Sector: Utilities|Industry: Utilities - Regulated Water|Market Cap: $24.12B|Employees: 6.5K
American Water is the largest and most geographically diverse, publicly-traded water and wastewater utility company in the United States. The company's primary business involves the ownership of utilities that provide water and wastewater services to residential, commercial, industrial and public authority customers. American Water operates in 14 states and also provides services to the U.S. government on military installations.
Operating revenues reached $1.323 billion for the three months ended September 30, 2024, compared to $1.167 billion for the same period in 2023. This increase is primarily attributed to authorized rate increases and acquisitions.
Net income attributable to common shareholders was $350 million for the three months ended September 30, 2024, compared to $323 million for the same period in 2023. This increase is primarily due to higher operating revenues.
Operating expenses reached $780 million for the three months ended September 30, 2024, compared to $689 million for the same period in 2023. This increase is primarily attributed to increased production costs, employee related costs, and other operating expenses.