CAMDEN, N.J. (AP) _ American Water Works (AWK) on Wednesday reported first-quarter profit of $124 million.
The Camden, New Jersey-based company said it had profit of 68 cents per share. Earnings, adjusted for non-recurring gains, were 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The water utility posted revenue of $844 million in the period.
American Water Works expects full-year earnings in the range of $3.79 to $3.89 per share.
American Water Works shares have decreased 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $117.78, an increase of nearly 10% in the last 12 months.