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American Water Works Q1 profit climbs 9.7% YOY

American Water Works Co. Inc. said its first-quarter normalized net income came to 43 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS rose 9.2% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $78.2 million, a gain of 9.7% from $71.3 million in the year-earlier period.

The normalized profit margin rose to 11.8% from 10.5% in the year-earlier period.

Total revenue climbed on an annual basis to $698.1 million from $679.0 million, and total operating expenses climbed from the prior-year period to $498.0 million from $491.8 million.

Reported net income rose 15.8% on an annual basis to $80.0 million, or 44 cents per share, from $69.1 million, or 39 cents per share.