Aqua America Sees FY17 EPS In Line With View

(RTTNews) - Aqua America Inc. (WTR) announced its earnings guidance for 2017, and reaffirmed its guidance for the year ended December 31, 2016.

"Our confidence in our ability to deliver long-term value for our stakeholders is reflected in our 2017 guidance," said President and Chief Executive Officer of Aqua America Christopher Franklin.

For fiscal year 2017, the company expects earnings per common share of $1.34 to $1.39, same-system operations and maintenance expenses increase of 1 to 2 percent; Total customer growth of 1.5 to 2 percent. Analysts polled by Thomson Reuters expect the company to report earnings of $1.39 per share for fiscal year 2017. Analysts' estimates typically exclude special items.

The company anticipates more than $450 million in infrastructure improvements in 2017 for communities served by Aqua; more than $1.2 billion planned through 2019 in existing operations to improve and strengthen systems.

Aqua Pennsylvania is expected to file infrastructure investment charge in 2017 and rate case filing likely in 2018, with resolution expected in 2019.