Stock Monitor: Consolidated Water Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 11, 2018 / Active-Investors.com has just released a free earnings report on Aqua America, Inc. (NYSE: WTR). 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=WTR. Aqua America reported its first quarter fiscal 2018 operating and financial results on February 27, 2018. The water utility's earnings surpassed market expectations. Additionally, the Company provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Consolidated Water Co. Ltd (NASDAQ: CWCO), which also belongs to the Utilities sector as the Company Aqua America. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Aqua America 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=WTR
Earnings Highlights and Summary
Aqua America's revenues increased to $203.3 million in the fourth quarter 2017, up 3% compared to $196.8 million in Q4 2016. The Company's rates and surcharge revenue, consumption growth, regulated growth, and other factors increased revenue by $8.8 million. Lower revenue from market-based activities offset the increase by $2.3 million. Aqua America's reported numbers fell short of analysts' estimates of $204.7 million.
During Q4 2017, Aqua America's operations and maintenance expenses were $79.2 million compared to $77.6 million in Q4 2016. Reduced market-based activities and lower production costs decreased operations and maintenance expenses by $6.0 million, offset by increasing costs associated with employee-related expenses, regulated acquisitions, and other factors.
For Q4 2017, Aqua America reported net income of $53.5 million, or $0.30 per share, compared to $49.6 million, or $0.28 per share, in Q4 2016. The Company's reported results reflect the enactment of the Tax Cuts and Jobs Act which resulted in a non-cash charge to income tax expense of $3.1 million. Aqua America's adjusted earnings of $0.32 per share, beat Wall Street's estimates of $0.31 per share.
For full year 2017, Aqua America generated total operating revenues of $809.5 million compared to $819.9 million in FY16. The Company's regulated segment revenues increased to $804.9 million compared to $800.1 million in FY16. Rates and surcharges, regulated growth, and other items increased regulated revenue by approximately $14.4 million compared to FY16.
For FY17, Aqua America reported net income of $239.7 million, or $1.35 per share, compared to $234.2 million, or $1.32 per share, in FY16. The Tax Cuts and Jobs Act enactment in December 2017 resulted in a non-cash charge to income tax expense of $3.1 million.
Capital Expenditures
In FY17, Aqua America invested a record of $478 million to improve its infrastructure systems. The Company expects to invest approximately $500 million in FY18 and approximately $1.4 billion from 2018 to 2020.
Acquisition Growth in Regulated Operations
In FY17, Aqua America invested $5.9 million to acquire four water and wastewater systems. Acquisitions added approximately 1,000 new customers to the Company's operating footprint. Coupled with organic growth, Aqua America increased its customer base by 1% with 10,584 new customer connections. The Company currently has six purchase agreements with municipal systems, which are expected to close in 2018 and represent more than 16,000 new customers. Aqua America is projecting overall customer growth to be between 2 and 3% for FY18.
Outlook
For full year 2018, Aqua America is forecasting earnings per diluted common share of $1.37 to $1.42. The Company is expecting Infrastructure investments of approximately $500 million in 2018 for communities served by Aqua America and Infrastructure investments of approximately $1.4 billion through 2020 in existing operations to improve and strengthen systems.
Stock Performance Snapshot
April 10, 2018 - At Tuesday's closing bell, Aqua America's stock slightly dropped 0.38%, ending the trading session at $33.68.
Volume traded for the day: 401.47 thousand shares.
Stock performance in the last month - up 0.21%; and past twelve-month period - up 4.08%
After yesterday's close, Aqua America's market cap was at $6.04 billion.
Price to Earnings (P/E) ratio was at 24.71.
The stock has a dividend yield of 2.43%.
The stock is part of the Utilities sector, categorized under the Water Utilities industry.
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