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American States Water's (AWR) Q1 Earnings Miss, Improve Y/Y
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American States Water Company (AWR - Free Report) reported first-quarter 2019 operating earnings of 35 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 2.78%. However, the bottom line improved 20.7% from 29 cents registered in the year-ago quarter.
Total Revenues
Operating revenues amounted to $102 million, which outpaced the Zacks Consensus Estimate of $99 million by 2.76%. The top line also improved 7.4% from $94.7 million in the prior-year quarter. The upside can be primarily attributed to higher revenues in the Contracted services segment, which was up by nearly 28.8%.
American States Water Company Price, Consensus and EPS Surprise
In the quarter under review, American States Water’s total operating expenses were $81.5 million, up 7.2% year over year.
Interest expenses were $6.3 million, up 6.6% year over year. Also, interest income totaled $1 million, up 75.7% year over year.
Segment Details
At the Water segment, earnings were 21 cents, up from 20 cents in the prior-year quarter.
Earnings in the Electric segment came in at 3 cents, down from 4 cents in the year-ago quarter.
At the Contracted Services segment, earnings totaled 11 cents, which rallied 120% from the year-ago quarter’s tally.
Financial Update
As of Mar 31, 2019, American States Water’s cash and cash equivalents were $1.8 million compared with $7.1 million as of Dec 31, 2018.
As of Mar 31, 2019, the company’s long-term debts were down at $281 million in line with the debt as of Dec 31, 2018.
Recent Utility Releases
Aqua America Inc. reported first-quarter 2019 earnings of 28 cents per share, which fell short of the Zacks Consensus Estimate by 6.7%.
American Water Works Company (AWK - Free Report) posted first-quarter 2019 earnings of 61 cents per share, which lagged the Zacks Consensus Estimate by 3.2%.
Middlesex Water (MSEX - Free Report) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.31 per share by 25.8%.
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American States Water's (AWR) Q1 Earnings Miss, Improve Y/Y
American States Water Company (AWR - Free Report) reported first-quarter 2019 operating earnings of 35 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 2.78%. However, the bottom line improved 20.7% from 29 cents registered in the year-ago quarter.
Total Revenues
Operating revenues amounted to $102 million, which outpaced the Zacks Consensus Estimate of $99 million by 2.76%. The top line also improved 7.4% from $94.7 million in the prior-year quarter. The upside can be primarily attributed to higher revenues in the Contracted services segment, which was up by nearly 28.8%.
American States Water Company Price, Consensus and EPS Surprise
American States Water Company Price, Consensus and EPS Surprise | American States Water Company Quote
Operational Update
In the quarter under review, American States Water’s total operating expenses were $81.5 million, up 7.2% year over year.
Interest expenses were $6.3 million, up 6.6% year over year. Also, interest income totaled $1 million, up 75.7% year over year.
Segment Details
At the Water segment, earnings were 21 cents, up from 20 cents in the prior-year quarter.
Earnings in the Electric segment came in at 3 cents, down from 4 cents in the year-ago quarter.
At the Contracted Services segment, earnings totaled 11 cents, which rallied 120% from the year-ago quarter’s tally.
Financial Update
As of Mar 31, 2019, American States Water’s cash and cash equivalents were $1.8 million compared with $7.1 million as of Dec 31, 2018.
As of Mar 31, 2019, the company’s long-term debts were down at $281 million in line with the debt as of Dec 31, 2018.
Recent Utility Releases
Aqua America Inc. reported first-quarter 2019 earnings of 28 cents per share, which fell short of the Zacks Consensus Estimate by 6.7%.
American Water Works Company (AWK - Free Report) posted first-quarter 2019 earnings of 61 cents per share, which lagged the Zacks Consensus Estimate by 3.2%.
Middlesex Water (MSEX - Free Report) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.31 per share by 25.8%.
Zacks Rank
American States Water carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>