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American States Water (AWR) Beats on Q1 Earnings & Revenues

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American States Water Company (AWR - Free Report) reported first-quarter 2017 earnings of 34 cents per share, beating the Zacks Consensus Estimate of 32 cents by 6.25%.

 

 

The operating earnings were also higher than the year-ago figure of 28 cents by 21.4%. The year-over-year improvement was due to better contribution from all three segments.

Revenues

American States Water’s operating revenues in the quarter were $99 million, which surpassed the Zacks Consensus Estimate of $95 million by 4.2%. Further, revenues increased nearly 5.7% year over year.

Operational Update

In the quarter under review, American States Water’s operating expenses were $74.1 million, up 2.5% year over year. Interest expenses were $5.9 million, up 5.4%.

Operating income in the reported quarter was $24.8 million, up 16.9% from $21.2 million reported in the year-ago quarter.

Net income was $12.7 million, up 25.7% from the prior-year quarter.

American States Water Company Price, Consensus and EPS Surprise

 

American States Water Company Price, Consensus and EPS Surprise | American States Water Company Quote

Segment Details

The Water segment’s earnings during the quarter came in at 25 cents per share, up 13.6% year over year.

The Electric segment’s earnings during the quarter amounted to 4 cents, up 33.3% year over year.

The Contracted Services segment’s earnings improved 66.7% year over year to 5 cents.

Financial Update

As of Mar 31, 2017, American States Water’s cash and cash equivalents were $0.6 million compared with $0.4 million as of Dec 31, 2016.

As of Mar 31, 2017, long-term debts were $320.9 million, flat with the year-ago levels.
 
Net cash from operating activities in the first quarter of 2017 was $28.1 million, up from $27.7 million in the year-ago period.

Zacks Rank

American States Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Peer Releases

Connecticut Water Service, Inc. is expected to release first-quarter earnings on May 8. The Zacks Consensus Estimate for the quarter is pegged at 35 cents.

Consolidated Water Co. Ltd. (CWCO - Free Report) is expected to release first-quarter earnings on May 9. The Zacks Consensus Estimate for the quarter is pegged at 11 cents.

Global Water Resource Inc. (GWRS - Free Report) is scheduled to release first-quarter earnings on May 10. The Zacks Consensus Estimate for the quarter is pegged at 1 cent.

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