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American Water Works Company, Inc. 8-K Report, Corporate Update (Nov 12, 2024)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed November 12, 2024
Period End
November 6, 2024
Security
AWK
In the record · 2016–202610-K1110-Q328-K211

AWK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 211 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’16Oct ’16
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · May ’22May ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed November 12, 2024. Cited figures are marked; the original filing is the authoritative source.

American Water Works Company, Inc. (AWK) has announced a significant development regarding its Kentucky subsidiary, Kentucky American Water.

Following a rehearing request, the Kentucky Public Service Commission (KPSC) has issued a Final Order approving a $17.3 milliona annualized increase in water revenues. This represents a substantial increase of $6.7 million compared to the initial $10.6 million approved in the Original Order. The new rates became effective on November 6, 2024, providing a more favorable outcome for Kentucky American Water and, consequently, for AWK.

This positive resolution in the Kentucky rate case is a key event for investors, as it directly impacts the revenue and profitability of a significant subsidiary. The higher approved revenue increase should contribute positively to AWK's overall financial performance. Investors will be keen to understand the full implications of this rate adjustment on the company's earnings and future guidance, especially given the improved outcome from the rehearing.

02—Key points

Key Highlights

  1. Kentucky Public Service Commission (KPSC) issued a Final Order in Kentucky American Water's general rate case.
  2. The Final Order approves a $17.3 million annualized increase in water revenues.
  3. This is a $6.7 million increase compared to the $10.6 million approved in the Original Order.
  4. New rates approved in the Final Order became effective on November 6, 2024.
  5. The positive outcome of the rehearing is a favorable development for AWK's subsidiary.
  6. Kentucky American Water is a wholly owned subsidiary of American Water Works Company, Inc.

03—Questions

Frequently Asked Questions

  1. What is the main event reported in this 8-K filing?

    The main event is the issuance of a Final Order by the Kentucky Public Service Commission (KPSC) in the general rate case for Kentucky American Water, a subsidiary of AWK. This Final Order grants a higher annualized increase in water revenues than initially approved.

  2. How much is the approved revenue increase in Kentucky?

    The KPSC has approved an annualized increase of $17.3 million in water revenues for Kentucky American Water. This is a notable improvement from the $10.6 million approved in the Original Order.

  3. When do the new rates go into effect?

    The new rates provided in the Final Order became effective on November 6, 2024.

  4. What is the significance of this rate increase for American Water Works Company (AWK)?

    This is significant because it represents a more favorable revenue outcome for a key subsidiary, Kentucky American Water. The higher approved revenue increase is expected to positively impact AWK's overall financial performance and profitability.

04—Continue

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