American States Water Q1 EPS Up 8.6% to $0.76 on $169.2M Revenue
American States Water Co. reported first-quarter profit of $29.9 million, or 76 cents per share, on revenue of $169.2 million. EPS rose 8.6% year-over-year thanks to higher earnings in water and electric utility segments driven by recently implemented customer rate increases.
1. Q1 Financial Results
American States Water Co. posted first-quarter profit of $29.9 million, or $0.76 per share, compared to $0.70 a year earlier, on revenue of $169.2 million reflecting steady utility demand.
2. Segment Performance
Higher earnings in both water and electric utility segments drove results. The water business saw increased volumetric sales, while the electric segment benefited from improved rate margins.
3. Rate Increase Impact
New customer rate increases approved by California regulators took effect during the quarter, accounting for the majority of the 8.6% year-over-year EPS gain.
4. Share Performance
Shares have risen nearly 5% year-to-date but remain down about 6% over the past 12 months, reflecting mixed investor sentiment.