American Water Sees FY24 EPS $5.10-$5.20 Vs $4.80 Estimate
Portfolio Pulse from Benzinga Newsdesk
American Water (AWK) has provided its FY24 earnings guidance, expecting EPS to be between $5.10 and $5.20, higher than the previous estimate of $4.80. The company's long-term EPS CAGR of 7-9% and rate base growth expectation of 8-9% remain unchanged. It also plans to invest $16-$17 billion from 2024-2028 and $34-$38 billion from 2024-2033.
November 01, 2023 | 8:36 pm
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American Water's raised FY24 EPS guidance and unchanged long-term growth expectations could potentially boost investor confidence. The company's significant capital investment plans for the next decade also indicate a strong growth strategy.
The raised FY24 EPS guidance indicates that American Water expects to perform better than previously estimated. This, along with the unchanged long-term growth expectations, suggests a positive outlook for the company. The significant capital investment plans further indicate a strong growth strategy, which could potentially boost investor confidence and positively impact the stock price in the short term.
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