American States Water Company AWR reported third-quarter 2019 operating earnings of 69 cents per share, which missed the Zacks Consensus Estimate of 72 cents by 4.2%. The bottom line surged 11.3% from 62 cents registered in the year-ago quarter. Earnings during the quarter benefited from new rates introduced in the service territories of Golden State Water Company.
Operating revenues amounted to $134.5 million, which outpaced the Zacks Consensus Estimate of $131 million by 2.7%. The top line also increased 8.3% from $124.2 million in the prior-year quarter. The upside can be primarily attributed to higher revenues in the Water and Electric segments.
In the quarter under review, American States Water’s total operating expenses were $91.8 million, up 1.7% year over year.
Operating income totaled $42.7 million, up 25.8% on a year-over-year basis.
Interest expenses were $6.3 million, up 5.6% year over year. Also, interest income totaled $0.8 million, up 29% year on year.
American States Water Company Price, Consensus and EPS Surprise
American States Water Company price-consensus-eps-surprise-chart | American States Water Company Quote
Earnings in the Water segment amounted to 53 cents, up from 47 cents in the prior-year quarter.
Earnings in the Electric segment came in at 3 cents, up from 2 cents in the year-ago quarter.
Earnings in the Contracted Services segment totaled 12 cents, down from 13 cents in the year-ago quarter.
Earnings in the AWR (parent) segment came in at 1 cent.
As of Sep 30, 2019, American States Water’s cash and cash equivalents were $10.4 million compared with $7.1 million as of Dec 31, 2018.
As of Sep 30, the company’s long-term debts were $281 million, down from $281.1 million debt as of Dec 31, 2018.
American States Water carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Water Works Company AWK posted third-quarter 2019 earnings of $1.33 per share, surpassing the Zacks Consensus Estimate of $1.29 by 3.1%.
California Water Service Group CWT posted third-quarter 2019 earnings of 88 cents per share, beating the Zacks Consensus Estimate of 78 cents by 12.8%.
Middlesex Water MSEX posted third-quarter 2019 earnings of 66 cents per share, missing the Zacks Consensus Estimate of 72 cents.
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