American Water Affirms 2018 GAAP EPS Guidance Range of $3.22 to $3.32 Per Diluted Share & Long-Term Adjusted EPS Compound Ann...
January 16 2018 - 6:05AM
Business Wire
Company Also Updates 2017 GAAP EPS Guidance
and Affirms 2017 Adjusted EPS Guidance
American Water Works Company, Inc. (NYSE: AWK), the largest
publicly-traded U.S. water and wastewater utility company,
announced in a Form 8-K furnished to the SEC today an update to its
previously issued earnings guidance, which includes estimated
impacts of the Tax Cuts and Jobs Act (TCJA).
American Water’s 2018 GAAP EPS guidance range, including the
estimated impacts of the TCJA, is $3.22 to $3.32 per diluted share.
This is the same GAAP EPS guidance range the company had provided
in its initial guidance issued on Dec. 11, 2017, which did not
include anticipated impacts of tax reform legislation.
American Water’s long-term guidance for the 2018-2022 period,
including the estimated impacts of the TCJA, is as follows:
- Long-term adjusted EPS CAGR of 7 to 10
percent
- Projected capital expenditures of $8.0
billion to $8.6 billion, with $7.2 billion projected for allocation
to regulated system investments
- Dividend growth expected at the high
end of the Company’s long-term adjusted EPS CAGR target
The long-term guidance for the 2018-2022 period is also the same
guidance the company provided in its initial guidance issued on
Dec. 11, 2017, which did not include anticipated impacts of tax
reform legislation.
As part of the company’s 2018-2022 long-term guidance, the
company does not plan to issue additional equity during this
period, under normal operating conditions.
The company also updated its 2017 GAAP EPS guidance and affirmed
its 2017 adjusted EPS guidance, including the estimated impacts of
the TCJA. Additional information on the estimated impacts of the
TCJA may be found in the company’s Form 8-K, as furnished to 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 included in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act, Section 21E of the Exchange Act, and the Private
Securities Litigation Reform Act of 1995. 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,” “assume,”
“forecast,” “outlook,” “future,” “pending,” “goal,” “objective,”
“potential,” “continue,” “seek to,” “may,” “can,” “will,” “should”
and “could,” or the negative of such terms or other variations or
similar expressions. Forward-looking statements relate to, among
other things, the impact and effect of the TCJA on the Company’s
results of operations to be reported for fiscal 2017 and on the
Company’s 2018 and long-term guidance, and the related estimates,
assumptions and sensitivities on which such guidance was based.
These forward-looking statements are predictions based on the
Company’s current expectations and assumptions regarding future
events, including the impact of the TCJA and the issuance of any
related rules, regulations or interpretations related thereto or
any future changes by state or local taxing authorities. They are
not guarantees or assurances of any outcomes, 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 Form 10-K for the year ended December 31, 2016, in
the Form 8-K furnished to the SEC today, and in other filings with
the SEC, and the additional risks and uncertainties described
herein.
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
reports as filed with the SEC, 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 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. New factors
emerge from time to time, and it is not possible for us to predict
all such factors. Furthermore, it may not be possible to assess the
impact of any such factor on the Company’s or its subsidiaries’
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 stated throughout this press
release should not be construed as exhaustive.
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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
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