American Water Works (NYSE: AWK) reported adjusted earnings of $1.61 per share for the second quarter of 2026, an increase from $1.49 per share in the same period last year. The company reaffirmed its full-year adjusted EPS guidance of $6.02 to $6.12 for 2026, representing anticipated growth of approximately 8%. Total debt-to-capital ratio stood at 58% as of June 30.
In the first half of 2026, American Water invested $1.8 billion in capital projects and acquisitions, including the acquisition of 47,000 customer connections from Nexus Water Group on June 1. The company also completed rate cases in West Virginia, Maryland, and Pennsylvania, authorizing nearly all capital investments made in those states. In Pennsylvania, a $75 million annual revenue increase was approved, set to take effect on August 13.
American Water is advancing its proposed merger with Essential Utilities, having received regulatory approvals in Kentucky, Ohio, and Virginia. The merger is expected to close by the end of the first quarter of 2027, with ongoing merger proceedings in other states, including Texas and Pennsylvania.
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