American Water Posts Higher Q2 Profit

(RTTNews) - American Water Works Company, Inc. (AWK) reported net income for the second quarter of $109.3 million or $0.61 per share, compared to $101.3 million or $0.57 per share for the year-ago quarter.

Excluding the one-time impact of the Freedom Industries chemical spill in West Virginia, the company's adjusted net income for the second quarter $112.3 million or $0.63 per share, compared to weather normalized adjusted net income of $104.2 million or $0.58 per share in the same quarter last year.

Operating revenues for the second quarter rose 4.8% to $759.16 million from $724.27 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.64 per share on revenue of $780.41 million for the second quarter. Analysts' estimates typically exclude special items.

The company affirmed its annual earnings guidance to be in the range of $2.35 to $2.45 per share, with performance trending toward the upper end of the range, assuming normal weather patterns for August through the remainder of the year and excluding the impact of the Freedom Industries chemical spill in West Virginia. Analysts currently expect the company to earn $2.42 per share for the full year 2014.