American Water Works: Q2 Earnings Snapshot

CAMDEN, N.J. (AP) — CAMDEN, N.J. (AP) — American Water Works (AWK) on Wednesday reported second-quarter net income of $280 million.

The Camden, New Jersey-based company said it had net income of $1.44 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The water utility posted revenue of $1.1 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $975.4 million.

American Water Works expects full-year earnings to be $4.72 to $4.82 per share.

American Water Works shares have dropped 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $147.78, a drop of nearly 2% 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