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American Water expects EPS from $2.35 to $2.45

Staff writer ▼ | December 18, 2013
American Water Works Company, Inc. announced its earnings guidance for 2014 as well as its expected earnings range for the year ending December 31, 2013.
American Water Works
American Water WorksAmerican Water Works Company, Inc. announced its earnings guidance for 2014 as well as its expected earnings range for the year ending December 31, 2013.


American Water estimates its 2014 ongoing earnings to be in the range of $2.35 to $2.45 per share.

"The 2014 guidance is based on the continued execution of our strategic goals. By focusing on delivering outstanding customer service, effectively managing costs, investing capital where needed, maintaining strong regulatory relationships and growing strategically, we will create value for all our stakeholders and achieve long-term success," said Jeff Sterba, president and CEO of American Water.

The company expects its 2013 adjusted earnings per share (EPS) to be in the range of $2.17 to $2.22 (a non-GAAP financial measure), based on the company's performance year-to-date. This adjusted EPS excludes an approximate $0.14 per share one-time charge related to the completed tender offer by American Water's finance subsidiary, American Water Capital Corp.

"We are pleased with our performance in 2013. Among the highlights this year is our success in growth with 15 acquisitions, including one of our largest wastewater acquisitions, to date. I would also point out our success in achieving a continuous improvement culture, which has led to successful innovation partnerships as well as achieving our O&M efficiency ratio target," said Mr. Sterba.


 

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