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 Q3 Earnings Miss Estimates, Revenues Rise Y/Y
Read MoreHide Full Article
American States Water Company (AWR - Free Report) reported third-quarter 2024 operating earnings per share (EPS) of 95 cents, which lagged the Zacks Consensus Estimate of 99 cents by 4%.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
AWR’s Total Revenues
Operating revenues came in at $161.8 million, which outpaced the Zacks Consensus Estimate of $161 million by 0.5%. The top line also rose 6.6% from $151.7 million reported in the prior-year period.
American States Water Company Price, Consensus and EPS Surprise
Operating expenses in the quarter totaled $106.7 million, up 6.8% from the year-ago quarter’s $99.9 million. This was due to higher water purchased for pumping expenses, administrative and general costs and other operation costs.
The operating income totaled $55.1 million, up 6.4% from $51.8 million recorded in the corresponding period of 2023.
Interest expenses amounted to $13.2 million, up 13.1% year over year. Interest income totaled $1.7 million, down 18.2% year over year.
AWR’s Segmental Details
Earnings from the Water segment came in at 84 cents per share, up 16.7% from 72 cents a year ago.
EPS from the Electric segment was 2 cents, down by 2 cents from the year-ago quarter’s level.
EPS from the Contracted Services segment was 11 cents, down 8.3% year over year.
The loss from AWR (Parent) was 2 cents per share, in line with the year-ago quarter’s loss.
AWR’s Financial Update
As of Sept. 30, AWR’s cash and cash equivalents totaled $16.5 million compared with $14.1 million as of Dec. 31, 2023.
As of Sept. 30, the company’s long-term debt was $640.2 million compared with $575.6 million as of Dec. 31, 2023.
In the first nine months of 2024, cash provided by operating activities totaled $134.2 million compared with $56.5 million in the year-ago period.
Essential Utilities Inc. (WTRG - Free Report) delivered a third-quarter 2024 operating EPS of 25 cents, which beat the Zacks Consensus Estimate of 23 cents by 8.7%.
Operating revenues of $435 million surpassed the Zacks Consensus Estimate of $420 million by 3.8%. Total revenues were up 5.8% year over year.
California Water Service Group (CWT - Free Report) recorded third-quarter 2024 adjusted earnings of $1.03 per share, which lagged the Zacks Consensus Estimate of $1.09 per share by 5.5%. However, the bottom line increased from the year-ago quarter’s figure of 60 cents.
Operating revenues totaled $299.6 million, which surpassed the Zacks Consensus Estimate of $269 million by 11.6%. The top line also increased 17.5% from $255 million recorded in the prior-year quarter.
American Water Works Company (AWK - Free Report) posted a third-quarter 2024 operating EPS of $1.80, which lagged the Zacks Consensus Estimate of $1.84 by 2.2%. The bottom line improved 8.4% from the year-ago quarter's $1.66.
Total quarterly revenues of $1.32 billion surpassed the Zacks Consensus Estimate of $1.2 billion by 9.8%. The top line also increased 13.4% from the year-ago figure of $1.16 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
American States Water Q3 Earnings Miss Estimates, Revenues Rise Y/Y
American States Water Company (AWR - Free Report) reported third-quarter 2024 operating earnings per share (EPS) of 95 cents, which lagged the Zacks Consensus Estimate of 99 cents by 4%.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
AWR’s Total Revenues
Operating revenues came in at $161.8 million, which outpaced the Zacks Consensus Estimate of $161 million by 0.5%. The top line also rose 6.6% from $151.7 million reported in the prior-year period.
American States Water Company Price, Consensus and EPS Surprise
American States Water Company price-consensus-eps-surprise-chart | American States Water Company Quote
Highlights of AWR’s Release
Operating expenses in the quarter totaled $106.7 million, up 6.8% from the year-ago quarter’s $99.9 million. This was due to higher water purchased for pumping expenses, administrative and general costs and other operation costs.
The operating income totaled $55.1 million, up 6.4% from $51.8 million recorded in the corresponding period of 2023.
Interest expenses amounted to $13.2 million, up 13.1% year over year. Interest income totaled $1.7 million, down 18.2% year over year.
AWR’s Segmental Details
Earnings from the Water segment came in at 84 cents per share, up 16.7% from 72 cents a year ago.
EPS from the Electric segment was 2 cents, down by 2 cents from the year-ago quarter’s level.
EPS from the Contracted Services segment was 11 cents, down 8.3% year over year.
The loss from AWR (Parent) was 2 cents per share, in line with the year-ago quarter’s loss.
AWR’s Financial Update
As of Sept. 30, AWR’s cash and cash equivalents totaled $16.5 million compared with $14.1 million as of Dec. 31, 2023.
As of Sept. 30, the company’s long-term debt was $640.2 million compared with $575.6 million as of Dec. 31, 2023.
In the first nine months of 2024, cash provided by operating activities totaled $134.2 million compared with $56.5 million in the year-ago period.
AWR’s Zacks Rank
American States Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Essential Utilities Inc. (WTRG - Free Report) delivered a third-quarter 2024 operating EPS of 25 cents, which beat the Zacks Consensus Estimate of 23 cents by 8.7%.
Operating revenues of $435 million surpassed the Zacks Consensus Estimate of $420 million by 3.8%. Total revenues were up 5.8% year over year.
California Water Service Group (CWT - Free Report) recorded third-quarter 2024 adjusted earnings of $1.03 per share, which lagged the Zacks Consensus Estimate of $1.09 per share by 5.5%. However, the bottom line increased from the year-ago quarter’s figure of 60 cents.
Operating revenues totaled $299.6 million, which surpassed the Zacks Consensus Estimate of $269 million by 11.6%. The top line also increased 17.5% from $255 million recorded in the prior-year quarter.
American Water Works Company (AWK - Free Report) posted a third-quarter 2024 operating EPS of $1.80, which lagged the Zacks Consensus Estimate of $1.84 by 2.2%. The bottom line improved 8.4% from the year-ago quarter's $1.66.
Total quarterly revenues of $1.32 billion surpassed the Zacks Consensus Estimate of $1.2 billion by 9.8%. The top line also increased 13.4% from the year-ago figure of $1.16 billion.