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Jun 30, 2024
American Water Q2 2024 Earnings Report
Delivered solid results and narrowed 2024 EPS guidance to top half of range, affirming long-term targets.
Key Takeaways
American Water reported second quarter earnings of $1.42 per share, compared to $1.44 per share in 2023. The company narrowed its 2024 earnings per share guidance range to $5.25 to $5.30 and affirmed its long-term financial targets.
Second quarter 2024 earnings were $1.42 per share, compared to $1.44 per share in 2023; year-to-date 2024 earnings were $2.37 per share, compared to $2.37 per share in 2023. Comparative results reflect a net unfavorable weather impact of an estimated $0.04 per share.
2024 earnings per share guidance range is narrowed to $5.25 to $5.30 from $5.20 to $5.30, on a weather-normalized basis, including the estimated $0.10 per share of increased interest income. Long-term targets affirmed.
2024 capital investment plan of $3.1 billion on track; approximately 43,000 customer connections added from acquisitions and organic growth through June 30.
Significant regulatory execution YTD with new rates effective in IN, WV, KY, and with new rates to go into effect in PA next week.
Revenue by Segment
Forward Guidance
The company now expects its 2024 earnings per share guidance range to be $5.25 to $5.30, narrowed from the previous EPS guidance range of $5.20 to $5.30, on a weather-normalized basis. Both ranges include approximately $0.10 per share of increased interest income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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