Customer growth fueled by utility system acquisitions
American Water Works serves 3,269 water and 261 wastewater customers and served nearly 14.0 million individuals in 2021. Customer growth in the company’s regulated utility business has primarily been driven through acquisitions of existing utility systems and, to a lesser extent, through population growth in authorized service areas. In 2021, the company invested over $250.0 million to fund acquisitions of assets in New York and New Jersey that ultimately added nearly 20,000 water and wastewater customers to the company’s regulated businesses. American Water Works plans to spend between $1.5 and $2.0 billion over the next five years to complete more acquisitions and expand the company’s customer base.
Balance Sheet|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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