American States Water pany(US:AWR)2024-05-08 18:01Financial Performance - Diluted earnings per share decreased by $0.31, from $0.93 in Q1 2023 to $0.62 in Q1 2024[9] - Adjusted diluted earnings per share increased by $0.02, from $0.60 in Q1 2023 to $0.62 in Q1 2024[9] - Water segment operating revenues decreased by $22.4 million, from $112.7 million in Q1 2023 to $90.3 million in Q1 2024[12] - Total operating revenues decreased by $26.1 million, from $161.4 million in Q1 2023 to $135.3 million in Q1 2024[12] - Operating cash flows increased by $38.8 million, from $7.0 million in 2023 to $45.8 million in 2024[16] Contracted Services (ASUS) - Contracted Services earnings per share decreased by $0.02, from $0.15 in Q1 2023 to $0.13 in Q1 2024[10] - ASUS secured a 50-year contract at Naval Air Station Patuxent River with an estimated value of $349 million[9, 21] - ASUS secured a 15-year contract at Joint Base Cape Cod for up to $75 million[9, 21] - ASUS is projected to contribute $0.50 - $0.54 per share in 2024[21] Regulatory and Financial Activities - GSWC requested capital budgets of approximately $611.4 million over the rate cycle for water rates in 2025-2027[17] - AWR entered into an Equity Distribution Agreement to sell Common Shares through an at-the-market offering program of up to $200 million[16]