American States Water pany(US:AWR)2023-03-02 18:57Financial Performance - Fourth quarter 2022 consolidated diluted earnings per share (EPS) as reported was $0.50, compared to $0.55 in Q4 2021[11] - Adjusted fourth quarter 2022 consolidated diluted EPS was $0.56, an increase of $0.05 compared to adjusted Q4 2021[11, 16] - Full year 2022 diluted EPS decreased $0.44 to $2.11 per share, but adjusted EPS increased $0.12 to $2.59 per share[10] - Water segment Q4 2022 diluted EPS was $0.28, down $0.08 from $0.36 in Q4 2021[11] - Contracted Services (ASUS) Q4 2022 earnings were $0.17 per share, an increase of $0.04 per share compared to Q4 2021[11, 29] Revenue and Expenses - Total operating revenues for Q4 2022 were $125.4 million, an increase of $8.8 million compared to $116.6 million in Q4 2021[13] - Water segment revenues for Q4 2022 were $75.0 million, a decrease of $2.7 million compared to $77.7 million in Q4 2021[13] - Total operating expenses for Q4 2022 were $97.8 million, an increase of $11.2 million compared to $86.6 million in Q4 2021[14] Regulatory and Capital Investments - Invested a record high $167.4 million in company-funded infrastructure at regulated utilities in 2022[10, 19] - Received $34.4 million in new capital upgrade awards at ASUS[10, 29] - Awaiting a decision from the CPUC for GSWC's general rate case, which, if approved as settled, would add $0.38 per share to full year 2022 earnings[10] Dividends and Liquidity - Increased the annual dividend by 8.9%, marking 68 consecutive years of annual dividend increases[10] - Operating cash flows were $117.8 million for 2022, compared to $115.6 million for 2021[19]