American Water Works Company, Inc. Files Q1 2024 10-Q Report

TL;DR

<b>American Water Works Company, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational updates.</b>

AI Summary

American Water Works Company, Inc. (AWK) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Company's principal executive offices are located at 1 Water Street, Camden, NJ 08102-1658. The company's fiscal year ends on December 31st. Filed as of May 1, 2024.

Why It Matters

For investors and stakeholders tracking American Water Works Company, Inc., this filing contains several important signals. Provides investors with a quarterly update on the company's financial health and operational performance. Essential for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — American Water Works Company, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess performance trends and future outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-01 — Filing Date (Filed as of Date)
• 2024 Q1 — Quarter (Filing details)
• 1231 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• American Water Works Company, Inc. (company) — Filer name
• 1 Water Street, Camden, NJ 08102-1658 (address) — Business and mailing address
• 0001410636 (company) — Central Index Key
• 4941 (industry) — Standard Industrial Classification (Water Supply)
• DE (state) — State of Incorporation
• 1934 Act (regulation) — SEC Act
• 001-34028 (regulation) — SEC File Number

FAQ

Industry Context

American Water Works Company, Inc. operates in the water supply industry, providing essential water and wastewater services.

Regulatory Implications

The company is subject to various federal and state regulations governing public utilities and environmental standards.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and EPS trends.
2. Review management's discussion and analysis for operational highlights and challenges.
3. Examine any disclosed risk factors or subsequent events for potential impacts.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous fiscal year-end report.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share AWK New York Stock Exchange

Filing Documents

• awk-20240331.htm (10-Q) — 1322KB
• a2024q1ex-101.htm (EX-10.1) — 52KB
• a2024q1ex-102.htm (EX-10.2) — 56KB
• a2024q1ex-103.htm (EX-10.3) — 62KB
• a2024q1ex-104.htm (EX-10.4) — 65KB
• a2024q1ex-105.htm (EX-10.5) — 55KB
• a2024q1ex-106.htm (EX-10.6) — 61KB
• a2024q1ex-107.htm (EX-10.7) — 55KB
• a2024q1ex-108.htm (EX-10.8) — 61KB
• a2024q1ex-221_guaranteedse.htm (EX-22.1) — 8KB
• a2024q1ex-311.htm (EX-31.1) — 9KB
• a2024q1ex-312.htm (EX-31.2) — 9KB
• a2024q1ex-321.htm (EX-32.1) — 4KB
• a2024q1ex-322.htm (EX-32.2) — 4KB
• image_0.jpg (GRAPHIC) — 8KB
• image_01.jpg (GRAPHIC) — 20KB
• image_02.jpg (GRAPHIC) — 8KB
• image_03.jpg (GRAPHIC) — 20KB
• image_04.jpg (GRAPHIC) — 8KB
• image_05.jpg (GRAPHIC) — 8KB
• image_06.jpg (GRAPHIC) — 20KB
• image_07.jpg (GRAPHIC) — 20KB
• 0001410636-24-000092.txt (&nbsp;) — 8460KB
• awk-20240331.xsd (EX-101.SCH) — 70KB
• awk-20240331_cal.xml (EX-101.CAL) — 87KB
• awk-20240331_def.xml (EX-101.DEF) — 301KB
• awk-20240331_lab.xml (EX-101.LAB) — 641KB
• awk-20240331_pre.xml (EX-101.PRE) — 459KB
• awk-20240331_htm.xml (XML) — 1125KB

