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American Water Works Says 2012’s Results Affected by Hurricane
Jan. 25 (Bloomberg) — American Water Works Co., the largest publicly traded U.S. water company, said 2012 earnings from continuing operations would be at the low end of a previously announced range when results are released tomorrow.
Fourth-quarter results were impacted by Hurricane Sandy and a decline in the volume of water sold, and accelerated wastewater and water infrastructure upgrades, the Voorhees, New Jersey-based company said yesterday in a statement.
American Water Works said it sees 2013 earnings per share for continuing operations at $2.15 to $2.25, and 2012 EPS from continuing operations to be at the low end of the $2.12 to $2.22 range announced in November.
The company also said the California Public Utilities Commission approved its California unit’s acquisition of the Garrapata Water System south of the Carmel Highlands in Monterey County. No terms were given.
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