Core Insights - American States Water Company (AWR) reported third-quarter 2025 operating earnings per share (EPS) of $1.06, exceeding the Zacks Consensus Estimate of $1.01 by 4.95%, and up from 95 cents in the same quarter last year [1][10] AWR's Total Revenues - Total operating revenues reached $182.72 million, surpassing the Zacks Consensus Estimate of $178 million by 2.65%, and reflecting a 12.9% increase from $161.78 million in the prior-year period [2][10] Highlights of AWR's Q3 Release - Operating expenses totaled $121 million, a 13.4% increase from $106.7 million in the year-ago quarter, driven by higher costs in water purchases, power purchases for resale, administrative expenses, maintenance, and ASUS construction [3] - Operating income was $61.7 million, up 11.9% from $55.1 million in the corresponding period of 2024 [3][10] Interest Expenses and Income - Interest expenses amounted to $11.7 million, down 13.4% year over year due to decreased average borrowing levels and interest rates, despite a decline in interest income from regulatory assets [4] - Interest income totaled $1.1 million compared to $1.7 million in the year-ago quarter [4] Regulatory Approvals and Growth - AWR's regulated water utility received CPUC approval to provide water services to a new planned community, expected to serve up to 3,800 customer connections over the next five years, with potential for 17,500 total dwelling units at full buildout over 20+ years [5] Segmental Details - Earnings from the Water segment were 86 cents per share, up 2.38% from 84 cents a year ago, attributed to new CPUC-authorized rate increases effective January 1, 2025 [6] - EPS from the Electric segment was 4 cents, an increase of 2 cents from the previous year, driven by higher revenues from new rates implemented in 2025 [7] - EPS from the Contracted Services segment was 19 cents, up 8 cents from the year-ago quarter [7] Financial Update - As of September 30, 2025, cash and cash equivalents totaled $26.1 million, down from $26.7 million as of December 31, 2024 [11] - Long-term debt amounted to $790.3 million compared to $640.4 million as of December 31, 2024 [11] - Cash provided by operating activities in the first nine months of 2025 totaled $202.1 million, up from $134.2 million in the year-ago period [11] Guidance - AWR's regulated utilities are authorized to spend nearly $650 million in capital investments, targeting to invest $180 to $210 million in 2025 [12] - The contracted services business is expected to contribute 59 cents to 63 cents per share for the whole year [12] Zacks Rank - American States Water currently holds a Zacks Rank 2 (Buy) [13]

American States Water (AWR) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +4.95%. A quarter ago, it was expected that this water and electric utility would post earnings of $0.92 per share when it actually produced earnings of $0.87, delivering a surprise of -5.43%.Over the last fou ...

Exhibit 99.1 American States Water Company Announces Third Quarter 2025 Results San Dimas, California, November 5, 2025…. American States Water Company (NYSE:AWR) today reported basic and fully diluted earnings per share of $1.06 for the quarter ended September 30, 2025, as compared to basic and fully diluted earnings per share of $0.95 for the quarter ended September 30, 2024, an increase of $0.11 per share, primarily generated from higher construction activities that resulted in higher earnings at the con ...

