American States Water (AWR) Q3 Earnings & Revenues Miss Mark
American States Water Company AWR reported third-quarter 2020 operating earnings of 72 cents per share, which missed the Zacks Consensus Estimate of 75 cents by 4%. Also, the bottom line improved 4.3% from year-ago quarter’s adjusted earnings of 69 cents.
Total Revenues
Operating revenues of $133.7 million missed the Zacks Consensus Estimate of $136 million by 1.7%. Also, the top line dipped 0.6% from $134.5 million in the prior-year quarter. Total revenues decreased primarily due to lower revenues in Electric and Contracted services segments.
Operational Update
In the quarter under review, American States Water’s total operating expenses were $93.9 million, up 2.3% year over year.
Operating income was $39.8 million, down 6.8% year over year.
Interest expenses were $6.2 million, down 1.9% year over year. Also, interest income was $0.3 million, down from $0.8 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 57 cents, up from 53 cents in the prior-year quarter.
Earnings in the Electric segment of 4 cents were up from 3 cents in the year-ago quarter.
Earnings in the Contracted Services segment were 10 cents, down from 12 cents in the year-ago quarter.
Financial Update
As of Sep 30, 2020, American States Water’s cash and cash equivalents were $8.1 million compared with $1.3 million as of Dec 31, 2019.
As of Sep 30, 2020, the company’s long-term debt wa s$440.3 million, up from $281 million as of Dec 31, 2019.
Zacks Rank
American States Water currently has a Zacks Rank #3 (Hold).You can see .
Upcoming Releases
American Water Works Company, Inc. will post third-quarter 2020 earnings on Nov 4, 2020. The Zacks Consensus Estimate is pegged at $1.38 per share.
California Water Service Group will post third-quarter 2020 earnings on Nov 6, 2020. The Zacks Consensus Estimate is pegged at $1.14 per share.
Consolidated Water Co. Ltd. will post third-quarter 2020 earnings on Nov 10, 2020. The Zacks Consensus Estimate is pegged at 15 cents per share.
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