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Sep 30, 2024
American Water Q3 2024 Earnings Report
Reported strong third quarter results, affirmed long-term targets and 2024 EPS guidance, and announced 2025 EPS guidance, reflecting growth of 8%.
Key Takeaways
American Water reported a strong third quarter with earnings of $1.80 per share, compared to $1.66 per share in 2023. The company also affirmed its long-term targets and 2024 EPS guidance and announced 2025 EPS guidance, reflecting growth of 8%.
Third quarter 2024 earnings were $1.80 per share, compared to $1.66 per share in 2023.
2024 weather-normalized earnings per share guidance range of $5.25 to $5.30 affirmed; includes $0.10 per share of incremental interest income from the Homeowner Services Group (HOS) seller note that was amended in early 2024.
Completed the acquisition of the wastewater collection and treatment system assets of Butler Area Sewer Authority in Pennsylvania for $230 million, which adds approximately 15,000 customer connections.
Initiating 2025 earnings per share guidance range of $5.65 to $5.75, which includes $0.10 per share of incremental interest income from the amended HOS note.
Revenue by Segment
Forward Guidance
The company affirms weather-normalized 2024 earnings per share guidance range of $5.25 to $5.30, which it narrowed last quarter to the top half of the previous EPS guidance range of $5.20 to $5.30. 2025 earnings per share guidance range of $5.65 to $5.75 established; includes the $0.10 per share of incremental interest income from the amended HOS note
Positive Outlook
- 2024 weather-normalized earnings per share guidance range of $5.25 to $5.30 affirmed.
- Long-term EPS CAGR of 7-9% remains unchanged
- Long-term rate base growth of 8-9% (including acquisitions) remains unchanged
- Acquired customer additions at a CAGR of 2% remains unchanged
- Long-term dividend per share CAGR expectation of 7-9% remains unchanged
Historical Earnings Impact
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Avg. Return Before/After Earnings
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