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Overview of American States Water Co (AWR)
American States Water Company is a California-based, diversified utilities holding company that specializes in water, electric, and contracted service operations. As the parent company of Golden State Water Company and American States Utility Services, Inc., AWR delivers essential services to a broad customer base. Its operations are deeply embedded in regions with significant water and energy needs, providing regulated and reliable utility services that are vital to community infrastructure and public welfare. Industry-specific keywords such as "utilities regulation" and "public utilities" are integral to understanding its market presence.
Core Business Divisions
The company is structured into three primary business segments:
- Water Services: Through Golden State Water Company, AWR supplies water to both residential and commercial customers across numerous communities in California. This segment operates under strict regulatory oversight, ensuring the delivery of high-quality, reliable water services in a market known for its extensive regulation.
- Electric Services: Bear Valley Electric Services, a key subsidiary, manages the distribution of electricity in targeted regions, ensuring uninterrupted power supply to a dedicated customer base in areas such as Big Bear and its surroundings.
- Contracted Services: Via American States Utility Services, Inc. (ASUS), the company provides comprehensive operations, maintenance, and construction management for water and wastewater systems, predominantly on military bases under long-term privatization contracts with the U.S. government.
Regulatory Environment and Operational Excellence
Operating in a highly regulated industry, American States Water Co adheres to stringent guidelines established by authorities such as the California Public Utilities Commission. The regulatory environment plays a critical role in shaping its operational strategies, ensuring transparent pricing models and consistent, reliable service provision. This attention to regulatory compliance enhances the company’s reputation as an accountable and stable utility service provider.
Competitive Landscape and Market Distinction
Within the competitive landscape of public utilities, AWR distinguishes itself through its diversified service portfolio. The combination of water, electric, and government-contracted operations provides the company with a stable revenue base while mitigating risks associated with market fluctuations. Its long-term contracts, especially in the government and military installation segments, offer a unique competitive edge and underscore its operational expertise and commitment to excellence in service delivery.
Business Model and Revenue Streams
The company’s revenue is primarily generated through the provision of regulated water services, complemented by electric distribution and specialized government-contracted projects. This multi-faceted revenue model is designed to capitalize on the consistent demand for essential utilities, delivering dependable cash flows and supporting ongoing operational investments. The structural diversity of its revenue sources also enables the company to navigate various economic conditions while maintaining service standards.
Operational Impact and Historical Consistency
American States Water Co is recognized for its longstanding commitment to operational reliability and service quality. Its extensive history of consistent dividend payments reflects a managed approach to financial stability and a robust operational model. Detailed management of water supply, electric distribution, and contracted services speaks to the company’s deep-rooted expertise in managing complex utility operations in regulated markets.
Conclusion
In summary, American States Water Co stands as a comprehensive utility service provider with deep roots in the California market. By integrating regulated water services, localized electric distribution, and specialized contracted service operations, the company offers a well-rounded solution to essential community needs. Its methodical approach to regulation compliance and revenue diversification underscores an established market presence that continues to underpin its reputation for operational excellence.
American States Water Company (NYSE:AWR) reported a 36.8% increase in earnings per share (EPS), reaching $0.52 for Q1 2021, compared to $0.38 in Q1 2020. This improvement was driven by a $2.5 million increase in water gross margin due to new rates from the California Public Utilities Commission. The electric segment saw a marginal increase of $0.01 per share, while the contracted services segment increased by $0.04 per share. AWR's Board approved a $0.335 dividend per share for Q2 2021, reflecting its long-standing commitment to dividend growth.
On April 30, 2021, the Board of Directors of American States Water Company (NYSE: AWR) announced a quarterly dividend of $0.335 per share, marking the 340th consecutive dividend payment. For 66 years, the company has increased its annual dividend, achieving a 9.4% CAGR from 2010 to 2020. The dividend will be payable on June 2, 2021, to shareholders of record by May 17, 2021. The company aims for a long-term annual growth rate in dividends exceeding 7%.
American States Water Company (NYSE:AWR) will release its first quarter financial results for the period ending March 31, 2021, after market close on May 3, 2021. A conference call to discuss the results will take place on May 4, 2021, at 2:00 p.m. Eastern Time, featuring CEO Robert Sprowls and CFO Eva Tang. The call will include a Q&A session and will be accessible via www.aswater.com. It will also be archived for replay starting May 4, 2021, at 5:00 p.m. Eastern Time.
American States Water Company has a long history of dividend payments, having increased dividends for 66 consecutive years.
American States Water Company (AWR) reported a fourth-quarter earnings per share of $0.55, up from $0.45 in Q4 2019. For the full year 2020, earnings were $2.34 per share, compared to $2.28 in 2019. The water segment contributed $0.32 per share, boosted by a $1.7 million gross margin increase due to new rates. The electric segment saw earnings rise to $0.07 per share, and contracted services remained steady at $0.47. AWR declared a quarterly dividend of $0.335 per share, marking over 81 consecutive years of dividends.
American States Water Company (NYSE:AWR) announced it will release its fourth quarter and year-end financial results on February 22, 2021, after market close. A conference call hosted by CEO Robert Sprowls and CFO Eva Tang will take place on February 23 at 2:00 p.m. ET. Participants can access the call online at www.aswater.com. The results will be available for replay starting February 23 at 5:00 p.m. ET. The company has consistently paid dividends since 1931, increasing them for 66 consecutive years, distinguishing it on the NYSE.
On February 2, 2021, the Board of Directors of American States Water Company (NYSE:AWR) approved a quarterly dividend of $0.335 per share, marking the 339th consecutive dividend payment. The company has increased its dividend every year for 66 years, demonstrating strong commitment to shareholders. AWR aims for a compound annual growth rate of over 7% for dividends and achieved a 9.4% growth rate from 2010 to 2020. Dividends will be payable on March 2, 2021, to shareholders of record by February 16, 2021.
American States Water Company (NYSE:AWR) reported earnings per share of $0.72 for Q3 2020, down from $0.76 in Q3 2019. Adjusted for a retroactive impact, earnings rose by 4.3%. The water segment earnings per share increased by $0.04 to $0.57, while the electric segment saw a decrease to $0.04 from $0.10 per share. For 2020 year-to-date, earnings decreased slightly to $1.79 from $1.83 per share. AWR announced a Q4 dividend of $0.335 per share, marking a 9.8% increase. The company faces challenges including increased operating expenses and construction delays attributed to COVID-19.
On October 27, 2020, American States Water Company (NYSE:AWR) announced a quarterly dividend of $0.335 per share, marking its 338th consecutive payment. The company has increased dividends annually for 66 years, showcasing its stability and commitment to shareholders. The recent dividend payments reflect a 9.4% compound annual growth rate from 2010–2020, with increases of 9.8% in 2020, 10.9% in 2019, and 7.8% in 2018. The dividend will be payable on December 1, 2020, to record shareholders by November 16, 2020.
American States Water Company (NYSE:AWR) will release its third quarter financial results for the period ending September 30, 2020, after the market closes on November 2, 2020. A conference call will be held on November 3 at 2:00 p.m. ET (11:00 a.m. PT) to discuss these results, featuring CEO Robert Sprowls and CFO Eva Tang. Participants can join the call online at www.aswater.com, with recordings available from November 3 at 5:00 p.m. ET through November 10.
American States Water Company has a strong history of consecutive dividend payments since 1931.
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