American Water Statement on Impact of Tax Cuts and Jobs Act on Prior Guidance
January 02 2018 - 9:45AM
Business Wire
American Water Works Company, Inc. (NYSE: AWK), the largest
publicly traded U.S. water and wastewater utility company, has
issued a statement related to the Tax Cuts and Jobs Act (TCJA), and
the company’s guidance previously issued on Dec. 11, 2017. The
Company stated that the TCJA and any future Treasury rules,
regulations or guidance, may materially impact the company’s 2017
results of operations, as well as its expectations, and the related
estimates, assumptions and sensitivities, for its future financial
and operational performance disclosed in this prior guidance. As
stated on the Dec. 11 guidance call, the company’s prior guidance
did not include the impact of any tax reform legislation.
The company expects to provide an estimate of the impact of the
TCJA in conjunction with the filing of its Annual Report on Form
10-K for the year ended Dec. 31, 2017 and related information,
expected in February 2018. Additional information on the
preliminary impact of the TCJA may be found in the company’s Form
8-K, filed with the SEC today.
About American Water
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 an
estimated 15 million people in 47 states and Ontario, Canada. More
information can be found by visiting amwater.com.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements in this press release including, without
limitation, the impact and effect of the TCJA and any related
Treasury regulations, rules or interpretations, if and when issued,
on the company’s Dec. 11 guidance, as well as on the Company’s
results of operations to be reported for fiscal 2017, are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and the Federal securities laws. In some cases, these
forward-looking statements can be identified by words with
prospective meanings such as “intend,” “plan,” “estimate,”
“believe,” “anticipate,” “expect,” “predict,” “project,” “propose,”
“assume,” “forecast,” “likely,” “outlook,” “future,” “pending,”
“goal,” “objective,” “potential,” “continue,” “seek to,” “may,”
“can,” “will,” “should” and “could” and or the negative of such
terms or other variations or similar expressions. These
forward-looking statements are predictions based on American
Water’s current expectations and assumptions regarding future
events. They are not guarantees or assurances of any outcomes,
financial results of levels of activity, performance or
achievements, and readers are cautioned not to place undue reliance
upon them. The forward-looking statements are subject to a number
of estimates and assumptions, and known and unknown risks,
uncertainties and other factors. Actual results may differ
materially from those discussed in the forward-looking statements
included in this press release as a result of the factors discussed
in the Company’s Annual Report on Form 10-K for the year ended Dec.
31, 2016, and subsequent filings with the SEC, and because of
factors such as: the decisions of governmental and regulatory
bodies, including decisions to raise or lower rates; the timeliness
and outcome of regulatory commissions’ actions concerning rates,
capital structure, authorized return on equity, capital investment,
permitting, impacts pertaining to the TCJA, and other decisions;
changes in laws, governmental regulations and policies, including
public utility and tax regulations and policies; changes in its
capital requirements; its ability to control operating expenses and
to achieve efficiencies in its operations; changes in general
economic, political, business and financial market conditions;
changes in Federal or state income, general and other tax laws,
rules and regulations, including tax reform, the availability of
tax credits and tax abatement programs, and the ability to utilize
its U.S. and state net operating loss carryforwards; the incurrence
of impairment charges related to American Water’s goodwill or other
assets; and the impact of new accounting standards or changes to
existing standards.
These forward-looking statements are qualified by, and should be
read together with, the risks and uncertainties set forth above and
the risk factors included in the company’s annual and quarterly SEC
filings, and readers should refer to such risks, uncertainties and
risk factors in evaluating such forward-looking statements. Any
forward-looking statements speak only as of the date of this press
release. The company does not have or undertake any obligation or
intention to update or revise any forward-looking statement,
whether as a result of new information, future events, changed
circumstances or otherwise, except as otherwise required by the
Federal securities laws. Furthermore, it may not be possible to
assess the impact of any such factor on the company’s businesses,
either viewed independently or together, or the extent to which any
factor, or combination of factors, may cause results to differ
materially from those contained in any forward-looking statement.
The foregoing factors should not be construed as exhaustive.
Click here to subscribe to Mobile Alerts for American Water.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180102005401/en/
American Water Works Company, Inc.Ed VallejoVice President,
Investor Relations856-566-4005edward.vallejo@amwater.comorMaureen
DuffyVice President, Communications and Federal
Affairs856-309-4546Maureen.Duffy@amwater.com
American Water Works (NYSE:AWK)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Water Works (NYSE:AWK)
Historical Stock Chart
From Apr 2023 to Apr 2024