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American Water posts lower net income for 2017


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American Water posts lower net income for 2017

American Water Works Co. Inc. reported net income of $426 million for the year ending Dec. 31, 2017, a decrease from 2016's net income of $468 million, attributable to an after-tax re-measurement charge of $125 million stemming from the enactment of the new U.S. tax law.

Diluted EPS for the year ending Dec. 31, 2017 stood at $2.38, down from $2.62 in the previous year, whereas basic EPS fell to $2.39 for the current year compared to $2.63 in the prior year.

The U.S. water and wastewater utility said operating revenues for 2017 rose to $3.36 billion from 2016's $3.30 billion, mainly due to an increase worth $87 million in the company's regulated businesses as a result of authorized rate increases for funding infrastructure investment growth, organic growth and acquisitions.

Total operating expenses stood at $2.11 billion for the current year, down from $2.22 billion in the previous year.