November 7, 2025 | 10:00 a.m. ET Forward-Looking Statements Certain written statements included herein and/or oral statements made in connection with the presentation contained herein constitute "forward-looking information" within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collec ...

Market Overview - Wall Street's major indexes have reached multiple all-time closing highs recently, but the market has experienced volatility due to economic uncertainties [1][5] - The tech sector, particularly driven by AI optimism, has seen fluctuations, with significant pullbacks in stock prices due to concerns over high valuations [2][6] Economic Concerns - Investors are worried about the health of the economy, particularly with a shrinking labor market and fewer jobs being added [7] - Layoffs surged in October, totaling 153,074, which is a 183% increase sequentially and a 175% increase year-over-year [8] - The ongoing government shutdown has limited access to fresh economic data, contributing to investor uncertainty [9] Defensive Investment Recommendations - In light of market volatility, it is advisable to consider defensive stocks, particularly from the utilities sector, which are characterized by low beta values and high dividend yields [3][4][12] - Five recommended low-beta utility stocks include: - **Atmos Energy Corporation (ATO)**: Expected earnings growth of 6%, beta of 0.73, and a dividend yield of 2.02% [10][11] - **American States Water Company (AWR)**: Expected earnings growth of 4.1%, beta of 0.64, and a dividend yield of 2.72% [13][14] - **Consolidated Water Co. Ltd. (CWCO)**: Expected earnings growth of 0.9%, beta of 0.51, and a dividend yield of 1.61% [15][16] - **Entergy Corporation (ETR)**: Expected earnings growth of 6.9%, beta of 0.63, and a dividend yield of 2.49% [17][18] - **Duke Energy Corporation (DUK)**: Expected earnings growth of 7.3%, beta of 0.45, and a dividend yield of 3.44% [18][19]

Core Insights - Mueller Water Products (MWA) reported revenue of $380.8 million for the quarter ended September 2025, reflecting a year-over-year increase of 9.4% and a surprise of +5.18% over the Zacks Consensus Estimate of $362.05 million [1] - Earnings per share (EPS) for the quarter was $0.38, compared to $0.22 in the same quarter last year, resulting in an EPS surprise of +11.76% against the consensus estimate of $0.34 [1] Revenue Performance - Net Sales from Water Management Solutions reached $163.3 million, exceeding the average estimate of $157.5 million by two analysts, marking a year-over-year increase of +10.4% [4] - Net Sales from Water Flow Solutions amounted to $217.5 million, surpassing the average estimate of $204.5 million, with a year-over-year change of +8.6% [4] Operating Income - Adjusted operating loss for Corporate was reported at $-16 million, slightly worse than the estimated $-15 million by two analysts [4] - Adjusted operating income for Water Management Solutions was $39.8 million, exceeding the average estimate of $34 million [4] - Adjusted operating income for Water Flow Solutions was $55.1 million, compared to the average estimate of $53.5 million [4] Stock Performance - Shares of Mueller Water Products have returned +1.2% over the past month, in comparison to the Zacks S&P 500 composite's +1.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

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ISELIN, N.J., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Middlesex Water Company (“Middlesex”) (NASDAQ: MSEX) today announced that Senior Vice President, Chief Financial Officer and Treasurer Rally Zerhouni will present at the Baird 2025 Global Industrial Conference in Chicago on Wednesday, November 12, 2025, at 10:50 a.m. CT (11:50 a.m. ET). About Middlesex Water Company Middlesex Water Company is one of the nation’s premier investor-owned water and wastewater utilities. Established in 1897, Middlesex is a trusted ...

Financial Data and Key Metrics Changes - Recorded earnings per share (EPS) for Q3 2025 were $1.06, an increase of 11.6% compared to $0.95 in Q3 2024 [4][8] - Year-to-date EPS as of September 30 was $2.63, up $0.21 or 8.7% from $2.42 in the same period last year [5][12] - Consolidated revenue for Q3 increased by $21 million compared to Q3 2024 [10] Business Line Data and Key Metrics Changes - Water utility earnings were $0.86 per share, up from $0.84 per share last year, primarily due to new water rates effective January 1, 2025 [8] - Electric segment earnings increased to $0.04 per share from $0.02 per share, attributed to new electric rates [9] - Earnings from American States Utility Services (ASUS) rose to $0.19 per share from $0.11 per share, driven by higher construction activity [23] Market Data and Key Metrics Changes - The water utility's rate base grew from $980.4 million in 2021 to $1,455.8 million in 2025, reflecting a compound annual growth rate (CAGR) of 10.4% [19] - ASUS was awarded $28.7 million in new capital upgrade construction projects, expected to be completed through 2028 [24] Company Strategy and Development Direction - The company plans to invest $180-$210 million in infrastructure for the year, focusing on long-term benefits for customers [5] - The company is preparing for its next water rate case, expected to be filed by July 1, 2026, and is optimistic about future growth despite industry mergers [15][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong performance in regulated utilities and ASUS [37] - The company noted potential volatility in revenues and earnings due to changes in water consumption and supply source mix [16] Other Important Information - The company raised its quarterly dividend by 8.3%, maintaining a compound annual growth rate of 8.5% over the last five years [24] - American States Water Company was recognized on TIME's America's Best Mid-Sized Companies 2025 list and Barron's 100 Most Sustainable Companies for 2025 [6][7] Q&A Session Summary Question: Inquiry about ASUS contract timing and EPS impact - Management indicated that while there is a good backlog for capital upgrades, the transition period for new contracts may affect EPS in 2026 [31][32] Question: Clarification on new customer connections and rate base translation - Management explained that new customer connections depend on home purchases and developer agreements, making it challenging to predict rate base impacts [33][35] Question: Thoughts on M&A in the industry - Management acknowledged the recent merger in the industry but stated it would not impact the company's strategic direction, emphasizing confidence in growth plans [37][38]

Financial Results Call Presentation Third Quarter 2025 November 6, 2025 NYSE: AWR Today's Presenters Robert J. Sprowls President & CEO Eva G. Tang SVP – Finance & CFO 2 Forward-Looking Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by words such as "anticipate," "estimate," "expect," "intend," "may," "should" and similar phrases and expressions, and variations or ne ...

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Key Takeaways AWR's Q3 EPS of $1.06 beat estimates by nearly 5%, up from 95 cents a year ago.Revenues rose 12.9% to $182.72 million, driven by new CPUC-approved rate increases.Operating income grew 11.9% to $61.7 million, supported by strong Water and Electric segments.American States Water Company (AWR) reported third-quarter 2025 operating earnings per share (EPS) of $1.06, which beat the Zacks Consensus Estimate of $1.01 by 4.95%. In the year-ago quarter, the company reported EPS of 95 cents.AWR’s Total ...

YORK, Pa., Nov. 06, 2025 (GLOBE NEWSWIRE) -- The York Water Company's (NASDAQ:YORW) President, JT Hand, announced the Company's financial results for the third quarter and the first nine months of 2025. President Hand reported that third quarter operating revenues of $20,361,000 increased $646,000 and net income of $6,201,000 increased $338,000 compared to the third quarter of 2024. Basic and Diluted Earnings per share of $0.43 for the three-month period increased $0.02 compared to the same period last year ...