American Water Works (AWK) Q4 FY2021 earnings: revenue $951 million, up 3.0% on the year

American Water Works Company, Inc. (AWK) reported revenue of $951 million for Q4 FY2021, the quarter ended 31 December 2021, up 3.0% on the same quarter a year earlier as this quarter's filing gives it. Net income was $645 million, up 344.8% on the year as this quarter's filing gives it, and diluted earnings per share $3.55. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.

Revenue

$951 million

+3.0% on the year · -12.9% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

23.1%

28.5% a year earlier

Q1 FY2020Q4 FY2021

Net income

$645 million

+344.8% on the year · +132.0% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$3.55

+343.8% on the year · +132.0% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	951	1,092	923	-12.9%	+3.0%
Operating income	220	417	263	-47.2%	-16.3%
Operating margin	23.1%	38.2%	28.5%
Pre-tax income	894	n/a	n/a
Income tax	249	n/a	n/a
Effective tax rate	27.9%	n/a	n/a
Net income	645	278	145	+132.0%	+344.8%
Net margin	67.8%	n/a	n/a
Diluted EPS	$3.55	$1.53	$0.80	+132.0%	+343.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	412	n/a	n/a
Capital expenditure	559	n/a	n/a
Free cash flow	-147	n/a	n/a
Free cash flow margin	-15.5%	n/a	n/a
Cash from investing	-183	n/a	n/a
Cash from financing	-193	n/a	n/a
Depreciation and amortisation	160	161	153	-0.6%	+4.6%
Dividends paid	110	n/a	n/a
Dividend per share	$0.60	n/a	n/a
Diluted shares, weighted	n/a	182m	n/a
Shares outstanding at period end	182m	182m	181m	+0.1%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	7,298	6,866	6,454	+6.3%	+13.1%
Debt	10,982	11,081	10,940	-0.9%	+0.4%
Operating lease liabilities	80.0	n/a	n/a
Other liabilities	7,715	n/a	n/a
Total liabilities and equity	26,075	n/a	n/a
Goodwill	1,139	n/a	n/a
Cash and equivalents	116	70.0	547	+65.7%	-78.8%
Receivables	271	n/a	n/a
Other assets	24,549	n/a	n/a
Total assets	26,075	n/a	n/a

Questions

What was American Water Works' revenue in Q4 FY2021?

American Water Works (AWK) reported revenue of $951 million for Q4 FY2021, the quarter ended 31 December 2021, up 3.0% on the same quarter a year earlier as the company restated it.

How much did American Water Works earn in Q4 FY2021?

Net income for Q4 FY2021 was $645 million, up 344.8% on the year, and diluted earnings per share $3.55.

When did American Water Works report Q4 FY2021 results?

American Water Works filed its 10-K for the quarter ended 31 December 2021 with the SEC on 16 February 2022.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	951	842	937	1,082	931	938	1,097	1,167	1,032	1,011	1,149	1,323	1,201	1,142	1,276	1,451	1,271	1,207	1,355	1,510
Operating income	220	246	327	439	261	295	432	478	299	326	449	543	400	371	489	614	405	391	542	641
Operating margin	23%	29%	35%	41%	28%	31%	39%	41%	29%	32%	39%	41%	33%	32%	38%	42%	32%	32%	40%	42%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	110	117	n/a	124	131	132	136	144	151	158	162	163	167	167
Pre-tax income	894	193	270	367	178	214	357	407	218	242	361	453	303	270	376	494	282	259	405	499
Tax rate	28%	18%	19%	19%	17%	21%	22%	21%	22%	24%	23%	23%	21%	24%	23%	23%	16%	24%	22%	22%
Net income	645	158	218	297	147	170	280	323	171	185	277	350	239	205	289	379	238	196	315	387
Net margin	68%	19%	23%	27%	16%	18%	26%	28%	17%	18%	24%	26%	20%	18%	23%	26%	19%	16%	23%	26%
Diluted EPS	$3.55	$0.87	$1.20	$1.63	$0.81	$0.91	$1.44	$1.66	$0.88	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48	$1.94	$1.22	$1.00	$1.61	$1.94
Operating cash flow	412	154	42.0	568	344	285	429	633	527	382	345	679	639	331	301	764	663	305	602	728
Capital expenditure	559	424	571	602	700	526	627	626	796	609	670	683	894	548	733	797	1,048	659	860	888
Free cash flow	-147	-270	-529	-34.0	-356	-241	-198	7.0	-269	-227	-325	-4.0	-255	-217	-432	-33.0	-385	-354	-258	-160
Dividends paid	110	109	119	120	119	119	138	138	137	138	149	149	149	149	162	161	161	162	174	178
Shares outstanding	182m	182m	182m	182m	182m	195m	195m	195m	195m	195m	195m	195m	195m	195m	195m	195m	195m	195m	199m	199m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 16 February 2022: the filing.