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Sep 30, 2022
American Water Q3 2022 Earnings Report
Reported third quarter earnings, affirmed 2022 guidance, and announced 2023 EPS guidance, long-term targets, and capital investment plans.
Key Takeaways
American Water reported third quarter 2022 earnings of $1.63 per share, compared to $1.53 per share in 2021. The company also announced 2023 earnings per share guidance and long-term targets.
Third quarter 2022 earnings of $1.63 per share, compared to $1.53 per share in 2021.
Quarter results as compared to the prior year reflect an estimated favorable impact due to weather of $0.07 per share.
Invested $1.9 billion year-to-date and added 79,300 customer connections year-to-date through closed acquisitions and organic growth; total capital plan on track to invest approximately $2.5 billion in 2022.
2022 earnings guidance range of $4.39 to $4.49 per share affirmed, on a weather normalized basis.
Forward Guidance
The Company affirms its 2022 earnings per share guidance range of $4.39 to $4.49 on a weather normalized basis and initiating 2023 earnings guidance range of $4.72 to $4.82 per share and affirming long-term EPS growth of 7-9%.
Positive Outlook
- 2023 earnings guidance range of $4.72 to $4.82 per share
- Long-term EPS compound annual growth rate (“CAGR”) of 7-9% unchanged
- Long-term dividend growth expectation of 7-9%, narrowed to align with long-term EPS CAGR
- 2023-2027 capital investment plan increased to $14-$15 billion
- 2023-2032 capital investment plan increased to $30-$34 billion
Challenges Ahead
- The Company’s earnings forecasts and targets are subject to numerous risks and uncertainties
- Decisions of governmental and regulatory bodies
- Changes in customer demand for, and patterns of use of, water
Historical Earnings Impact
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Avg. Return Before/After Earnings
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