically the EPA’s Lead and Copper Rule Improvements (LCRI), estimated to require $1.5 billion through 2030, and the National Primary Drinking Water Regulation (NPDWR) for PFAS, which carries an estimated $2 billion capital cost. Beyond regulated utilities, the company operates a Military Services Group with a $7.4 billion revenue backlog. Key risks include climate-induced water supply volatility and the regulatory complexities of state-level rate-making. While the company utilizes revenue stability mechanisms in jurisdictions like California and Illinois to mitigate weather-related demand fluctuations, it remains subject to the oversight of various public utility commissions regarding rate recovery and capital investment.
Feb 18, 2026	mda	American Water’s 2025 adjusted diluted earnings per share rose to $5.64, up from $5.18 in 2024, driven primarily by rate implementations following capital and acquisition investments. The company is executing a capital-intensive growth strategy, investing $3.2 billion in regulated infrastructure in 2025 and projecting total capital expenditures of $19 billion to $20 billion over the next five years. Expansion is supported by strategic acquisitions, including the pending stock-for-stock merger with Essential and a $315 million agreement to acquire Nexus Regulated Utilities assets. Significant regulatory and environmental mandates present substantial long-term capital requirements: compliance with EPA PFAS regulations is estimated to require $2 billion in capital expenditures and $50 million in annual operating expenses, while the Lead and Copper Rule Improvements (LCRI) will necessitate approximately $1.5 billion in investment through 2030. Revenue growth continues through successful general rate cases in jurisdictions such as Illinois, Missouri, and Kentucky. To fund these large-scale investments, the company relies on a mix of long-term debt, equity, and its $2.75 billion revolving credit facility, while managing interest rate volatility through treasury lock agreements.

Filed

Item

Context

Apr 29, 2026

mda_quarterly

American Water reported Q1 2026 operating revenues of $1.207 billion, up from $1.142 billion in 2025, though GAAP diluted EPS declined to $1.00 from $1.05. Revenue growth from new rate implementations and acquisitions was offset by higher operating, depreciation, and financing costs. The company plans $3.7 billion in 2026 capital investments, having spent $652 million in Q1. Strategic growth is centered on a pending stock-for-stock merger with Essential, expected to close by Q1 2027, and a $315 million cash acquisition of Nexus Regulated Utilities. Regulatory momentum continues with new rate authorizations in West Virginia, Maryland, and California, and significant pending filings in New Jersey, Pennsylvania, and Illinois. Legal developments include $185 million in PFAS settlement payments received from 3M, DuPont, and Tyco. Liquidity stands at $1.436 billion, bolstered by a $700 million senior note issuance and forward sale agreements for common stock estimated to yield $1.131 billion. The company maintains a debt-to-capitalization ratio of 0.59, remaining compliant with its 0.70 covenant. Additionally, IRS Notice 2026-7 has mitigated expected Corporate Alternative Minimum Tax (CAMT) liabilities, leading to the reversal of a $200 million CAMT credit carryforward.

Feb 18, 2026

business

American Water is the largest publicly traded water and wastewater utility in the United States, with 92% of its 2025 revenue derived from regulated businesses operating across 14 states. Major markets include Pennsylvania and New Jersey, serving a diverse customer base that is primarily residential. The company’s growth strategy focuses on acquiring systems in proximity to existing operations and expanding its wastewater service footprint. To address aging infrastructure and resiliency, management plans to invest $46 billion to $48 billion over the next decade. Significant capital requirements are driven by evolving environmental regulations, specifically the EPA’s Lead and Copper Rule Improvements (LCRI), estimated to require $1.5 billion through 2030, and the National Primary Drinking Water Regulation (NPDWR) for PFAS, which carries an estimated $2 billion capital cost. Beyond regulated utilities, the company operates a Military Services Group with a $7.4 billion revenue backlog. Key risks include climate-induced water supply volatility and the regulatory complexities of state-level rate-making. While the company utilizes revenue stability mechanisms in jurisdictions like California and Illinois to mitigate weather-related demand fluctuations, it remains subject to the oversight of various public utility commissions regarding rate recovery and capital investment.

Feb 18, 2026

mda

American Water’s 2025 adjusted diluted earnings per share rose to $5.64, up from $5.18 in 2024, driven primarily by rate implementations following capital and acquisition investments. The company is executing a capital-intensive growth strategy, investing $3.2 billion in regulated infrastructure in 2025 and projecting total capital expenditures of $19 billion to $20 billion over the next five years. Expansion is supported by strategic acquisitions, including the pending stock-for-stock merger with Essential and a $315 million agreement to acquire Nexus Regulated Utilities assets. Significant regulatory and environmental mandates present substantial long-term capital requirements: compliance with EPA PFAS regulations is estimated to require $2 billion in capital expenditures and $50 million in annual operating expenses, while the Lead and Copper Rule Improvements (LCRI) will necessitate approximately $1.5 billion in investment through 2030. Revenue growth continues through successful general rate cases in jurisdictions such as Illinois, Missouri, and Kentucky. To fund these large-scale investments, the company relies on a mix of long-term debt, equity, and its $2.75 billion revolving credit facility, while managing interest rate volatility through treasury lock agreements.

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AWK filing events and research context

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