Financial Data and Key Metrics Changes - Earnings per share (EPS) for Q3 2024 were $0.95, an increase from $0.85 in Q3 2023, primarily due to rate increases in the Water segment and gains on investments [8][16] - Consolidated revenue for Q3 increased by $10 million compared to last year, with water segment revenue up by $7.8 million due to rate increases [20] - Year-to-date EPS as of September was $2.42, down from $2.82 in the same period of 2023, affected by retroactive rates and revenue adjustments [24][25] Business Line Data and Key Metrics Changes - Golden State Water reported earnings of $0.84 per share for Q3 2024, up from $0.72 in Q3 2023, driven by increased water rates [16] - Electric segment earnings decreased to $0.02 per share from $0.04 per share due to pending rate decisions and rising interest costs [18] - ASUS's earnings were consistent at $0.11 per share for Q3 2024 compared to $0.12 in 2023, with year-to-date earnings at $0.44 per share, up from $0.38 [44] Market Data and Key Metrics Changes - The company invested $172.5 million in infrastructure year-to-date and plans to invest a record $210 million to $230 million in capital expenditures for the full year [9][27] - The average water rate base for Golden State Water increased from $752.2 million in 2018 to $1.3575 billion in 2024, reflecting a compound annual growth rate of 10.3% [43] Company Strategy and Development Direction - The company aims to continue investing in infrastructure to enhance service reliability and safety for customers, with significant capital investments planned [10][13] - ASUS has been awarded a record $54 million in new capital upgrade construction projects, indicating a strong competitive position in securing government contracts [15][45] - The company maintains a dividend growth strategy, targeting a compound annual growth rate of over 7% in dividends over the long term [46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of new rates and infrastructure investments on future earnings, with projections for ASUS to contribute $0.59 to $0.63 per share in 2025 [44][59] - The company anticipates continued growth in its rate base and is preparing for potential regulatory changes that could affect revenue [30][34] Other Important Information - The company maintains strong credit ratings, with American States Water rated A Stable and Golden State Water rated A+ Stable by S&P [29] - The settlements regarding rate cases for both water and electric utilities are expected to enhance revenue stability and growth [36][41] Q&A Session Summary Question: Year-to-date EPS for Bear Valley electric operations - Management noted that if the proposed decision had been approved, the year-to-date EPS would reflect a cumulative impact of $0.05 to $0.07 for 2023 and 2024 [47][48] Question: Timing for recording final orders - Management indicated that if a final decision is received before the 10-K filing, it could be booked in 2024 [49][50] Question: Increase in capital work for ASUS - The increase is attributed to government funding and the addition of new bases, but management cautioned that this level may not be sustainable [51][52] Question: Annual construction expense guidance for 2025 - Management suggested that while there may be some increase, it would not be a significant jump due to the need to manage renewal and replacement work [55][56] Question: Factors driving the increase in 2024 guidance range - The increase is due to better-than-expected construction conditions and contributions from new operations at military bases [60][61]

Core Viewpoint - American States Water Company (AWR) reported third-quarter 2024 operating earnings per share (EPS) of 95 cents, which was below the Zacks Consensus Estimate of 99 cents by 4% [1] Financial Performance - Total operating revenues reached $161.8 million, exceeding the Zacks Consensus Estimate of $161 million by 0.5% and increasing by 6.6% from $151.7 million in the prior-year period [2] - Operating expenses totaled $106.7 million, up 6.8% from $99.9 million in the same quarter last year, driven by higher water purchased for pumping, administrative costs, and other operational expenses [3] - Operating income was $55.1 million, reflecting a 6.4% increase from $51.8 million in the corresponding period of 2023 [3] - Interest expenses were $13.2 million, up 13.1% year over year, while interest income decreased to $1.7 million, down 18.2% year over year [3] Segment Performance - Earnings from the Water segment were 84 cents per share, a 16.7% increase from 72 cents a year ago [4] - EPS from the Electric segment was 2 cents, down by 2 cents from the previous year [4] - EPS from the Contracted Services segment was 11 cents, down 8.3% year over year [4] - The loss from AWR (Parent) remained at 2 cents per share, consistent with the loss from the year-ago quarter [4] Financial Position - As of September 30, AWR's cash and cash equivalents were $16.5 million, an increase from $14.1 million as of December 31, 2023 [5] - Long-term debt stood at $640.2 million, up from $575.6 million as of December 31, 2023 [5] - Cash provided by operating activities for the first nine months of 2024 totaled $134.2 million, compared to $56.5 million in the same period last year [5] Market Position - American States Water currently holds a Zacks Rank 3 (Hold) [6]

American States Water (AWR) came out with quarterly earnings of $0.95 per share, missing the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.04%. A quarter ago, it was expected that this water and electric utility would post earnings of $0.84 per share when it actually produced earnings of $0.85, delivering a surprise of 1.19%.Over the last four ...

Exhibit 99.1 American States Water Company Announces Third Quarter 2024 Results • Third quarter 2024 recorded earnings were $0.95 per share compared to third quarter 2023 recorded earnings of $0.85 per share, a $0.10 per share increase • AWR's regulated utilities reach settlement agreements in connection with both the water and electric general rate cases that combined authorize nearly $650 million in capital investments over the rate cycles • AWR's contracted services business is expected to contribute $0. ...

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, 2024 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission file number 001-14431 American States Water Company (Exact Name of Registrant as Specified in Its Charter) California 95-4676679 (State or Other Jurisdict ...

The Zacks Utility - Water Supply industry includes companies that provide drinking water and wastewater services to industrial, commercial and residential customers, along with numerous military bases across the country.Healthy and hygienic living requires a constant, uninterrupted flow of clean, potable water and reliable sewer services. Water utilities carry out the regular crucial work of meeting millions of Americans’ increasing demand for potable water. Storage tanks, treatment and desalination facilit ...

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American States Water’s (AWR) ongoing investments in infrastructure upgrades should allow it to provide quality services to its expanding customer base. Given its growth opportunities, AWR makes for a solid investment option in the utility sector.Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment option at the moment.AWR’s Growth Projections & Surprise HistoryThe Zacks Consensus Estimate for AWR’s 2024 earnings per share (EPS) has moved north 0.7% to $3.03 in the past ...

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