American Water, the largest publicly traded U.S. water and wastewater utility company, announced a 10-year capital spending plan, setting long term growth targets and announced 2020 earnings per share guidance.
American Water estimates its 2020 earnings to be in the range of $3.79 to $3.89 per diluted share.
“American Water’s business model, strategies and focus remain the same, but we are constantly looking into the future at how to best develop and implement the most effective and efficient ways to deliver safe, clean, reliable and affordable water and wastewater services for our customers and communities,” said Susan Story, President and CEO of American Water. “Whether it is addressing macro trends we face such as increasing customer demands for 24/7 personalized choices, the integration of artificial intelligence and technology into operations or emerging issues around water quality, we know that the steady execution of our business fundamentals will continue to demonstrate that we are a ‘Best in Class’ organization creating long-term value for all of our stakeholders.”
The company increases regulated infrastructure investment by $800 million for the 2020 to 2024 capital plan and introduces a 10-year capital spending plan at a range of $20 to $22 billion.
The company affirmed its 2019 earnings guidance GAAP range of $3.57 - $3.65 per diluted share. The GAAP range includes an item set forth in the table included with this press release and does not reflect any impact of the transactions announced on November 20, 2019. Excluding the item set forth in the table, the company's 2019 adjusted (non-GAAP) earnings guidance range is $3.56 - $3.64 per diluted share.
