Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Revenue rose while customers used less water
Approved rates on past investment, not gallons sold, set the top line, so revenue grew even as billed volume fell.
For investorsWhat has to go right for earnings per share to grow again
For foundersRolling up a fragmented industry: the playbook behind the acquisitions
Investment that regulators recognise in rates is how this company grows revenue, so the spending comes first and recovery follows.
Operating income grew 4.4%, but interest income from a loan repaid in February vanished, so pre-tax income barely rose.
Net income rose 2.11%, but new shares issued to fund investment spread it across more owners, leaving per-share earnings flat.
Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.
Free CXProWealth membership required
Business Lens describes American Water Works from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