Forward-Looking Statements

Forward-Looking Statements 1

Financial Information

Part I. Financial Information

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 45

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 48

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 49

Exhibits

Item 6. Exhibits 49

Signatures

Signatures 52 * * * Throughout this Quarterly Report on Form 10-Q ("Form 10-Q"), unless the context otherwise requires, references to the "Company" and "American Water" mean American Water Works Company, Inc. and all of its subsidiaries, taken together as a whole. References to the "parent company" mean American Water Works Company, Inc., without its subsidiaries. The Company maintains a website at https://amwater.com, an Investor Relations website at https://ir.amwater.com, and a Diversity and Inclusion website at https://diversityataw.com. Information contained on the Company's websites, including its Sustainability Report, its Inclusion, Diversity and Equity Report, and other reports or documents, shall not be deemed incorporated into, or to be a part of, this report, and any website references included herein are not intended to be made through active hyperlinks. i Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS American Water Works Company, Inc. and Subsidiary Companies Consolidated Balance Sheets (Unaudited) (In millions, except share and per share data) March 31, 2024 December 31, 2023 ASSETS Property, plant and equipment $ 32,780 $ 32,189 Accumulated depreciation ( 6,757 ) ( 6,751 ) Property, plant and equipment, net 26,023 25,438 Current assets: Cash and cash equivalents 584 330 Restricted funds 42 34 Accounts receivable, net of allowance for uncollectible accounts of $ 49 and $ 51 , respectively 323 339 Income tax receivable 26 86 Unbilled revenues 316 302 Materials and supplies 115 112 Other 181 186 Total current assets 1,587 1,389 Regulatory and other long-term assets: Regulatory assets 1,117 1,106 Secured seller promissory note from the sale of the Homeowner Services Group 795 720 Operating lease right-of-use assets 90 86 Goodwill 1,143 1,143 Other 331 416 Total regulatory and other long-term assets 3,476 3,471 Total assets $ 31,086 $ 30,298 The accompanying notes are an integral part of these Consolidated Financial Statements. 4 Table of Contents American Water Works Company, Inc. and Subsidiary Companies Consolidated Balance Sheets (Unaudited) (In millions, except share and per share data) March 31, 2024 December 31, 2023 CAPITALIZATION AND LIABILITIES Capitalization: Common stock ($ 0.01 par value; 500,000,000 shares authorized; 200,273,523 and 200,144,968 shares issued, respectively) $ 2 $ 2 Paid-in-capital 8,561 8,550 Retained earnings 1,844 1,659 Accumulated other comprehensive loss ( 8 ) ( 26 ) Treasury stock, at cost ( 5,451,187 and 5,414,867 shares, respectively) ( 392 ) ( 388 ) Total common shareholders' equity 10,007 9,797 Long-term debt 12,566 11,715 Redeemable preferred stock at redemption value 3 3 Total long-term debt 12,569 11,718 Total capitalization 22,576 21,515 Current liabilities: Short-term debt — 179 Current portion of long-term debt 557 475 Acc

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) (Unless otherwise noted, in millions, except per share data) Note 1: Basis of Presentation The unaudited Consolidated Financial Statements included in this report include the accounts of American Water Works Company, Inc. and all of its subsidiaries (the "Company" or "American Water"), in which a controlling interest is maintained after the elimination of intercompany balances and transactions. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial reporting, and the rules and regulations for reporting on Quarterly Reports on Form 10-Q ("Form 10-Q"). Accordingly, they do not contain certain information and disclosures required by GAAP for comprehensive financial statements. In the opinion of management, all adjustments necessary for a fair statement of the financial position as of March 31, 2024, and the results of operations and cash flows for all periods presented, have been made. All adjustments are of a normal, recurring nature, except as otherwise disclosed. The unaudited Consolidated Financial Statements and Notes included in this report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2023 ("Form 10-K"), which provides a more complete discussion of the Company's accounting policies, financial position, operating results and other matters. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the year, primarily due to the seasonality of the Company's operations. Note 2: Significant Accounting Policies New Accounting Standards Presented in the table below are recently issued accounting standards that have not yet been adopted by the Company as of March 31, 2024: Standard Description Date of Adoption Application Effect on the Consolidated Financial Statements Segment Reporting

View Full Filing

View this 10-Q filing on SEC EDGAR