American Water Works Company, Inc.

American Water Works Company, Inc. (NYSE: AWK) is the largest and most geographically diverse publicly-traded water and wastewater utility company in the United States, serving approximately 14 million people across 24 states. Founded in 1886, the company operates through approximately 7,000 employees providing drinking water, wastewater, and related services to a customer base of 3.6 million active accounts in its water and wastewater networks. The company's website is americanwater.com.

The Regulated Businesses segment represents the core of American Water's operations, accounting for 92 percent of total operating revenues. This segment encompasses utility operations in 14 states, with the largest concentrations in Pennsylvania, New Jersey, Missouri, Illinois, and California. The company's regulated utilities provide water and wastewater services to residential, commercial, industrial, public authority, fire service, and resale customers. Water supply sources include surface water from reservoirs, lakes, rivers and streams, groundwater from wells and aquifers, and purchased water from third-party suppliers. The company's wastewater services involve collection, treatment, and recycling of wastewater to meet regulatory standards.

The Other segment, representing 8 percent of revenues, includes the Military Services Group, which operates water and wastewater services on 18 military installations under 50-year contracts with the U.S. government, as well as municipal contracts and corporate costs not allocated to regulated operations.

American Water's business model centers on regulated utility operations subject to state public utility commission oversight. The company pursues acquisitions of water and wastewater systems in geographic proximity to existing operations, leveraging scale and operational efficiencies. The company plans to invest between 46 billion and 48 billion dollars over the next decade for capital improvements, including infrastructure replacement and upgrades to aging treatment facilities. In October 2025, the company entered into a merger agreement with Essential Utilities, Inc., with expected closing by the end of the first quarter of 2027. The company also agreed to acquire certain water and wastewater systems from a subsidiary of Nexus Water Group, Inc.