AWK Filings — American Water Works Company, Inc. - FilingSpy
AWK
American Water Works Company, Inc.
A provider of water and wastewater services, American Water is the largest publicly-traded water utility in the United States, serving millions of people across more than a dozen states. It was founded in 1886 in Pennsylvania by brothers James and William Kuhn, who built a business of buying up and managing local water systems; the "Guarantee" in its original name, American Water Works & Guarantee Company, reflected its role as a parent firm backing those utilities financially. It also runs water systems on military installations under long-term contracts.
Pennsylvania PUC approves $74.9M annual revenue increase for American Water subsidiary
On July 16, 2026, the Pennsylvania Public Utility Commission approved a rate adjustment for Pennsylvania American Water, a subsidiary of American Water Works Company, Inc.
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The PUC authorized an annual revenue increase of approximately $74.9 million to support infrastructure improvements, including aging infrastructure replacement, PFAS treatment expansion, and lead service line elimination.
The rate case was filed on November 14, 2025, and Pennsylvania American Water is reviewing the decision and expects a final order from the PUC in due course.
PUC Chairman Stephen M. DeFrank commended the company's assistance to troubled water systems, including work in Dimock and receiverships for Rock Spring Water Company and East Dunkard Water Authority.
The company plans to engage with Governor Josh Shapiro's Special Counsel on affordability before future rate case filings.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Missouri American Water files $179M rate request with Missouri PSC, citing $1.6B in investments
On July 1, 2026, Missouri American Water filed a rate request with the Missouri Public Service Commission seeking annualized incremental revenue of approximately $179 million, excluding infrastructure surcharges of about $32 million.
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The request is based on a return on equity of 10.50% and a capital structure with 50.3% equity and 49.7% long-term debt.
The revenue increase is driven by approximately $1.6 billion in capital investments from June 2025 through May 2028, including pipeline replacements, treatment plant upgrades, and lead service line replacements.
If approved, new rates could take effect in June 2027; the MoPSC review process can take up to 11 months.
The average residential customer in St. Louis County would see a water bill increase of about $23 per month, while those outside the county would see about a $15 per month increase.
8.01 Other Events · 9.01 Financial Statements and Exhibits
American Water subsidiaries file rate case settlements in California and Virginia
California American Water filed a partial settlement with the CPUC on June 8, 2026, for its general rate case, proposing incremental annualized revenues of $24M (2027), $21M (2028), and $22M (2029).
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The California settlement, reached with the CPUC's Public Advocates Office, is driven by ~$750M in capital investments (2025-2028); CWIP treatment remains the only pending issue.
Virginia American Water filed a stipulation with the VSCC on June 5, 2026, agreeing to a $16M annualized revenue increase, versus its ~$22M request, driven by ~$115M in capital investments.
The Virginia stipulation sets ROE at 9.75% and equity component at 51.79% for future filings, up from 9.70% and 45.67% in the prior rate case.
New California rates are expected January 1, 2027; Virginia interim rates took effect May 2, 2026, with refunds if final rates differ.
8.01 Other Events · 9.01 Financial Statements and Exhibits
American Water completes $315M acquisition of Nexus water/wastewater systems in eight states
On June 1, 2026, American Water Works Company, Inc. completed the acquisition of equity interests in entities owning regulated water and wastewater system assets from Nexus Regulated Utilities, LLC.
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The aggregate purchase price was approximately $315 million, subject to adjustment, and the estimated aggregate rate base of the acquired assets is approximately $200 million.
The acquired systems are located in Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee, and Virginia, adding approximately 47,000 customer connections and about 70 employees.
The acquisition was completed under a Purchase and Sale Agreement dated May 19, 2025, and all required regulatory approvals were obtained prior to closing.
The cash purchase price was funded from cash flow from operations and other existing sources of liquidity.
8.01 Other Events · 9.01 Financial Statements and Exhibits
American Water subsidiary sells $500M of 4.625% Senior Notes due 2029
On May 18, 2026, American Water Capital Corp. (AWCC) agreed to sell $500 million aggregate principal amount of 4.625% Senior Notes due 2029.
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The underwriters are BofA Securities, Inc., RBC Capital Markets, LLC, and Wells Fargo Securities, LLC, as representatives of the several underwriters.
The offering closed on May 20, 2026, with net proceeds of approximately $498.0 million after underwriting discounts.
Proceeds will be used to repay a portion of AWCC's 3.625% exchangeable senior notes due 2026, outstanding commercial paper, and for general corporate purposes.
The notes are supported by a support agreement from American Water, dated June 22, 2000, as amended.
8.01 Other Events · 9.01 Financial Statements and Exhibits
American Water shareholders approve equity plan amendments, ESPP, and officer exculpation at 2026 annual meeting
Shareholders approved amendments to the 2017 Omnibus Equity Compensation Plan, effective January 1, 2027, with a share limit of 7,180,623 shares.
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Shareholders approved amendments to the 2017 Nonqualified Employee Stock Purchase Plan, effective February 5, 2027, allowing employees to buy stock at a 15% discount.
Shareholders approved an amendment to the certificate of incorporation to provide officer exculpation, filed with Delaware on May 14, 2026.
All 10 director nominees were elected, including Jeffrey N. Edwards, John C. Griffith, and Lisa A. Grow, with terms expiring at the 2027 annual meeting.
Kentucky American Water filed a rate request seeking $17.7 million in additional annual revenue, with interim rates expected December 16, 2026.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders · 8.01 Other Events · 9.01 Financial Statements and Exhibits