American Water (American Water Works Co. Inc.) reported FY 2025 GAAP diluted EPS of USD 5.69 and adjusted diluted EPS of USD 5.64. Operating revenues were USD 5.14 billion, with operating income of USD 1.88 billion. Net income attributable to common shareholders was USD 1.11 billion. Net cash provided by operating activities was USD 2.06 billion, while capital expenditures totaled USD 3.13 billion. In its Regulated Businesses segment, operating revenues were USD 4.72 billion, including USD 4.23 billion from water services and USD 422 million from wastewater services. The company said 2025 operating revenues rose USD 427 million primarily from authorized rate increases, including infrastructure surcharges, and increased USD 49 million from acquisitions and organic growth, partially offset by an estimated USD 36 million weather-related decrease. American Water said it invested USD 3.2 billion in the Regulated Businesses in 2025 and spent USD 83 million on regulated acquisitions, adding about 20,900 customers, with approximately 18,900 more added through organic growth. The company also announced a proposed stock-for-stock merger with Essential under which Essential shareholders would receive 0.305 shares of American Water common stock per share, with closing currently estimated by the end of Q1 2027; American Water recorded USD 13 million of merger-related costs in FY 2025 and expects total pre-close merger-related costs of about USD 150 million for both companies. Separately, American Water entered into a purchase agreement to acquire Nexus Regulated Utilities assets for approximately USD 315 million in cash, targeting closing by or before August 2026 and adding nearly 47,000 customer connections across eight states.

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