Japan records surprise trade deficit in July as exports weaken further
BASS LAKE, Calif. - California American Water has completed its acquisition of the Bass Lake Water Company system, a transaction previously approved by the California Public Utilities Commission. The deal, which closed on August 19, brings approximately 1,000 customers in the Bass Lake area under California American Water’s service umbrella. This expansion aligns with the company’s growth strategy, reflected in its parent company American Water’s (NYSE:AWK) strong 13.4% revenue growth over the last twelve months.
The acquisition represents California American Water’s eighth purchase in the past five years, adding to the more than 13,000 water and wastewater customers the company has acquired since 2020.
"We’re thrilled to begin providing Bass Lake customers with high-quality water service," said Kevin Tilden, President of California American Water, according to the company’s press release.
Steve Wetch, President of Bass Lake Water Company, called the agreement "a win for our community," noting that the sale would secure "needed expertise to successfully operate our new water treatment plant and make required infrastructure improvements."
Bass Lake customers will gain access to California American Water’s online account management portal, MyWater, and other customer service programs. The company has stated that residents will receive additional information by mail to facilitate the transition.
California American Water, a subsidiary of American Water (NYSE:AWK), currently provides water and wastewater services to approximately 700,000 people throughout California. The parent company, American Water, serves more than 14 million people across regulated operations in 14 states and 18 military installations. With a market capitalization of $29.35 billion, AWK has maintained dividend payments for 18 consecutive years, currently offering a 2.28% yield. According to InvestingPro analysis, the stock trades at a P/E ratio of 26.13, suggesting a premium valuation relative to near-term earnings growth. Investors can access detailed valuation metrics and 8 additional exclusive ProTips through InvestingPro’s comprehensive research platform.
The company indicated that Bass Lake residents can find more information about the transition on a dedicated webpage on the California American Water website. For investors seeking deeper insights, InvestingPro offers a detailed research report on AWK, part of its coverage of over 1,400 US stocks, providing essential metrics and expert analysis for informed investment decisions.
In other recent news, American Water Works reported its Q2 2025 earnings, which showed mixed results. The company posted an earnings per share (EPS) of $1.48, slightly missing the analysts’ forecast of $1.51. On a positive note, American Water Works exceeded revenue expectations by reporting $1.28 billion, compared to the anticipated $1.21 billion. Additionally, the company announced the pricing of an underwritten offering of 7,042,254 shares of common stock at $142.00 per share. These shares are expected to be borrowed by forward purchasers from third parties and sold to underwriters as part of forward sale agreements. Wells Fargo Securities, J.P. Morgan, and Mizuho are acting as joint book-running managers for this offering. These developments are part of the company’s recent activities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.