American Water Works reports strong Q3 results on pricing

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October 30, 2024 6:05 PM EDT

(Reuters) - American Water Works 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)


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