Welcome to our dedicated page for American States Water Company news (Ticker: AWR), a resource for investors and traders seeking the latest updates and insights on American States Water Company stock.
American States Water Company (AWR) is a distinguished utility services provider based in California. As the parent company of both Golden State Water Company (GSWC) and American States Utility Services, Inc. (ASUS), AWR plays a pivotal role in delivering essential utilities to communities across the state and beyond. GSWC offers water services to approximately 258,000 customers spread over 75 communities in 10 counties across Northern, Coastal, and Southern California. Additionally, Bear Valley Electric Services (BVES), a division of GSWC, supplies electricity to around 24,000 customers in the Big Bear area of San Bernardino County.
Through American States Utility Services, Inc. (ASUS), AWR extends its expertise to water and wastewater system management on military bases across the United States. These services are rendered under long-term 50-year privatization contracts with the U.S. government, emphasizing the company's dedication to reliable and sustainable utility management.
Founded with a commitment to reliability, AWR has consistently paid dividends to shareholders annually since 1931, showcasing a robust financial foundation. The company's operations are organized into three main segments: water, electric, and contracted services. The majority of revenue is generated from water services provided to both commercial and residential customers.
Golden State Water operates under the regulation of the California Public Utilities Commission, ensuring compliance and quality in their service delivery. Meanwhile, American States Utility Services continues to fulfill its contracts with the U.S. government, providing essential services to various military installations.
For investors and stakeholders looking for the latest updates and relevant information on AWR’s performance, current projects, and financial health, this page serves as a comprehensive resource. Stay informed with the latest news and developments about American States Water Company.
American States Water Company (NYSE:AWR) announced on April 13, 2023 that its subsidiary, Golden State Water Company (GSWC), received a proposed decision from the California Public Utilities Commission (CPUC) regarding new water rates for 2022-2024. The final decision is anticipated in Q2 2023, with retroactive rates effective from January 1, 2022. This will notably impact 2023 first quarter results. The approved settlement allows GSWC to invest $404.8 million in infrastructure improvements for safe water services. It also includes provisions for potential revenue increases in 2023 and 2024, subject to inflation adjustments. Additionally, GSWC's requests for medical insurance and general liability cost balancing accounts were approved, but the consolidation of two customer service areas was denied. A conference call to discuss the results is scheduled for May 11, 2023.
American States Water Company (NYSE:AWR) reported a decrease in fourth quarter 2022 diluted earnings per share (EPS) to $0.50, down $0.05 from $0.55 in Q4 2021. Full year 2022 EPS fell by $0.44 to $2.11 compared to $2.55 in 2021. The decline is attributed to 2021 water rates still in effect due to delays from the California Public Utilities Commission. Had new rates been approved, EPS could have been $0.38 higher. Additionally, lower investment gains impacted earnings, reflecting a loss of $5.2 million in 2022 versus gains of $4.3 million in 2021, resulting in an effective tax rate drop that slightly benefited net earnings.
American States Water Company (NYSE:AWR) announced its plans to release the financial results for the fourth quarter and full year ending December 31, 2022, after market close on March 1, 2023. A conference call will be held at 2:00 p.m. Eastern Time on March 2, 2023, hosted by CEO Robert Sprowls and CFO Eva Tang, where they will discuss the results and answer questions. The call can be accessed live via www.aswater.com and will be archived for replay from March 2 at 5:00 p.m. through March 9, 2023. American States Water has a long-standing history of paying dividends, maintaining a record of increases for 68 consecutive years.
American States Water Company (NYSE:AWR) has appointed Thomas A. Eichelberger as a director effective
On
American States Water Company (NYSE:AWR) reported a decrease in third quarter consolidated diluted earnings per share (EPS) of $0.07, totaling $0.69, compared to $0.76 in 2021. This decline is attributed to $1.3 million in investment losses, equating to $0.03 per share. Additionally, water revenues were based on outdated 2021 rates pending approval from the CPUC. If approved, new rates retroactive to January 1, 2022, would result in an estimated revenue increase of $8.7 million. Adjusted EPS for the quarter would have been $0.82, reflecting a 7.9% increase year-over-year.
On November 1, 2022, American States Water Company (NYSE:AWR) announced a quarterly dividend of $0.3975 per share, marking the 346th consecutive dividend payment. The company has increased its annual dividend for 68 years, boasting a 9.2% compound annual growth rate in dividends from 2012 to 2022. The current dividend policy aims for over 7% growth long-term. Dividends will be payable on December 1, 2022, to shareholders on record as of November 15, 2022.
American States Water Company (NYSE:AWR) will release its third quarter financial results for the period ended September 30, 2022, after the market closes on November 7, 2022. A conference call to discuss these results will occur on November 8, 2022, at 2:00 p.m. Eastern Time, featuring CEO Robert Sprowls and CFO Eva Tang. Interested parties can listen live and access slides via www.aswater.com. The call will be archived for replay from November 8 at 5:00 p.m. ET until November 15, 2022.
American States Water Company (NYSE:AWR) announced the signing of Senate Bill 1469 by California Governor Gavin Newsom on September 30, 2022. Effective January 1, 2023, this legislation supports water conservation as California faces its driest period in 1,200 years. It allows utilities like Golden State Water Company to utilize the Water Revenue Adjustment Mechanism (WRAM) in their next rate case, aimed at promoting water conservation. Since WRAM's implementation in 2008, the company has successfully decreased water usage per customer by 32%.
American States Water Company (NYSE:AWR) reported a decrease in diluted EPS to $0.54 for Q2 2022, down from $0.72 in Q2 2021, reflecting a $0.18 drop partly due to $3.5 million investment losses. The company awaits approval from the CPUC for new water rates retroactive to January 1, 2022, which could boost earnings by $0.10 per share. The board has also approved an 8.9% dividend increase effective September 1, 2022. Adjusted EPS stood at $0.71, a slight increase from $0.69 in 2021, highlighting underlying business stability despite external pressures.
FAQ
What is the current stock price of American States Water Company (AWR)?
What is the market cap of American States Water Company (AWR)?
What services does American States Water Company (AWR) provide?
Who are the subsidiaries of American States Water Company?
How many customers does Golden State Water Company serve?
What is Bear Valley Electric Services (BVES)?
How does American States Utility Services (ASUS) operate?
Where is American States Water Company located?
When was American States Water Company founded?
What regulatory body oversees Golden State Water Company's operations?
What are the main segments of AWR's business?
Where can I find the latest news about American States Water Company?
