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. 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.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>