Aqua America: 2Q Earnings Snapshot
Aug. 02, 2018
BRYN MAWR, Pa. (AP) _ Aqua America Inc. (WTR) on Wednesday reported second-quarter net income of $66.6 million.
The Bryn Mawr, Pennsylvania-based company said it had net income of 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The water utility posted revenue of $211.9 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $215.9 million.
Aqua America expects full-year earnings to be $1.37 to $1.42 per share.
Aqua America shares have decreased 7.5 percent since the beginning of the year. The stock has risen almost 8 percent in the last 12 months.