Financial Performance - Total operating revenues for the three months ended September 30, 2025, increased to $182.716 million, up from $161.782 million in the same period of 2024, representing a growth of 12.0%[30] - Net income for the nine months ended September 30, 2025, was $101.701 million, compared to $90.833 million for the same period in 2024, reflecting an increase of 12.6%[30] - Operating income for the three months ended September 30, 2025, was $61.733 million, up from $55.068 million in the same period of 2024, a rise of 12.1%[30] - The company reported a basic earnings per share of $1.06 for the three months ended September 30, 2025, compared to $0.95 for the same period in 2024, reflecting an increase of 11.6%[30] - Net income for the nine months ended September 30, 2025, was $81,344,000, compared to $74,555,000 in 2024, reflecting an increase of 9.4%[43] - For the nine months ended September 30, 2025, operating revenues reached $493,795,000, up from $433,000,000 in the previous year, marking an increase of approximately 14%[127] - AWR's net income for the three months ended September 30, 2025, was $41.167 million, compared to $35.834 million for the same period in 2024, reflecting a 6.1% increase[91] - AWR's consolidated diluted earnings per share increased to $1.06 for Q3 2025, up from $0.95 in Q3 2024, primarily due to higher construction activities and new customer rates[149] Assets and Equity - The company's total assets as of September 30, 2025, amounted to $2.655 billion, an increase from $2.500 billion as of December 31, 2024, indicating a growth of 6.2%[28] - Common shareholders' equity rose to $1.009 billion as of September 30, 2025, compared to $920.051 million at the end of 2024, marking an increase of 9.7%[27] - Total consolidated assets as of September 30, 2025, amounted to $2,655,273,000, with total net property, plant, and equipment at $2,240,869,000[131] Liabilities and Debt - Long-term debt increased to $790.261 million as of September 30, 2025, from $640.382 million at the end of 2024, representing a rise of 23.4%[27] - Long-term debt increased to $705,639,000 in 2025 from $605,547,000 in 2024, marking a rise of 16.5%[41] - AWR's long-term debt increased to $794.3 million as of September 30, 2025, up from $643.9 million as of December 31, 2024, representing a 23.4% increase[107] - GSWC's long-term debt rose to $709.3 million as of September 30, 2025, compared to $608.9 million as of December 31, 2024, marking a 16.5% increase[108] Cash Flow and Dividends - The company paid dividends of $0.5040 per common share for the three months ended September 30, 2025, compared to $0.4655 in the same period of 2024, an increase of 8.3%[30] - The company paid dividends totaling $55.1 million during the nine months ended September 30, 2025, compared to $49.4 million in 2024, reflecting an increase of approximately 11.5%[36] - Cash flows from operating activities provided $156,004,000, up from $106,125,000 in the same period last year, reflecting a 47.0% increase[50] Operating Expenses - Total operating expenses for the nine months ended September 30, 2025, were $227,251,000, up from $208,154,000 in 2024, indicating an increase of 9.2%[43] - Total operating expenses increased by $28.986 million (9.5%) to $335.6 million, with significant increases in water purchased costs by $12.2 million (21.8%) and maintenance costs by $5.3 million (50.4%)[198] - Administrative and general expenses increased to $77.5 million in 2025, up 6.1% from $73.0 million in 2024, with significant increases in electric services costs[215] Revenue Segmentation - For the three months ended September 30, 2025, total water revenues were $132.3 million, a 6.0% increase from $124.0 million in the same period of 2024[70] - Electric revenues for the three months ended September 30, 2025, reached $13.3 million, up 47.5% from $9.0 million in the prior year[70] - Contracted services revenues from contracts with customers for the three months ended September 30, 2025, totaled $37.1 million, a 29.2% increase compared to $28.7 million in 2024[70] - Water revenues increased by $29.3 million (9.0%) to $354.0 million, primarily due to CPUC-approved rate increases effective January 1, 2025, and a 5.7% increase in billed water consumption[200] Regulatory and Compliance - GSWC's new M-WRAM and ICBA regulatory mechanisms became effective January 1, 2025, impacting revenue recognition and cost recovery[140] - The CPUC's final decision on GSWC's general rate case set new rates for 2025-2027, with a cumulative balance of $2.6 million under-collection recorded as a regulatory asset[79] - GSWC expects to receive approximately $19 million from 3M Company related to PFAS contamination litigation, with $12.5 million recognized as a receivable in Q2 2025[83] Capital Expenditures - Capital expenditures for the nine months ended September 30, 2025, were $173.1 million, slightly down from $173.5 million in the same period of 2024[36] - GSWC is authorized to invest approximately $573.1 million in capital infrastructure over the three-year capital cycle from 2025 to 2027[139] - BVES is authorized to invest approximately $52.5 million in capital infrastructure over the four-year rate cycle from 2023 to 2026, with an additional $23.1 million to be filed for revenue recovery[143] Other Financial Metrics - Interest expense decreased to $27,145,000 for the nine months ended September 30, 2025, from $28,970,000 in 2024, a reduction of 6.3%[43] - The overall actual percentage of purchased water for the three months ended September 30, 2025, was 44.2%, up from 43.2% in the same period of 2024[175] - The water supply cost balancing account showed a $0.7 million over-collection in 2025, down from a $2.1 million over-collection in 2024[210]

Core Insights - American States Water Company reported basic and fully diluted earnings per share of $1.06 for Q3 2025, an increase of $0.11 from $0.95 in Q3 2024, driven by higher construction activities and increased earnings in contracted services, water, and electric segments [1] Financial Performance - Earnings per share for Q3 2025: $1.06 - Earnings per share for Q3 2024: $0.95 - Increase in earnings per share: $0.11 [1]

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Core Insights - American States Water Company (AWR) is recognized as a reliable dividend stock, appealing to income-focused investors due to its long-standing dividend history [1][4]. Company Overview - American States Water Company operates as a diversified utility firm with subsidiaries in three main segments: water, electric, and contracted services [2]. - The company has been focusing on enhancing its regulated operations and upgrading infrastructure to meet evolving climate and environmental standards [3]. Dividend Performance - AWR has paid dividends every year since 1931 and has increased them annually for 71 consecutive years, marking one of the longest records in the industry [4]. - The company has achieved a compound annual growth rate (CAGR) of 8.5% in its quarterly dividend over the past five years and aims for a 10-year CAGR of about 8.3% by 2025 [4]. - As of October 13, AWR offers a quarterly dividend of $0.504 per share, resulting in a dividend yield of 2.76% [4].

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Core Viewpoint - American States Water Company (AWR) is positioned to benefit from an expanding customer base and regulatory approvals, which enhance its financial performance, although it faces risks related to groundwater contamination and reliance on California for earnings [1][6][7]. Group 1: Growth Factors - AWR is steadily increasing its electricity and water utility customer base, contributing to its robust utility customer foundation [2]. - The subsidiary, American States Utility Services (ASUS), has successfully initiated operations at two new military bases, securing long-term contracts that stabilize earnings. In 2024, ASUS was awarded $56.5 million for capital upgrade projects across military bases, with completion expected by 2027 [3][4]. - Approved rate cases for regulated utilities provide a clear path for revenue and earnings growth, with projected investments of nearly $573.1 million in infrastructure from 2025 to 2027 [5][9]. Group 2: Risks and Challenges - Groundwater contamination remains a significant risk for water service providers, potentially leading to additional costs for AWR in the future [6]. - AWR's financial performance is heavily dependent on California, particularly Southern California, exposing it to various risks including political, water supply, labor, utility costs, and regulatory challenges [7]. Group 3: Market Performance - Over the past month, AWR shares have decreased by 3.4%, contrasting with a 0.1% growth in the industry [8].