American Water Works: 2Q Earnings Snapshot
VOORHEES, N.J. (AP) _ American Water Works (AWK) on Wednesday reported second-quarter profit of $162 million.
On a per-share basis, the Voorhees, New Jersey-based company said it had profit of 91 cents. Earnings, adjusted for non-recurring gains, came to 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The water utility posted revenue of $853 million in the period.
American Water Works expects full-year earnings in the range of $3.22 to $3.32 per share.
American Water Works shares have decreased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $86.66, a climb of 6.5 percent in the last 12 months.