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Mar 31, 2023
American Water Q1 2023 Earnings Report
American Water reported strong first quarter results and affirmed 2023 guidance and long-term targets.
Key Takeaways
American Water had a strong first quarter in 2023, with earnings per share of $0.91, compared to $0.87 per share in 2022. The company invested $538 million in the first three months of the year and is on track to invest approximately $2.9 billion in 2023. They also affirmed their 2023 earnings per share guidance range of $4.72 to $4.82 and long-term targets.
First quarter 2023 earnings were $0.91 per share, compared to $0.87 per share in 2022.
2023 earnings per share guidance range of $4.72 to $4.82 was affirmed, and long-term targets were also affirmed.
Invested $538 million in the first three months of the year, with a total capital plan to invest approximately $2.9 billion in 2023.
Announced agreements to purchase the assets related to the wastewater system of Towamencin Municipal Authority in Pennsylvania for $104 million and the wastewater treatment plant from Granite City in Illinois for $83 million.
Revenue by Segment
Forward Guidance
The Company affirms its 2023 earnings per share guidance range of $4.72 to $4.82. The Company also affirms its long-term financial targets for the 2023-2027 period announced in Nov. 2022, including its long-term EPS and dividend growth rate targets of 7-9%.
Positive Outlook
- Affirms 2023 earnings per share guidance range of $4.72 to $4.82
- Affirms long-term financial targets for the 2023-2027 period announced in Nov. 2022
- Long-term EPS growth rate targets of 7-9%
- Long-term dividend growth rate targets of 7-9%
Challenges Ahead
- Earnings forecasts are subject to numerous risks and uncertainties
- Decisions of governmental and regulatory bodies
- Changes in customer demand for, and patterns of use of, water and energy
- Limitations on the availability of the Company’s water supplies or sources of water, or restrictions on its use thereof
Historical Earnings Impact
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Avg. Return Before/After Earnings
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