CAMDEN, N.J. – October 29, 2026 -- American Water Works Company (NYSE: AWK) reported third-quarter 2026 adjusted earnings of $2.00 per share, up from $1.89 a year earlier, and narrowed its 2026 adjusted EPS guidance to $6.07-$6.12 from $6.02-$6.12.
GAAP earnings were flat at $1.94 per share in the quarter. Year-to-date adjusted EPS reached $4.63 versus $4.40 in 2025, while GAAP EPS rose to $4.56 from $4.47.
American Water sets 2027 standalone EPS guidance at $6.53-$6.63
The range implies 8% EPS growth at the midpoint against 2026 adjusted guidance. All standalone long-term targets are unchanged: EPS growth of 7-9%, rate base growth of 8-9% including acquisitions, acquired customer addition growth of 2% and dividend per share growth of 7-9%.
The standalone capital investment plan is $20+ billion for 2026-2030 and $48+ billion for 2026-2035. The 2027 standalone plan is $4.1 billion.
Regulated Businesses lift quarterly net income to $407 million on new rates
Net income at the Regulated Businesses rose to $407 million from $383 million in the third quarter. Nine-month net income reached $946 million, compared with $872 million in 2025.
Operating revenues rose $60 million in the quarter and $212 million over nine months. Authorized rate increases and infrastructure proceedings, plus closed acquisitions, drove the gains. Unfavorable weather cut revenues by $18 million in the quarter and $7 million year-to-date.
Costs rose as well. Operating expenses increased $30 million in the quarter and $103 million over nine months, driven by higher purchased water, purchased power and chemicals costs. Depreciation climbed $18 million and $60 million, and interest expense rose $9 million and $32 million over the same periods on debt issued to fund investment and acquisitions.
Regulators have authorized $284 million in annualized revenue since January 1
Of that total, $179 million came from general rate cases and $105 million from infrastructure surcharges. General rate cases are pending in five jurisdictions, and surcharge filings are pending in two. Together they represent a $360 million annualized incremental revenue request. New rates took effect in Pennsylvania and New Jersey in the third quarter.
Company invests $2.8 billion in nine months and adds 81,000 customer connections
Spending included $437 million on regulated acquisitions. The 2026 capital plan of approximately $3.7 billion remains on track. About 81,000 customer connections have been added through acquisitions as of September 30, including the Nexus Water systems.
Essential Utilities merger gains approvals in three states
Settlements have been reached in Pennsylvania, North Carolina and Texas. CEO John Griffith said the company still expects to close the merger by the end of the first quarter of 2027. The 2026 guidance range excludes merger transaction costs and weather impacts.
The board declared a quarterly dividend of $0.8950 per share, payable December 1 to shareholders of record on November 12. The company will hold its earnings call at 9 a.m. Eastern Time on October 29.