American Water Q2 Earnings Fall, Revenue Rises; Narrows 2024 Outlook, Keeps Dividend Steady at $0.765 per Share

American Water (AWK) late Wednesday reported Q2 net income of $1.42 per diluted share compared with $1.44 a year earlier.

Analysts polled by Capital IQ expected $1.45.

Revenue for the quarter ended June 30 was $1.15 billion, compared with $1.1 billion a year earlier.

Analysts expected $1.1 billion.

For 2024, the water supplier and treatment company narrowed its earnings outlook to $5.25 to $5.30 from its prior guidance of $5.20 to $5.30. Analysts expect $5.23.

The company also named John Griffith as the company's new president and added responsibility for business development to Chief Operating Officer Cheryl Norton's job portfolio, effective Aug. 1. David Bowler was selected to be chief financial officer while Nicholas Furia is becoming the company's treasurer.

American Water Wednesday night maintained its quarterly dividend of $0.765 per share, payable Sept. 4 to shareholders of record on Aug. 13.

Price: 141.57, Change: -0.79, Percent Change: -0.55