American Water Works Company, Inc.

Company type	Public company
Traded as	NYSE: AWK DJUA component S&P 500 component
Industry	Utilities Water and wastewater
Founded	1886; 138 years ago (1886)
Founders	James S. Kuhn W.S. Kuhn
Headquarters	Camden, New Jersey , U.S.
Key people	M. Susan Hardwick, President and CEO Cheryl Norton, EVP and Chief Operating Officer John C. Griffith, EVP and Chief Financial Officer James H. Gallegos, EVP and General Counsel Melanie M. Kennedy, EVP and Chief Human Resources Officer
Products	Water
Revenue	US$3.93 billion (2021)[1]
Operating income	US$1.20 billion (2021)
Net income	US$1.26 billion (2021)
Total assets	US$26.08 billion (2021)
Total equity	US$7.30 billion (2021)
Number of employees	6,500[2]
Divisions	California American Water Hawaii American Water Illinois American Water Indiana American Water Iowa American Water Kentucky American Water Maryland American Water Missouri American Water New Jersey American Water Pennsylvania American Water Tennessee American Water Virginia American Water West Virginia American Water American Water Military Services Group
Website	American Water Corporate

American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.

Its regulated operations provide water and wastewater services to approximately 1,700 communities in 14 states, serving a population of approximately 14 million. The company has 3.4 million customers which includes residential, commercial, fire service and private fire, industrial, government facilities, and other water and wastewater utilities.^[3]

The shares are traded on the NYSE under the ticker AWK.^[4]

History

The utility was founded in 1886 as the American Water Works & Guarantee Company.^[5] In 1914, American Water Works and Guarantee Company became American Water Works and Electric Company.^[5] In 1947 it was reorganized as American Water Works Company, Inc.^[6]

Since December 2018, the company has its headquarters in Camden, New Jersey,^[7] and has about 6,500 professionals who provide drinking water, wastewater and related services to over 14 million people in 24 U.S. states.^[8]

Most of American Water's services are locally managed utility subsidiaries that are regulated by the U.S. state in which each operates. American Water also owns subsidiaries that manage municipal drinking water and wastewater systems under contract and others that supply businesses and residential communities with water management products and services.^[9]

In 2003, American Water established the American Water Military Services Group, which partners with the Department of Defense through the Utilities Privatization (UP) Program. Through this program, the company has a 50-year contract to provides water and wastewater utility services at 18 military installations in the U.S.^[10]

In October 2021, American Water sold its homeowner services group to Apax Partners for $1.27 billion.^[11]

Acquisitions

In May 2022, Pennsylvania American Water, a division of American Water, acquired the wastewater system assets for the City of York for $235.3 million.^[12]

Utilities

The company owns 80 surface water treatment plants, 480 groundwater treatment plants, 175 wastewater treatment plants, 53,500 miles of pipes, 1,100 groundwater wells, 1,700 water and wastewater pumping stations, 1,100 treated water storage facilities, and 73 dams. The company serves 14 million people with regulated operations in 14 states and on 18 military installations. Services provided by American Water's utilities are subject to regulation by multiple state utility commissions or other entities engaged in utility regulation. Federal, state and local governments also regulate environmental, health and safety, and water quality and water accountability matters.^[9]

Awards

American Water received the 2023 WaterSense Excellence Award from the U.S. Environmental Protection Agency in October and ranked 18 on the Barron’s 100 Most Sustainable U.S. Companies 2023 list.^[13]

Financials