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American Water Q2 adjusted earnings increase YOY, beat estimates

American Water Works Co. Inc. on July 31 reported second-quarter 2019 adjusted earnings of $156 million, 94 cents per share, improving from $152 million, or 83 cents per share, in the comparable quarter of 2018.

The S&P Global Market Intelligence consensus normalized estimate for the quarter was 91 cents per share.

On a GAAP basis, net income attributable to common shareholders was $170 million, or 94 cents per share, up from $162 million, or 91 cents per share, in the year-ago period.

Operating revenues totaled $882 million, improving from $853 million in the year-ago quarter. Operating income was unchanged at $302 million.

American Water continues to target full-year 2019 adjusted earnings of $3.54 per share to $3.64 per share.