American Water Q2 Profit Rises, But Revenue Misses Street View
WASHINGTON (dpa-AFX) - American Water Works Company, Inc (AWK) Monday reported an increase in profit for the second quarter. Earnings for the quarter trumped Street estimates, while revenue failed to meet expectations.
Profit for the quarter was $207 million or $1.14 per share, up from $176 million or $0.97 per share in the same quarter last year. Nine analysts polled by Thomson Reuters expected earnings of $1.09 for the quarter.
Operating revenue increased to $999 million from $931 million in 2020, but still missed Street view of $1.01 billion. Revenue growth was driven by weather that drove up the demand for water, the company said.