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American Water Works Q1 profit climbs 7.4% YOY

American Water Works Co. Inc. said its normalized net income for the first quarter amounted to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS increased 7.4% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $90.6 million, a gain of 7.4% from $84.4 million in the prior-year period.

The normalized profit margin rose to 12.0% from 11.4% in the year-earlier period.

Total revenue climbed on an annual basis to $756.0 million from $743.0 million, and total operating expenses totaled $529.0 million, compared with $530.0 million in the year-earlier period.

Reported net income grew 13.0% year over year to $93.1 million, or 52 cents per share, from $82.3 million, or 46 cents per share.