American Water Companies Rise, Buoyed by Fourth-Quarter ResultsRandall Hackley
American Water Works Co., the largest publicly traded water utility in the U.S., and smaller competitors American States Water Co. and California Water Service rose today after reporting higher fourth-quarter profit.
American Water’s net income gained 7.6 percent to $59.7 million compared with the year-earlier period, the Voorhees, New Jersey-based company said in a statement. American States, the San Dimas, California-based parent of Golden State Water Co. and American States Utility Services Inc., reported profit climbed almost 15 percent in the quarter to $11.8 million from a year ago. San Jose-based California Water said fourth-quarter net income increased 13 percent to $5.7 million from a year earlier.
Shares of the three each advanced in New York trading after the results were published late yesterday, with American States leading the gains, rising as much as 3.7 percent to a two-month high.