American Water Q1 2024 Earnings Report
Key Takeaways
American Water reported first quarter 2024 earnings of $0.95 per share, compared to $0.91 per share in 2023. The company affirmed its 2024 earnings per share guidance range of $5.20 to $5.30 and its long-term financial targets, including its long-term EPS and dividend growth rate targets of 7-9%.
First quarter 2024 earnings were $0.95 per share, compared to $0.91 per share in 2023; results as expected
2024 earnings per share guidance range of $5.20 to $5.30 affirmed
2024 capital investment plan of $3.1 billion on track; March closing of Granite City, IL, acquisition of $86 million
Announced quarterly cash dividend of $0.7650 per share of common stock payable in June, an increase of 8.1%
American Water
American Water
Forward Guidance
The company affirms its 2024 earnings per share guidance range of $5.20 to $5.30, which includes approximately $0.10 per share of increased interest income resulting from the early 2024 amendment to the terms of the secured seller note receivable from the 2021 sale of the former Homeowner Services Group (“HOS”). The Company also affirms its long-term financial targets, including its long-term EPS and dividend growth rate targets of 7-9%.