American Water Works (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility, reported robust fourth-quarter 2023 results on Wednesday after the closing bell.

Shares gained 3.1% on Thursday, though they declined 1.2% on Friday. Thursday's upward move was likely in part attributable to the company easily exceeding Wall Street's revenue and earnings estimates. But a good chunk of Thursday's gain and all of Friday's drop were probably due to overall market dynamics, as major indexes rose on Thursday and fell the next day.

Data source: American Water Works. GAAP = generally accepted accounting principles.

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Source Fool.com