American States Water Co

AWR

Equity

ISIN US0298991011 / Valor 905513

New York Stock Exchange, Inc (2024-12-26)

USD 78.63+0.36%

American States Water Co
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About company

American States Water Company operates as a diversified utility company, primarily engaged in the provision of water, electric services, and contracted services across the United States. It serves over one million people through its subsidiaries, which include Golden State Water Company, Bear Valley Electric Service, Inc., and American States Utility Services, Inc. Golden State Water Company, its water utility arm, supplies water to around 264,100 customer connections in over 80 communities across Northern, Coastal, and Southern California. Bear Valley Electric Service, Inc., the company's electric utility subsidiary, delivers electricity to about 24,800 customer connections in the City of Big Bear Lake and its surrounding areas in San Bernardino County, California. Additionally, through American States Utility Services, Inc., it offers operations, maintenance, and construction management services for water and wastewater facilities on 12 military bases under 50-year privatization contracts with the U.S. government. A notable aspect of American States Water Company's financial performance is its consistent dividend payments to shareholders since 1931, with an increase in dividends for 69 consecutive years, marking it as a distinguished member of the New York Stock Exchange for this achievement.

Summarized from source with an LLMView SourceSector: Energy

Second Quarter 2024 Earnings

American States Water Co. reported basic and fully diluted earnings per share of $0.85 for the second quarter of 2024, compared to $1.04 per share for the same period in 2023. This decrease of $0.19 per share includes the impact of approximately $0.18 per share from the reversal of previously recorded estimated revenues subject to refund due to a final cost of capital decision in June 2023.

Water Segment Performance

For the second quarter of 2024, American States Water Co.'s water utility segment recorded diluted earnings of $0.67 per share, down from $0.91 per share in the same quarter of 2023. Adjusted diluted earnings for the water segment were $0.67 per share in Q2 2024, compared to $0.73 per share in Q2 2023, reflecting a decrease of $0.06 per share.

Electric Segment Results

Diluted earnings from American States Water Co.'s electric utility segment decreased by $0.02 per share for the second quarter of 2024 compared to the same period in 2023. This decline was primarily due to the absence of new rates while awaiting the processing of the pending electric general rate case, coupled with rising operating expenses and interest costs.

Contracted Services Growth

American States Water Co.'s contracted services segment saw an increase in diluted earnings by $0.07 per share for the second quarter of 2024 compared to Q2 2023. This growth was driven by higher management fee revenue from new military base operations and increased construction activity, despite a rise in operating expenses.

Dividend Increase

American States Water Co. announced an 8.3% increase in its quarterly dividend, with the first payment scheduled for September 3, 2024. This marks the 70th consecutive year that the company has increased its annual dividends to shareholders, reflecting its commitment to returning value to investors.

Summarized from source with an LLMView Source

Key figures

-3.84%1Y

-21.6%3Y

-9.04%5Y

Performance

20.3%1Y

23.8%3Y

30.3%5Y

Volatility