American Water Works (AWK) Reports In-Line Q1 EPS; Affirms Outlook

American Water Works (NYSE: AWK) reported Q1 EPS of $0.46, in-line with the analyst estimate of $0.46. Revenue for the quarter came in at $743 million versus the consensus estimate of $727.29 million.

“Our first quarter results demonstrate that American Water employees continue to grow our business by focusing on our customers and communities,” said Susan Story, president and CEO of American Water. “Our results were solid, with first quarter 2016 earnings per diluted share up 4.5 percent compared to last year. Reflecting the company’s solid performance, the board of directors approved a 10.3 percent increase in our quarterly dividend to 37.5 cents per share, marking the fourth year in a row for double-digit dividend increases.

“The Regulated Businesses had a particularly strong quarter, with net income up 7.4 percent compared to last year. And our recently announced agreement to acquire the Scranton Sewer Authority’s wastewater system, which we are seeking to close by Sept. 30, 2016, will add another 31,000 customers to American Water’s regulated service areas. At the same time, we continued to make improvements in O&M efficiency, allowing us to keep our services affordable,” added Story.

GUIDANCE:

American Water Works affters FY2016 EPS of $2.75-$2.85, versus the consensus of $2.82.

For earnings history and earnings-related data on American Water Works (AWK) click here.

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