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American Water Works reports strong Q3 results on pricing
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American Water Works reports strong Q3 results on pricing
Oct 31, 2024 6:19 AM

Oct 30 (Reuters) - American Water Works ( AWK ) 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 ( AWK ) 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.

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