WASHINGTON (dpa-AFX) - American Water Works Company, Inc. (AWK) affirmed the company's 2020 earnings per share guidance of $3.79 to $3.89. The company said its remains confident in its ability to achieve 7 to 10% growth in long-term earnings per share.
'We plan to make $8.8 billion to $9.4 billion of needed investment over the next five years, and between $20 billion to $22 billion over the next ten years,' said Susan Story, CEO.
Fourth-quarter adjusted earnings per share was $0.73, compared to $0.69, prior year. The company said these results were driven by solid growth in both the Regulated Businesses and Market-Based Businesses partially offset by higher interest expense supporting growth in the business at the parent. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.73, for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter operating revenues increased to $902 million from $850 million, a year ago. Analysts expected revenue of $923.86 million for the quarter.
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