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American States Water's (AWR) Earnings Beat Estimates in Q4

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American States Water Company (AWR - Free Report) generated fourth-quarter 2019 operating earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 41 cents by 9.8%. Further, the bottom line rallied 21.6% from 37 cents in the year-ago quarter.

In 2019, earnings came in at $2.24 per share compared with $1.72 in 2018.

Total Revenues

Operating revenues amounted to $113 million, which missed the Zacks Consensus Estimate of $117 million by 3.4%. However, the top line inched up 1.8% from $111 million in the prior-year quarter. Total revenues increased primarily on the back of higher revenues in the Water and Electric segments.

In 2019, the company delivered revenues of $473.9 million compared with $436.8 million in 2018.

American States Water Company Price, Consensus and EPS Surprise

 

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 $88.3 million, up 0.01% year over year.

Interest expenses were $5.7 million, up 3.5% year over year. Also, interest income was $0.6 million, down from $1.7 million in the prior-year quarter.

Segment Details

Earnings in the Water segment were 28 cents, up from 17 cents in the prior-year quarter.

Earnings in the Electric segment amounted to 5 cents, up from 3 cents in the year-ago quarter.

Earnings in the Contracted Services segment were 12 cents, which declined 33.3% from the year-ago quarter’s tally.

Financial Update

As of Dec 31, 2019, American States Water’s cash and cash equivalents were $1.3 million compared with $7.1 million as of Dec 31, 2018.

As of Dec 31, 2019, the company’s long-term debts were $280.9 million compared with $281 million as of Dec 31, 2018.

Recent Water Utility Release

American Water Works Company (AWK - Free Report) posted fourth-quarter 2019 earnings of 73 cents per share, in line with the Zacks Consensus Estimate.

Upcoming Water Utility Releases

SJW Group (SJW - Free Report) is scheduled to release fourth-quarter 2019 results on Feb 26. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 33 cents per share.

California Water Service Group (CWT - Free Report) is slated to release fourth-quarter 2019 financial numbers on Feb 27. The Zacks Consensus Estimate for quarterly earnings is at 33 cents.

Zacks Rank

American States Water carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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