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American Water Works Q3 profit climbs 8.8% YOY


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American Water Works Q3 profit climbs 8.8% YOY

American Water Works Co. Inc. said its third-quarter normalized net income was 99 cents per share, compared with the S&P Capital IQ consensus estimate of 94 cents per share.

EPS climbed 8.5% year over year from 92 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $179.3 million, an increase of 8.8% from $164.8 million in the year-earlier period.

The normalized profit margin increased to 20.0% from 19.5% in the year-earlier period.

Total revenue grew 5.9% on an annual basis to $896.2 million from $846.2 million, and total operating expenses rose 5.1% year over year to $535.1 million from $508.9 million.

Reported net income grew 11.0% from the prior-year period to $173.9 million, or 96 cents per share, from $156.6 million, or 87 cents per share.