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American States Water (AWR) Q1 Earnings & Sales Lag Estimates
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American States Water Company (AWR - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of 38 cents, which lagged the Zacks Consensus Estimate of 54 cents by 29.6%. The bottom line also decreased by 27% from the year-ago quarter’s earnings of 52 cents per share.
Total Revenues
Operating revenues of $108.6 million missed the Zacks Consensus Estimate of $122 million by 11%. The top line narrowed 7.3% from $117.1 million in the prior-year quarter.
American States Water Company Price, Consensus and EPS Surprise
American States Water’s total operating expenses for the first quarter amounted to $84.2 million, down 2.9% from the year-ago quarter’s $86.7 million. This can primarily be attributed to a decrease in ground water production assessment expenses and property taxes.
Operating income was $24.4 million, down 19.5% from the year-ago figure of $30.3 million.
Interest expenses were $5.6 million, down 10.4% year over year. Interest income was $0.3 million, down 38% from the prior-year quarter’s level.
Segment Details
Earnings in the Water segment were 23 cents per share, down 30% from 33 cents in the prior-year quarter. This downside was mainly driven by increased operating expenses.
Earnings in the Electric segment of 7 cents per share were on par with the year-ago quarter’s reading as higher operating revenues were offset by increased operating expenses.
Earnings in the Contracted Services segment were 8 cents per share, down 33% from 12 cents in the year-ago quarter due to a decline in the timely construction activity.
Financial Update
As of Mar 31, 2022, AWR’s cash and cash equivalents were $10.1 million compared with $4.9 million as of Dec 31, 2021.
As of Mar 31, 2022, American States Water’s long-term debt was $412.1 million compared with $412.2 million as of Dec 31, 2021.
Zacks Rank
American States Water currently has a Zacks Rank #4 (Sell).
Global Water Resources (GWRS - Free Report) is slated to report first-quarter 2022 earnings on May 5 before market open. Global Water Resources’ long-term earnings growth is currently pegged at 15%.
The Zacks Consensus Estimate for GWRS’ 2023 earnings implies year-over-year growth of 25%.
Essential Utilities Inc. (WTRG - Free Report) is slated to report first-quarter 2022 earnings on May 9 after market close. The Zacks Consensus Estimate for Essential Utilities’ first-quarter EPS is pegged at 74 cents.
Essential Utilities’ long-term earnings growth is currently pegged at 6.1%.The Zacks Consensus Estimate for WTRG’s 2022 earnings implies year-over-year growth of 6.6%.
Consolidated Water (CWCO - Free Report) is slated to report first-quarter 2022 earnings on May 16 before market open. The Zacks Consensus Estimate for Consolidated Water’s first-quarter EPS is pegged at 9 cents.
Consolidated Water’s long-term earnings growth is currently pegged at 8%. The Zacks Consensus Estimate for CWCO’s 2022 earnings implies year-over-year growth of 130.4%.
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American States Water (AWR) Q1 Earnings & Sales Lag Estimates
American States Water Company (AWR - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of 38 cents, which lagged the Zacks Consensus Estimate of 54 cents by 29.6%. The bottom line also decreased by 27% from the year-ago quarter’s earnings of 52 cents per share.
Total Revenues
Operating revenues of $108.6 million missed the Zacks Consensus Estimate of $122 million by 11%. The top line narrowed 7.3% from $117.1 million in the prior-year quarter.
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
American States Water’s total operating expenses for the first quarter amounted to $84.2 million, down 2.9% from the year-ago quarter’s $86.7 million. This can primarily be attributed to a decrease in ground water production assessment expenses and property taxes.
Operating income was $24.4 million, down 19.5% from the year-ago figure of $30.3 million.
Interest expenses were $5.6 million, down 10.4% year over year. Interest income was $0.3 million, down 38% from the prior-year quarter’s level.
Segment Details
Earnings in the Water segment were 23 cents per share, down 30% from 33 cents in the prior-year quarter. This downside was mainly driven by increased operating expenses.
Earnings in the Electric segment of 7 cents per share were on par with the year-ago quarter’s reading as higher operating revenues were offset by increased operating expenses.
Earnings in the Contracted Services segment were 8 cents per share, down 33% from 12 cents in the year-ago quarter due to a decline in the timely construction activity.
Financial Update
As of Mar 31, 2022, AWR’s cash and cash equivalents were $10.1 million compared with $4.9 million as of Dec 31, 2021.
As of Mar 31, 2022, American States Water’s long-term debt was $412.1 million compared with $412.2 million as of Dec 31, 2021.
Zacks Rank
American States Water currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Global Water Resources (GWRS - Free Report) is slated to report first-quarter 2022 earnings on May 5 before market open. Global Water Resources’ long-term earnings growth is currently pegged at 15%.
The Zacks Consensus Estimate for GWRS’ 2023 earnings implies year-over-year growth of 25%.
Essential Utilities Inc. (WTRG - Free Report) is slated to report first-quarter 2022 earnings on May 9 after market close. The Zacks Consensus Estimate for Essential Utilities’ first-quarter EPS is pegged at 74 cents.
Essential Utilities’ long-term earnings growth is currently pegged at 6.1%.The Zacks Consensus Estimate for WTRG’s 2022 earnings implies year-over-year growth of 6.6%.
Consolidated Water (CWCO - Free Report) is slated to report first-quarter 2022 earnings on May 16 before market open. The Zacks Consensus Estimate for Consolidated Water’s first-quarter EPS is pegged at 9 cents.
Consolidated Water’s long-term earnings growth is currently pegged at 8%. The Zacks Consensus Estimate for CWCO’s 2022 earnings implies year-over-year growth of 130.4%.