American Water Works Reports Second Quarter Earnings Results for FY2023

🌥️Earnings Overview

AMERICAN WATER WORKS ($NYSE:AWK) reported total revenue of USD 1097.0 million and net income of USD 280.0 million for the second quarter of FY2023, which ended on June 30 2023. This represents a year-on-year increase of 17.1% and 28.4% respectively.

Market Price

On Wednesday, American Water Works (AWW) reported its second quarter earnings results for the financial year 2023. The stock opened at $147.5 and closed at $147.8, down by 0.3% from the previous day’s closing price of 148.3. AWW also announced that it had renewed its agreement with the U.S. Environmental Protection Agency (EPA) to support its efforts to reduce lead exposure in public water systems in the United States. Overall, despite the slight decrease in stock price, AWW reported strong earnings results for the quarter, which demonstrate its commitment to environmental stewardship and continued investment in infrastructure projects. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for AWK. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for AWK. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for AWK. More…

Key Ratios Snapshot

Some of the financial key ratios for AWK are shown below. More…

Analysis

At GoodWhale, we have carefully analyzed the financials of AMERICAN WATER WORKS and rated it as a medium risk investment in terms of financial and business aspects. To give you a more detailed understanding of our findings, we have identified two potential risk warnings in the company’s income sheet and cashflow statement. To view these warnings, make sure to become a registered user of GoodWhale. More…

Peers

American Water Works Co Inc, American States Water Co, Global Water Resources Inc, and Artesian Resources Corp are all water utilities companies. They are all in the business of providing water and wastewater services to residential, commercial, and industrial customers.

– American States Water Co ($NYSE:AWR)

American States Water Co is a water and wastewater utility company that serves nearly million people in the United States. The company has a market cap of 3.22B as of 2022 and a ROE of 12.01%. American States Water Co is the largest water utility company in California and the fourth largest in the United States. The company also provides wastewater services to approximately 700,000 people in Arizona, Illinois, New Mexico, and Texas.

– Global Water Resources Inc ($NASDAQ:GWRS)

Global Water Resources, Inc. is a water resource management company that provides water and wastewater services to residential and commercial customers in the Phoenix metropolitan area. The company has a market cap of $296.66 million and a return on equity of 21.79%. Global Water Resources is headquartered in Scottsdale, Arizona.

– Artesian Resources Corp ($NASDAQ:ARTNA)

Artesian Resources Corp is a water utility company that serves the metropolitan area of Wilmington, Delaware. It is the largest provider of water and wastewater services in the state of Delaware, and is the 8th largest provider of water and wastewater services in the United States. The company has a market cap of 496.24M as of 2022 and a Return on Equity of 10.87%.

Summary

Investors in American Water Works Company have been rewarded with strong financial performance in the second quarter of FY2023. Revenue for the quarter grew 17.1% year-on-year to USD 1097.0 million, while net income rose 28.4% to USD 280.0 million. The company’s solid financial results demonstrate the strength of its underlying business and bode well for future growth potential. Investors may want to consider adding American Water Works to their portfolio as it appears to be an attractive long-term investment opportunity.