American Water Q1 2020 Earnings Report
Key Takeaways
American Water reported a strong first quarter in 2020, with GAAP diluted earnings per share increasing to $0.68 and adjusted diluted earnings per share increasing by 9.8% to $0.67. Growth was seen in both Regulated and Market-Based Businesses, with significant capital investments made to improve infrastructure and expand services. The company is confident in delivering its 2020 adjusted earnings guidance.
GAAP diluted earnings per share increased to $0.68 from $0.62 in the first quarter of 2019.
Adjusted diluted earnings per share increased by 9.8% to $0.67, compared to $0.61 in the previous year.
The company invested $457 million, primarily in Regulated Businesses, and added over 9,400 customers through acquisitions and organic growth.
The Board of Directors approved a 10% increase in the quarterly dividend, marking the eighth consecutive year of increases of 10% or more.
American Water
American Water
Forward Guidance
The Company expects its 2020 earnings to be in the range of $3.85 - $3.95 per share on a GAAP basis and adjusted (non-GAAP) earnings guidance range is $3.79 - $3.89 per share.