Aqua America, Inc. Price, Consensus and EPS Surprise
Aqua America, Inc. price-consensus-eps-surprise-chart | Aqua America, Inc. Quote
Highlights of the ReleaseThe company continues to expand its operation through acquisitions. Courtesy of its water and wastewater acquisition, the company is on track to expand its customer base by 2-3% in 2019.
Operation and maintenance expenses increased nearly 17.7% year over year to $86.5 million.
Interest expenses were $23.3 million, marginally lower than $23.7 million in the year-ago quarter.
Year-to-date rate increase in 2019 will raise annual revenues of the company by $10.5 million. The pending rate case when approved could increase revenues by $2.3 million.
Financial HighlightsCurrent assets were $2,117.9 million as of Jun 30, 2019 compared with $147.1 million on Dec 31, 2018.
Long-term debt was $2,749.2 million as of Jun 30, 2019, higher than $2,398.5 million on Dec 31, 2018.
During the first half of 2019, the company invested $269.2 million to strengthen its water and wastewater infrastructure.
GuidanceAqua America reiterated its 2019 adjusted net earnings guidance within the $1.45-$1.50 per share range.
It expects customer base to expand 2-3% in 2019. The company plans to invest $550 million during the year. This is part of its investment plan of nearly $1.4 billion through 2021.
Water Utility ReleasesAmerican Water Works Company (NYSE:) posted second-quarter 2019 earnings of 94 cents per share, in line with the Zacks Consensus Estimate.
American States Water Company (NYSE:) reported second-quarter 2019 operating earnings of 64 cents per share, which surpassed the Zacks Consensus Estimate of 52 cents by 23%.
Middlesex Water (NASDAQ:) came out with quarterly earnings of 49 cents per share, lagging the Zacks Consensus Estimate of 55 cents per share by 10.91%.
Zacks RankCurrently, Aqua America carries a Zacks Rank #4 (Sell).
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