Stock Monitor: Artesian Resources Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 02, 2018 /
Active-Investors.com has just released a free earnings report on American Water Works Co., Inc. (NYSE: AWK). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AWK. American Water Works reported financial results on February 21, 2018 for the fourth quarter and full year ended December 31, 2017. The Company surpassed analysts' consensus estimates for earnings but missed their estimates for revenue in the fourth quarter of 2017 (Q4 FY17). Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Artesian Resources Corporation (NASDAQ: ARTNA), which also belongs to the Utilities sector as the Company American Water Works. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=ARTNA
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, American Water Works most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=AWK
Earnings Highlights and Summary
American Water Works' total operating revenues reached $821 million for Q4 FY17, up 2.37% from $802 million in Q4 FY16, mainly led by continued growth in the Regulated businesses. The reported revenue number missed analysts' consensus estimates of $835 million.
During Q4 FY17, American Water Works' total operating expenses were $542 million compared to $554 million in Q4 FY16, reflecting a decrease of 2.17%. The Company's operation and maintenance expenses decreased 1.34% to $368 million and depreciation and amortization (D&A) expenses fell 5% to $114 million in the reported quarter. American Water Works' operating income advanced 12.5% to $279 million in Q4 FY17 from $248 million in Q4 FY16.
Net loss attributable to common stockholders of American Water Works was $1 million for Q4 FY17 compared to a net income attributable to common stockholders of $101 million in Q4 FY16. The Company reported a diluted loss per share of $0.01 in the reported quarter, after diluted earnings per share of $0.57 in the year earlier comparable quarter. The reported quarter results included the estimated impact of $0.7 per share from the enactment of the Tax Cuts and Jobs Act (TCJA). The Company's diluted EPS, after adjusting for non-recurring items, increased 21.05% to $0.69 in Q4 FY17 from $0.57 in Q4 FY16. American Water Works' adjusted EPS was higher than analysts' consensus estimates of $0.66 per share.
For the year ending December 31, 2017, American Water Works' total revenues were $3.36 billion, up 1.67% from $3.3 billion in FY16. The Company's operating income advanced 15.19% to $1.24 billion y-o-y in FY17. Net income attributable to common stockholders was $426 million in FY17, 8.97% lower than $468 million in FY16. Diluted EPS also fell 9.16% to $2.38 in the reported year from $2.62 in the previous year. The reported earnings results included impact of Freedom Industries settlement activities, early extinguishment of debt at the parent Company, and TCJA. Diluted EPS for full year 2017, excluding special items was $3.03, up 6.69% from $2.84 in FY16. In fiscal 2017, the Company achieved the best ever O&M efficiency ratio (regulated businesses) of 33.8%. A lower O&M efficiency ratio allows the Company to make investments in needed capital improvements without significantly impacting customer bills.
American Water Works' Segment Details
During Q4 2017, the Regulated businesses' net income was $113 million, an increase of 15.31% y-o-y, driven mainly by infrastructure investment, acquisitions, and organic growth. This segment's adjusted net income jumped 21.43% to $119 million in the reported quarter from $98 million in the year-ago same quarter.
For Q4 FY17, Market-Based Businesses' net income was $9 million, 30.77% lower than previous-year's same quarter. The market-based Businesses' adjusted net income advanced 7.69% to $14 million in Q4 FY17 from $13 million in Q4 FY16, driven by growth in the Homeowner Services Group through customer growth and price increases for certain customers.
Cash Matters
American Water Works had cash and cash equivalents of $55 million as on December 31, 2017, a decrease of 26.67% from $75 million as on December 31, 2016. The Company's total long-term debt increased 12.83% to $6.5 billion as on December 31, 2017, from $5.76 billion as on December 31, 2016.
On December 08, 2017, American Water Works' Board of Directors declared a quarterly cash dividend of $0.415 per share payable on March 01, 2018, to stockholders of record as of February 07, 2018.
Outlook
American Water Works expects its 2018 earnings to be in the range of $3.22 to $3.32 per diluted share, and long-term EPS compound annual growth rate (CAGR) to be in the range of 7% to 10%. Besides, the Company expects its 2018 dividend growth rate to be at top end of long-term EPS CAGR range. American Water Works intends to invest between $8.0 billion to $8.6 billion over the next five years.
Stock Performance Snapshot
March 29, 2018 - At Thursday's closing bell, American Water Works' stock rose 1.16%, ending the trading session at $82.13.
Volume traded for the day: 1.04 million shares.
Stock performance in the last month - up 3.49%; previous six-month period - up 1.40%; and past twelve-month period - up 6.43%
After last Thursday's close, American Water Works' market cap was at $14.62 billion.
Price to Earnings (P/E) ratio was at 26.65.
The stock has a dividend yield of 2.02%.
The stock is part of the Utilities sector, categorized under the Water Utilities industry. This sector was up 0.6% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
