American States Water Company (AWR - Free Report) delivered third-quarter 2018 earnings of 62 cents per share, surpassing the Zacks Consensus Estimate of 60 cents by 3.3%. Further, the bottom-line figure improved 8.8% from 57 cents in the year-ago period.
The company’s operating revenues were $124.2 million, missing the Zacks Consensus Estimate of $128 million by 3%. The top line also dipped 0.2% year over year. Total revenues decreased primarily due to lower revenues generated by the Water segment, which was down by nearly 4.6%.
American States Water Company Price, Consensus and EPS Surprise
In the quarter under review, American States Water’s total operating expenses were $90.2 million, up 5% year over year.
Interest expenses were $6 million, up 3% year over year. Similarly, interest income was $0.6 million, soaring 100% year over year.
Earnings at Water segment were 47 cents, up 6.8% from 44 cents year over year.
Earnings at Electric segment were 2 cents, down 33.3% year over year.
Earnings at Contracted Services segments were 13 cents, up 30% compared with the year-ago period.
As of Sep 30, 2018, American States Water’s cash and cash equivalents were $1.98 million compared with $0.21 million as of Dec 31, 2017.
As of Sep 30, 2018, the company’s long-term debts were down at $281 million compared with $321 million as of Dec 31, 2017.
American Water Works (AWK - Free Report) reported third-quarter 2018 operating earnings per share of $1.20, which outpaced the Zacks Consensus Estimate of $1.16 by 3.45%.
Middlesex Water Company (MSEX - Free Report) posted third-quarter 2018 adjusted earnings of 74 cents per share, beating the Zacks Consensus Estimate of 65 cents by 13.85%.
SJW Corporation (SJW - Free Report) released third-quarter 2018 operating earnings per share of $1.08, surpassing the Zacks Consensus Estimate of 96 cents by 12.50%.
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