Welcome to our dedicated page for Amer States Wtr Co news (Ticker: AWR), a resource for investors and traders seeking the latest updates and insights on Amer States Wtr Co stock.
American States Water Company (AWR) delivers essential utility services through regulated water distribution, electric operations, and specialized government contracts. This news hub provides investors and stakeholders with timely updates on corporate developments impacting California's critical infrastructure.
Access official press releases covering quarterly earnings, regulatory filings with the California Public Utilities Commission, and military base service contract announcements. Our curated collection helps track operational milestones in water resource management, electric service expansions, and long-term infrastructure projects.
Key updates include water rate adjustments approved by state regulators, new military installation service agreements through ASUS subsidiary, and sustainability initiatives across service territories. Bookmark this page for centralized access to strategic announcements affecting one of California's most established utility providers.
American States Water Company (NYSE:AWR) announced a settlement agreement in its water utility general rate case. The agreement, filed on July 12, 2024, between Golden State Water Company (GSWC) and the Public Advocates Office, resolves most issues related to the 2025 annual revenue requirement. Key points include:
1. Authorization for GSWC to invest $573.1 million in capital infrastructure over 2025-2027.
2. Projected increase of $23 million in adopted operating revenues less water supply costs (RLWSC) for 2025.
3. Potential additional revenue increases of $20 million each for 2026 and 2027.
4. Approval of $58.2 million in advice letter capital investments.
Two unresolved issues remain regarding sales forecast and supply mix. The CPUC is expected to issue a decision by the end of 2024, with new rates effective January 1, 2025.
American States Water Company (NYSE: AWR) will release its second quarter financial results for the period ended June 30, 2024, after market close on August 6, 2024.
President and CEO Robert Sprowls, along with CFO Eva Tang, will host a conference call to discuss the results on August 7, 2024, at 2:00 p.m. Eastern Time. The call will include a Q&A session and can be accessed live via the company's website. An archived replay will be available from August 7 at 5:00 p.m. Eastern Time until August 14, 2024.
American States Water Company (NYSE: AWR) announced that the California Supreme Court has vacated a prior decision by the California Public Utilities Commission (CPUC) to end the Water Revenue Adjustment Mechanism (WRAM). The WRAM, in place since 2008, decouples water utilities' revenue from water consumption, promoting conservation through tiered pricing. This mechanism and the tiered rates resulted in a 41.6% reduction in water use per customer by 2023 compared to 2007. AWR had contested the CPUC's 2020 decision along with other water utilities, leading to the favorable ruling. The decision sustains financial stability for AWR, aiding in infrastructure investment and dividend growth.
American States Water Company reported a decrease in earnings per share for the first quarter of 2024 compared to the same period in 2023. The company announced diluted earnings per share of $0.62 for Q1 2024, down from $0.93 in Q1 2023. The decrease was attributed to various factors, including the impact of the water general rate case and estimated revenues subject to refund. AWR's water segment experienced a decrease in diluted earnings, while the electric and contracted services segments also saw declines. The company's parent entity, AWR, reported an increase in losses for Q1 2024. AWR's quarterly dividend rate has been growing steadily, with a compound annual growth rate of 9.4% over the last five years.
American States Water Company (NYSE:AWR) announced a $0.43 per share quarterly dividend, marking the 352nd consecutive dividend payment. Shareholders have seen an increase in their dividend for 69 consecutive years, with a compound annual growth rate of over 7%. The quarterly dividend rate has grown at a 9.4% compound annual growth rate over the last five years.
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