American Water Works offers 2013 guidance
American Water Works offers 2013 guidance, says 2012 earnings will be at low end of range
VOORHEES, N.J. (AP) -- Water and wastewater utility American Water Works Co. Inc. said Thursday that it expects to earn $2.15 to $2.25 per share this year, a range roughly in line with Wall Street forecasts.
The Voorhees, N.J., company also said in a statement that last year's earnings from continuing operations would be at the low end of a previously announced range of $2.12 to $2.22 per share.
The 2012 earnings estimate is before the company makes a $7 million donation to the American Water Charitable Foundation, the company said.
Analysts surveyed by data provider FactSet are expecting 2013 income of $2.21 per share and $2.17 per share for last year.
American Water Works is scheduled to release its fourth-quarter and full-year earnings for last year on Feb. 26.
Company CEO Jeff Sterba said in a statement that the 2013 guidance is based on execution of company goals. The 2012 earnings estimate includes 13 cents to 16 cents per share due to unseasonably hot and dry summer weather in the East and Midwest, he said. Fourth-quarter earnings were affected by accelerated infrastructure maintenance and a drop in water sold due to Hurricane Sandy.
Shares of American Water fell $1, or 2.6 percent, to $37.59 in trading after the markets closed on Thursday.
