American Water Works (AWK) 10-K Summary — Year Ended Dec 31, 2023
American Water Works is a regulated water and wastewater utility company. Its revenue grew over the latest annual period.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
American Water Works is a regulated water and wastewater utility company. Its revenue grew over the latest annual period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$4.2B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
n/a
Net income reported for the year.
Operating cash flow
$1.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $3.9B | n/a |
| Dec 31, 2022 | $3.8B | -3.9% |
| Dec 31, 2023 | $4.2B | +12.1% |
Business overview
The company operates as a regulated utility, providing water and wastewater services. Its business is subject to rate regulation that influences investment recovery and returns. Capital expenditures are directed primarily toward regulated infrastructure projects.
Financial performance
Revenue for the latest annual period increased compared to the prior year. Operating cash flow was reported at a positive level. Net income and operating income figures were not provided in the supplied data.
Material risks
The company faces risks related to rate regulation, including potential limitations on the recovery of new investments and regulatory lag. Its capital recovery occurs over extended periods under regulated rate environments. Cybersecurity is also identified as a risk area.
Liquidity and capital
The company uses cash primarily to fund operations, capital projects, debt obligations, dividends, acquisitions, pension obligations, and taxes. It invests heavily in regulated capital projects where it expects long-term returns, though recovery timing is subject to regulatory lag.
What to watch
Monitor how the upcoming filing addresses regulatory developments affecting capital recovery timelines and rates.