American States Water Company (AWR - Free Report) reported third-quarter 2017 earnings of 57 cents per share, missing the Zacks Consensus Estimate of 58 cents by 1.7% and down by 3.4% from 59 cents in the year-ago period.
The decrease in the quarterly earnings was primarily due to lower contribution from its water segment.
The company’s operating revenues were $124.4 million, missing the Zacks Consensus Estimate of $127 million by 2%. Revenues inched up 0.49% year over year.
In the quarter under review, American States Water’s total operating expenses were $85.9 million, up 1.94% year over year.
Interest expenses were $5.78 million, up 0.78% year over year.
Earnings at Water segment were 44 cents, down 6.3% from 47 cents year over year.
Earnings at Electric segment were 3 cents, surging 50% year over year. This was primarily due low effective income tax rate for the segment.
Earnings at Contracted Services segments were 10 cents, in line with the year-ago period.
As of Sep 30, American States Water’s cash and cash equivalents were $6.67 million compared with $2.79 million in the year-ago period.
The company’s long-term debts amounted to $320.9 million, compared with nearly $321 million as of Dec 31, 2016.
In first nine months of 2017, net cash from operating activities was $120.2 million, up from $77.5 million in the year-ago period.
American States Water currently has a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Peer Releases
Connecticut Water Service, Inc. (CTWS - Free Report) is expected to release its 2017 third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the quarter is pegged at 88 cents.
Consolidated Water Co. Ltd. (CWCO - Free Report) is expected to release its 2017 third-quarter earnings on Nov 10. The Zacks Consensus Estimate for the quarter is pegged at 14 cents.
Global Water Resource Inc. (GWRS - Free Report) is expected to its release 2017 third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the quarter is pegged at 4 cents.
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