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American States Water (AWR) Q3 Earnings & Revenues Miss Mark
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American States Water Company (AWR - Free Report) reported third-quarter 2020 operating earnings of 72 cents per share, which missed the Zacks Consensus Estimate of 75 cents by 4%. Also, the bottom line improved 4.3% from year-ago quarter’s adjusted earnings of 69 cents.
Total Revenues
Operating revenues of $133.7 million missed the Zacks Consensus Estimate of $136 million by 1.7%. Also, the top line dipped 0.6% from $134.5 million in the prior-year quarter. Total revenues decreased primarily due to lower revenues in Electric and Contracted services segments.
American States Water Company Price, Consensus and EPS Surprise
In the quarter under review, American States Water’s total operating expenses were $93.9 million, up 2.3% year over year.
Operating income was $39.8 million, down 6.8% year over year.
Interest expenses were $6.2 million, down 1.9% year over year. Also, interest income was $0.3 million, down from $0.8 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 57 cents, up from 53 cents in the prior-year quarter.
Earnings in the Electric segment of 4 cents were up from 3 cents in the year-ago quarter.
Earnings in the Contracted Services segment were 10 cents, down from 12 cents in the year-ago quarter.
Financial Update
As of Sep 30, 2020, American States Water’s cash and cash equivalents were $8.1 million compared with $1.3 million as of Dec 31, 2019.
As of Sep 30, 2020, the company’s long-term debt wa s$440.3 million, up from $281 million as of Dec 31, 2019.
American Water Works Company, Inc. (AWK - Free Report) will post third-quarter 2020 earnings on Nov 4, 2020. The Zacks Consensus Estimate is pegged at $1.38 per share.
California Water Service Group (CWT - Free Report) will post third-quarter 2020 earnings on Nov 6, 2020. The Zacks Consensus Estimate is pegged at $1.14 per share.
Consolidated Water Co. Ltd. (CWCO - Free Report) will post third-quarter 2020 earnings on Nov 10, 2020. The Zacks Consensus Estimate is pegged at 15 cents per share.
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American States Water (AWR) Q3 Earnings & Revenues Miss Mark
American States Water Company (AWR - Free Report) reported third-quarter 2020 operating earnings of 72 cents per share, which missed the Zacks Consensus Estimate of 75 cents by 4%. Also, the bottom line improved 4.3% from year-ago quarter’s adjusted earnings of 69 cents.
Total Revenues
Operating revenues of $133.7 million missed the Zacks Consensus Estimate of $136 million by 1.7%. Also, the top line dipped 0.6% from $134.5 million in the prior-year quarter. Total revenues decreased primarily due to lower revenues in Electric and Contracted services segments.
American States Water Company Price, Consensus and EPS Surprise
American States Water Company price-consensus-eps-surprise-chart | American States Water Company Quote
Operational Update
In the quarter under review, American States Water’s total operating expenses were $93.9 million, up 2.3% year over year.
Operating income was $39.8 million, down 6.8% year over year.
Interest expenses were $6.2 million, down 1.9% year over year. Also, interest income was $0.3 million, down from $0.8 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 57 cents, up from 53 cents in the prior-year quarter.
Earnings in the Electric segment of 4 cents were up from 3 cents in the year-ago quarter.
Earnings in the Contracted Services segment were 10 cents, down from 12 cents in the year-ago quarter.
Financial Update
As of Sep 30, 2020, American States Water’s cash and cash equivalents were $8.1 million compared with $1.3 million as of Dec 31, 2019.
As of Sep 30, 2020, the company’s long-term debt wa s$440.3 million, up from $281 million as of Dec 31, 2019.
Zacks Rank
American States Water currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
American Water Works Company, Inc. (AWK - Free Report) will post third-quarter 2020 earnings on Nov 4, 2020. The Zacks Consensus Estimate is pegged at $1.38 per share.
California Water Service Group (CWT - Free Report) will post third-quarter 2020 earnings on Nov 6, 2020. The Zacks Consensus Estimate is pegged at $1.14 per share.
Consolidated Water Co. Ltd. (CWCO - Free Report) will post third-quarter 2020 earnings on Nov 10, 2020. The Zacks Consensus Estimate is pegged at 15 cents per share.
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Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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