We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
American States Water (AWR) Q4 Earnings & Revenues Beat Mark
Read MoreHide Full Article
American States Water Company (AWR - Free Report) reported fourth-quarter 2020 operating earnings of 54 cents per share, which surpassed the Zacks Consensus Estimate of 49 cents by 10.2%. Also, the bottom line improved 20% from the year-ago quarter’s earnings of 45 cents per share.
Total Revenues
Operating revenues of $124.2 million beat the Zacks Consensus Estimate of $116 million by 7.1%. Also, the top line improved 9.9% from $113 million in the prior-year quarter.
American States Water Company Price and EPS Surprise
In the quarter under review, American States Water’s total operating expenses were $94.9 million, up 7.5% year over year. This can primarily be attributed to increase in water purchased, power purchased for pumping and groundwater production assessment expenses.
Operating income was $29.3 million, up 18.4% year over year.
Interest expenses were $5 million, down 12.4% year over year. Also, interest income was $0.4 million, down from $0.6 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 32 cents per share, up from 28 cents in the prior-year quarter. This upside was mainly driven by a higher water gross margin, resulting from new rates authorized by the California Public Utilities Commission.
Earnings in the Electric segment of 7 cents per share were up from 5 cents in the year-ago quarter. The rise was owing to a higher electric gross margin along with lower operating and interest expenses.
Earnings in the Contracted Services segment were 17 cents per share, up from 12 cents in the year-ago quarter. This was led by ramped-up construction activity and a decline in operating expenses.
Financial Update
As of Dec 31, 2020, American States Water’s cash and cash equivalents were $36.7 million compared with $1.3 million as of Dec 31, 2019.
As of Dec 31, 2020, the company’s long-term debt was $440.3 million, up from $281 million as of Dec 31, 2019.
Zacks Rank
American States Water currently has a Zacks Rank #4 (Sell).
Essential Utilities Inc. (WTRG - Free Report) will post fourth-quarter 2020 earnings on Feb 24, 2021. The Zacks Consensus Estimate is pegged at 46 cents per share.
California Water Service Group (CWT - Free Report) will post fourth-quarter 2020 earnings on Feb 25, 2021. The Zacks Consensus Estimate is pegged at 35 cents per share.
American Water Works Company, Inc. (AWK - Free Report) will post fourth-quarter 2020 earnings on Feb 25, 2021. The Zacks Consensus Estimate is pegged at 80 cents per share.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
American States Water (AWR) Q4 Earnings & Revenues Beat Mark
American States Water Company (AWR - Free Report) reported fourth-quarter 2020 operating earnings of 54 cents per share, which surpassed the Zacks Consensus Estimate of 49 cents by 10.2%. Also, the bottom line improved 20% from the year-ago quarter’s earnings of 45 cents per share.
Total Revenues
Operating revenues of $124.2 million beat the Zacks Consensus Estimate of $116 million by 7.1%. Also, the top line improved 9.9% from $113 million in the prior-year quarter.
American States Water Company Price and EPS Surprise
American States Water Company price-eps-surprise | American States Water Company Quote
Operational Update
In the quarter under review, American States Water’s total operating expenses were $94.9 million, up 7.5% year over year. This can primarily be attributed to increase in water purchased, power purchased for pumping and groundwater production assessment expenses.
Operating income was $29.3 million, up 18.4% year over year.
Interest expenses were $5 million, down 12.4% year over year. Also, interest income was $0.4 million, down from $0.6 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 32 cents per share, up from 28 cents in the prior-year quarter. This upside was mainly driven by a higher water gross margin, resulting from new rates authorized by the California Public Utilities Commission.
Earnings in the Electric segment of 7 cents per share were up from 5 cents in the year-ago quarter. The rise was owing to a higher electric gross margin along with lower operating and interest expenses.
Earnings in the Contracted Services segment were 17 cents per share, up from 12 cents in the year-ago quarter. This was led by ramped-up construction activity and a decline in operating expenses.
Financial Update
As of Dec 31, 2020, American States Water’s cash and cash equivalents were $36.7 million compared with $1.3 million as of Dec 31, 2019.
As of Dec 31, 2020, the company’s long-term debt was $440.3 million, up from $281 million as of Dec 31, 2019.
Zacks Rank
American States Water currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Essential Utilities Inc. (WTRG - Free Report) will post fourth-quarter 2020 earnings on Feb 24, 2021. The Zacks Consensus Estimate is pegged at 46 cents per share.
California Water Service Group (CWT - Free Report) will post fourth-quarter 2020 earnings on Feb 25, 2021. The Zacks Consensus Estimate is pegged at 35 cents per share.
American Water Works Company, Inc. (AWK - Free Report) will post fourth-quarter 2020 earnings on Feb 25, 2021. The Zacks Consensus Estimate is pegged at 80 cents per share.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>