American Water Works Co. Inc. said its normalized net income for the fourth quarter amounted to 84 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.
EPS rose 53.9% year over year from 55 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $149.4 million, an increase of 52.2% from $98.1 million in the year-earlier period.
The normalized profit margin increased to 18.6% from 12.5% in the year-earlier period.
Total revenue rose on an annual basis to $802.0 million from $783.0 million, and total operating expenses fell 12.5% from the prior-year period to $483.0 million from $552.0 million.
Reported net income rose from the prior-year period to $102.0 million, or 57 cents per share, from $99.0 million, or 55 cents per share.
For the year, the company's normalized net income totaled $2.93 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.85.
EPS rose from $2.70 in the prior year.
Normalized net income was $523.8 million, a gain from $486.9 million in the prior year.
Full-year total revenue grew from the prior-year period to $3.30 billion from $3.16 billion, and total operating expenses rose on an annual basis to $2.15 billion from $2.09 billion.
The company said reported net income declined on an annual basis to $469.0 million, or $2.62 per share, in the full year, from $475.2 million, or $2.64 per share.
