American Water Works Reports Income Gain From Adding Customers

American Water Works Co. (AWK), the largest publicly traded U.S. water company, said adding 22,000 customers boosted net income as quarterly revenue fell short of analysts’ estimates.

Net income rose 38 percent to about $58 million, or 32 cents a share, from a year earlier, the Voorhees, New Jersey- based company said in a statement today. Sales increased 2.8 percent to $636.1 million, compared with expectations of $649.1 million, the average of nine estimates compiled by Bloomberg.

American Water Works reiterated that it expects 2013 earnings per share to be in the range of $2.15 to $2.25.

The company said yesterday it was increasing its quarterly dividend 12 percent to 28 cents per share.

To contact the reporter on this story: Justin Doom in New York at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.