What guidance did American States Water's management provide for the next earnings period?

What is the revenue and EPS growth rate for American States Water year over year?

What is American States Water's latest dividend and current dividend yield?

Did American States Water beat or miss consensus estimates last quarter?

What is American States Water's gross profit margin?

What does American States Water do and what are its main business segments?

What were the key takeaways from American States Water’s earnings call?

What factors drove the changes in American States Water's revenue and profit?

- **EPS Growth Driven by Regulation**: Q3 2025 EPS up 11.6% to $1.06, fueled by new water and electric rates and ASUS construction activity.
- **Infrastructure Investment**: $180-210M in 2025 utility investments, with long-term growth from 17,500-unit planned community.
- **ASUS Momentum**: $28.7M in new contracts through Q3, 2026 earnings guidance of $0.63-$0.67 per share.
- **Sustainability Recognition**: Named to Barron's 100 Most Sustainable Companies and America's Best Midsize Companies 2025.
- **Dividend Growth**: 8.3% Q3 dividend increase, maintaining >7% CAGR target.

**【CEO Opening Remarks】**
- Q3 2025 EPS increased by 11.6% YoY to $1.06, driven by regulatory rate approvals and higher ASUS construction activity.
- Water utility infrastructure investments of $180-210 million for 2025, with a new planned community expected to serve 17,500 dwelling units over 20+ years.
- ASUS awarded $28.7 million in new construction projects through Q3 2025, with 2026 earnings guidance of $0.63-$0.67 per share.
- Company recognized as one of America's Best Midsize Companies 2025 and Barron's 100 Most Sustainable Companies.

**【CFO Financial Commentary】**
- Q3 2025 consolidated revenue increased by $21 million YoY, with water segment up $8.3 million (new 2025 rates) and electric segment up $4.3 million (2025 rate adoption).
- Operating expenses rose $10.3 million due to wildfire mitigation costs and higher ASUS activity, partially offset by lower interest expense.
- Year-to-date 2025 net cash from operations reached $202 million, up 50% YoY, driven by rate changes and timing of military construction payments.
- Credit ratings reaffirmed at A (American States Water) and A+ (Golden State Water), among highest in U.S. investor-owned water utilities.

**【Q&A Highlights】**
- **ASUS Contract Timing**: CEO explained 2026 earnings guidance reflects transition period for new contracts, with $28.7 million of awarded projects to be completed through 2028.
- **Rate Base Growth**: CFO clarified 2025 rate base growth of $573 million includes $76 million of advice letter projects to be filed by end-2025, with full recovery in 2026 rates.
- **Sustainability & Dividends**: CEO emphasized commitment to sustainability rankings and dividend policy targeting >7% CAGR, with Q3 2025 dividend increase of 8.3%.


American States Water Company (AWR) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

AWR

AWR fundamentals

You can ask Aime