CAMDEN, N.J. (AP) — CAMDEN, N.J. (AP) — American Water Works (AWK) on Wednesday reported first-quarter profit of $205 million.
On a per-share basis, the Camden, New Jersey-based company said it had net income of $1.05.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The water utility posted revenue of $1.14 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.03 billion.
American Water Works expects full-year earnings to be $5.65 to $5.75 per share.
American Water Works shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $147.01, an increase of 20% in the last 12 months.
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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
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