American States Water Co (NYSE:AWR) Q4 2019 Earnings Conference Call February 25, 2020 2:00 PM ET Company Participants Robert Sprowls - CEO, President & Director Eva Tang - SVP, Finance, CFO, Corporate Secretary & Treasurer Conference Call Participants Richard Verdi - Coker & Palmer Jonathan Reeder - Wells Fargo Securities Operator Ladies and gentlemen, thank you for standing by. Welcome to the American States Water Company conference call discussing the company's fourth quarter and full year 2019 results. ...

| --- | --- | --- | --- | |----------------------------------------------------------------------------------------------|-------------------------------------------|-------|----------------------------| | American States Water Company Common Shares | | AWR | New York Stock Exchange | | | Securities registered pursuant to Section | 12(g) | of the Act: None | | Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule | | | 405 of the Securities Act. | American States Water ...

American States Water Company (NYSE:AWR) Q3 2019 Earnings Conference Call November 5, 2019 2:00 PM ET Company Participants Bob Sprowls - President & CEO Eva Tang - SVP of Finance & CFO Conference Call Participants Durgesh Chopra - Evercore ISI Richard Verdi - Coker & Palmer Jonathan Reeder - Wells Fargo Operator Ladies and gentlemen, thank you for standing by. Welcome to the American States Water Company Conference Call discussing the Company's Third Quarter 2019 Results. The call is being recorded. If you ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | --- | --- | --- | --- | |-----------------------------------------|---------------------------------------------------------------|---------------------------|-------------------- ...

Financial Data and Key Metrics Changes - The company reported a 45% increase in adjusted earnings per share, reaching $0.72 per diluted share compared to $0.44 per share in the same period last year [6][10] - Consolidated revenues increased by $17.7 million, driven by both the water and contracted services segments [12] - Year-to-date earnings per share for the first six months of 2019 were $1.07, a 47% increase from $0.73 for the same period last year [16] Business Line Data and Key Metrics Changes - The water segment's earnings per share were $0.59, with $0.08 attributed to the retroactive impact of the water rate case [10] - The electric segment's earnings for Q2 2019 were $0.01 per share, down from $0.02 per share in the previous year, primarily due to increased operating expenses [11] - The contracted services segment saw a $0.06 per share increase in earnings, attributed to the Fort Riley contract and increased management fees [12][22] Market Data and Key Metrics Changes - Water revenue for Q2 2019 increased by $11.4 million to $88.1 million due to new water rates, including $3.4 million related to the first three months of 2019 [12] - Electric revenue was slightly down pending a final decision on the electric rate case, with billed electric revenue based on 2017 rates [13] - Contracted services revenues increased by $6.8 million compared to the previous year, largely due to Fort Riley and increased construction activities [13] Company Strategy and Development Direction - The company plans to invest $115 million to $125 million in capital projects for 2019, which is about three times the expected annual depreciation expense [8][17] - The updated dividend policy targets a compounded annual growth rate in dividends of more than 7% over the long term, reflecting confidence in the sustainability of earnings [7][23] - The company is well-positioned to compete for new military base contracts due to strong relationships with the U.S. government and expertise in managing water and wastewater systems [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued earnings growth, supported by regulatory decisions and solid execution of business strategies [6][9] - The company anticipates a final decision on the electric rate case by the end of Q3 or Q4 2019, which could positively impact earnings [11][21] - Management highlighted the importance of the recent regulatory decisions in enhancing revenue and margin stability [18][19] Other Important Information - The company raised its dividend by 10.9%, reflecting confidence in future earnings and the ability to attract capital for necessary investments [7][23] - The company has paid dividends every year since 1931, increasing them for 65 consecutive years [23] Q&A Session Summary Question: Discussion on ASUS guidance and quarterly strength - Management noted that 2019 has seen more construction work in the first and second quarters compared to previous years, leading to a more levelized quarterly contribution [26][27] Question: Future dividend growth expectations - Management indicated that they are comfortable with a growth rate exceeding 7% and do not anticipate reducing dividends moving forward, reflecting a conservative approach [28][30]

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | --- | --- | --- | --- | |-----------------------------------------|---------------------------------------------------------------|---------------------------|------------------------- ...

American States Water Company (NYSE:AWR) Q1 2019 Earnings Conference Call May 7, 2019 2:00 PM ET Company Participants Bob Sprowls – President and Chief Executive Officer Eva Tang – Senior Vice President-Finance and Chief Financial Officer Conference Call Participants Durgesh Chopra – Evercore ISI Richard Verdi – Coker & Palmer Jonathan Reeder – Wells Fargo Operator Ladies and gentlemen, thank you for standing by. Welcome to the American States Water Company Conference Call Discussing the Company’s First Qua ...