Amer States Wtr Co Stock Price, News & Analysis

American States Water Company (NYSE:AWR) has received approval from the California Public Utilities Commission (CPUC) to defer the cost of capital application for its subsidiary, Golden State Water Company (GSWC). The CPUC approved postponing the filing date from May 1, 2025, to May 1, 2026, with an effective date of January 1, 2027.

The current Water Cost of Capital Mechanism will remain in place during the deferral period. GSWC's authorized rate of return on rate base will continue at 7.93% through December 31, 2026, based on a weighted cost of capital that includes a 10.06% return on equity, 5.1% embedded cost of debt, and a capital structure comprising 57% equity and 43% debt.

American States Water Company (NYSE:AWR) received a final decision from the California Public Utilities Commission (CPUC) on January 16, 2025, regarding the general rate case for its subsidiary Bear Valley Electric Service (BVES). The decision, consistent with the proposed decision from December 12, 2024, adopts a full settlement agreement setting new electric rates for 2023-2026.

The new rates will be implemented effective March 1, 2025, with retroactive adjustments dating back to January 1, 2023. BVES will file for recovery of retroactive amounts through February 28, 2025, and seek recovery of incremental operating costs related to wildfire mitigation plans within 90 days of the decision's effective date. The financial impact will be detailed in AWR's Q4 2024 earnings release and 2024 Form 10-K.

American States Water Company (NYSE:AWR) received a proposed decision from the California Public Utilities Commission (CPUC) regarding its electric utility subsidiary, Bear Valley Electric Service (BVES). The decision, scheduled for vote on January 16, 2025, adopts a settlement agreement for new electric rates from 2023-2026. Key points include: $75.6 million authorized for capital infrastructure investment, a 10.0% return on equity, 5.51% cost of debt, and a 57% equity/43% debt capital structure. The new rates will be retroactive to January 1, 2023, with the impact expected to be reflected in Q4 2024 results. The agreement also approves recovery of capital expenditures and operating costs related to wildfire mitigation plans.

American States Water Company (NYSE:AWR) received a proposed decision from the California Public Utilities Commission (CPUC) regarding its water utility subsidiary's general rate case for 2025-2027. The decision approves a settlement agreement authorizing $573.1 million in capital infrastructure investments over three years, plus $58.2 million in ongoing advice letter capital investments. The proposal adopts GSWC's sales forecast and a compromise on supply mix, but rejects requests for full sales and revenue decoupling mechanism, transitioning instead to a modified rate adjustment mechanism. New rates will be effective January 1, 2025, with additional increases for 2026 and 2027 subject to earnings tests and inflation adjustments.

American States Water Company (NYSE: AWR) reported Q3 2024 earnings of $0.95 per share, up from $0.85 in Q3 2023. The increase was primarily driven by the water utility segment, which contributed a $0.12 per share gain. The company's regulated utilities secured settlement agreements for water and electric rate cases, authorizing nearly $650 million in capital investments. The contracted services business is projected to contribute $0.54-$0.57 per share for full-year 2024 and has secured $54 million in new construction projects. AWR increased its quarterly dividend by 8.3%, marking the 70th consecutive year of dividend increases.

American States Water Company (NYSE:AWR) has declared a quarterly dividend of $0.4655 per share, marking its 354th consecutive dividend payment. The company has maintained an unbroken streak of dividend payments since 1931 and has increased dividends annually for 70 consecutive years. The dividend growth shows a compound annual growth rate (CAGR) of 8.8% over the past five years and is targeting an 8.0% CAGR for the ten-year period ending 2024. The dividend will be paid on December 2, 2024, to shareholders of record as of November 15, 2024.

American States Water Company (NYSE:AWR) has announced its plan to release third quarter 2024 financial results after market close on November 6, 2024. The company will host a conference call to discuss these results on November 7, 2024, at 2:00 p.m. Eastern Time (11:00 a.m. Pacific Time). Robert Sprowls, president and CEO, and Eva Tang, senior VP and CFO, will lead the call, which will include a question and answer session.

Interested parties can access the live conference call and accompanying slides at www.aswater.com. The call will be archived on the website for replay from November 7, 2024, at 5:00 p.m. Eastern Time until November 14, 2024.

American States Water Company (NYSE:AWR) reported Q2 2024 earnings of $0.85 per share, compared to $1.04 in Q2 2023. Adjusted earnings for Q2 2023 were $0.86 per share, excluding a $0.18 per share reversal of previously recorded revenues. Key highlights include:

1. AWR's water utility reached a settlement agreement for new water rates for 2025-2027, authorizing $573.1 million in capital investment.

2. Quarterly dividend increased by 8.3%, marking the 70th consecutive year of dividend increases.

3. Contracted services subsidiary began operations at two new military bases in April 2024.

4. Water segment earnings decreased, while contracted services segment earnings increased.

5. Full-year 2024 guidance for contracted services segment is $0.50 to $0.54 per share.

American States Water Company (NYSE:AWR) has announced an 8.3% increase in its quarterly cash dividend to $0.4655 per share, up from $0.4300. This raises the annualized dividend rate to $1.862 per share. The company has paid dividends for 353 consecutive quarters and increased them annually for 70 consecutive years. Over the past five years, AWR's quarterly dividend has grown at a compound annual growth rate (CAGR) of 8.8%. The company aims to maintain a long-term dividend CAGR of over 7%. This increase reflects the Board's confidence in AWR's financial strength and sustainable earnings growth potential.