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MarketScreener Homepage  >  Equities  >  Nyse  >  American Water Works Company, Inc.    AWK

AMERICAN WATER WORKS COMPANY, INC.

(AWK)
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Illinois American Water : Acquires Granite City Wastewater Collection System

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09/25/2020 | 02:22pm EDT

Company is committed to investing $27 million in first five years of ownership

Illinois American Water President Justin Ladner announced today the Company’s acquisition of the Granite City Wastewater Collection System. This purchase adds approximately 12,150 customer connections to the company’s customer base in southern Illinois.

Granite City leaders voted in favor of the sale in December 2019. The Illinois Commerce Commission (ICC) recently approved the sale for $18 million. This is Illinois American Water’s sixth acquisition this year.

“Illinois American Water’s growth is a testament to the excellent service our employees deliver every day. Our water and wastewater experts are the best of the best; they are well-positioned to resolve issues facing communities like EPA consent decrees, water quality issues and aging infrastructure. I’m proud of our track record for safe, reliable service,” said Ladner.

Granite City Mayor Ed Hagnauer agreed that the sale of the wastewater collection system to Illinois American Water would “support system improvement needs.” He added, “We have a strong relationship with Illinois American Water and know first-hand of their commitment to upgrading critical infrastructure. I am confident our wastewater collection system will be significantly improved over the coming years.”

Illinois American Water plans to invest $27 million in the first five years of ownership to upgrade Granite City’s wastewater collection system. Upgrades will include:

  • GPS data collection
  • System modelling to assist with facility planning and optimization
  • Lift station improvements
  • Sewer main and manhole replacements

In addition to system upgrades, Mayor Hagnauer explained sale proceeds will support the community’s financial stability.

Director of Operations Karen Cooper said, “We enjoy being part of the Granite City community and are excited to own and manage the wastewater collection system. We will continue our commitment to provide safe, reliable service to our valued customers.”

To learn more about Illinois American Water visit www.illinoisamwater.com.

About Illinois American Water - Illinois American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.3 million people. American Water also operates a customer service center in Alton and a quality control and research laboratory in Belleville. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

Illinois American Water ranked #1 in Customer Satisfaction
with Large Water Utilities in the Midwest according to the J.D. Power
2020 Water Utility Residential Customer Satisfaction Study
For J.D. Power 2020 award information, visit jdpower.com/awards

© Business Wire 2020

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Financials (USD)
Sales 2020 3 793 M - -
Net income 2020 694 M - -
Net Debt 2020 10 071 M - -
P/E ratio 2020 40,1x
Yield 2020 1,39%
Capitalization 28 000 M 28 000 M -
EV / Sales 2020 10,0x
EV / Sales 2021 9,65x
Nbr of Employees 6 800
Free-Float 96,8%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 143,88 $
Last Close Price 154,52 $
Spread / Highest target 10,0%
Spread / Average Target -6,89%
Spread / Lowest Target -29,5%
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Managers
NameTitle
Walter J. Lynch President, CEO, Chief Operating Officer & Director
Karl F. Kurz Non-Executive Chairman
M. Susan Hardwick Chief Financial Officer & Executive Vice President
George F. MacKenzie Independent Director
Julia L. Johnson Independent Director
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