American Water Works reports strong Q3 results on pricing

American Water Works Co

30/10/2024 21:59

Oct 30 (Reuters) - American Water Works  AWK.N  reported
a rise in profit and revenue for the third quarter on Wednesday,
driven by efforts to increase pricing for its drinking water and
waste water management services.
    The company, which serves residential and industrial
consumers in North America, reported a quarterly profit of $1.80
per share, compared to $1.66 per share last year. 
    Third-quarter revenue was up 13% at $1.32 billion. 
    In October, the company completed the acquisition of the
waste water collection and treatment system assets of Butler
Area Sewer Authority in Pennsylvania for $230 million, adding
around 15,000 customer connections.  
    American Water Works also forecast 2025 earnings per share
in the range of $5.65 to $5.75, which includes 10 cent gains
from interest on amended Homeowner Services Group' seller note. 
    Separately, it also appointed Stuart McGuigan to its board
of directors, which now consists of 10 members.

(Reporting by Pratyush Thakur in Bengaluru; editing by Alan
Barona)
((mailto:pratyush.thakur@thomsonreuters.com))