American Water Works Q1 Profit Tops View - Quick Facts

(RTTNews) - American Water Works Company, Inc. (AWK) said Tuesday its first-quarter net income was $68.1 million or $0.38 per share, compare to $57.6 million or $0.32 per share a year ago.

On average, thirteen analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the latest first quarter advanced to $681.95 million from $636.14 million in the corresponding quarter last year. Ten analysts had a consensus revenue estimate of $670.13 million for the quarter.

For 2014, American Water Works continues to expect earnings in the range of $2.35 per share to $2.45 per share. This excludes the impact of the Freedom Industries chemical spill in West Virginia, which was $0.02 per share through March 31, 2014. Eighteen analysts currently expect earnings of $2.41 per share for the year.

On April 29, 2014, in recognition of the company's performance, the board of directors increased its quarterly cash dividend payment from $0.28 per common share to $0.31 per common share, an approximate 11 percent increase, payable on June 2, 2014, to all shareholders of record as of May 12, 2014.