American Water takes USD750m hit in Q1
- From: Vol 9, Issue 5 (May 2008)
- Category: General
- Region: Americas
- Country: United States
- Related Companies: (RWE) Rhein Ruhr Partners , American Water and Aqua America
RWE has been forced to inject USD245 million into American Water after the April IPO fell short of expectations. The goodwill from RWE’s 2003 acquisition is still burning a hole in American’s balance sheet.
Don Correll and Ellen Wolf hosted one of the loneliest earnings calls of their careers on 14 May, as they presented American Water’s first quarter results. It wasn’t that no-one was listening the company had simply not yet emerged from the 25-day quiet period which followed the pricing of its IPO on 23 April. This meant that the ...
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