BRYN MAWR, Pa. (AP) _ Aqua America Inc. (WTR) on Tuesday reported second-quarter earnings of $54.9 million.
On a per-share basis, the Bryn Mawr, Pennsylvania-based company said it had profit of 25 cents. Earnings, adjusted for non-recurring costs, were 37 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The water utility posted revenue of $218.9 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $225.1 million.
Aqua America expects full-year earnings in the range of $1.45 to $1.50 per share.
Aqua America shares have risen 20% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.14, an increase of 10% in the last 12 months.