American Water Works Co. Inc. reported year-to-date 2025 earnings per share $(EPS)$ of $4.47, compared to $4.17 in the same period in 2024. The company affirmed its long-term EPS growth target of 7-9% and a dividend per share growth target of 7-9%, with a dividend payout ratio of 55-60% and a debt to capital ratio below 60%. American Water Works entered into equity forward agreements for approximately $1.0 billion, assuming settlement in mid-2026 to fully satisfy 2026 equity needs, and issued $900.0 million in senior notes in August. The company has over $600.0 million of acquisitions under agreement, representing about 107,000 customer connections. American Water Works also announced a merger with Essential Utilities, with the goal of making all Public Utility Commission filings within 60 days. EPS for 2025 includes $0.10 per share of incremental interest income from the seller note resulting from the 2021 sale of the Homeowner Services Group, amended in early 2024. Transaction costs and expenses associated with the merger with Essential Utilities are excluded from the results.