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American Water Works meets 1Q profit forecasts

VOORHEES, N.J. (AP) _ American Water Works (AWK) on Wednesday reported first-quarter net income of $93 million.

The Voorhees, New Jersey-based company said it had profit of 52 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 52 cents per share.

The water utility posted revenue of $756 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $764.7 million.

American Water Works expects full-year earnings to be $2.98 to $3.08 per share.

American Water Works shares have increased slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $77.70, a climb of 5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AWK at https://www.zacks.com/ap/AWK


Keywords: American Water Works, Earnings Report