American Water’s servicesAmerican Water provides several services, though its primary businesses are water and wastewater services, of which it had 3.5 million customers across 24 states in 202. The majority of American Water’s customers are in Pennsylvania and New Jersey. American Water’s largest business segment is its residential water service segment. Almost 70 percent of American Water’s water supply comes from surface water, though this varies from state to state. The company’s services are generally regulated by the U.S. state in which it operates, under locally managed subsidiaries.
American Water’s revenue continues to riseAmerican Water’s operating revenue was 3.93 billion U.S. dollars for the year ended December 31, 2021. This was an increase of 153 million U.S. dollars from the previous year. American Water’s revenue has increased by 55 percent since 2010, having risen annually since then.
The 2021 financial year also saw American Water’s total assets increase by 5.3 percent to a high of 26.07 billion U.S. dollars. American Water invests billions of dollars every year to maintain its assets. Investments include replacing aging infrastructures, upgrading existing facilities or constructing new ones, ensuring fire protection, and complying with water quality standards. In 2021, American Water’s capital expenditure totaled 1.76 billion U.S. dollars, of which 749 million U.S. dollars went towards transmission and distribution.