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 (NYSE: AWR) generates regular news flow as a regulated utilities holding company with water, electric and contracted services operations. Its updates often center on decisions by the California Public Utilities Commission (CPUC), earnings results by business segment and developments in its long-term contracts serving U.S. military installations.
News about the water utility segment, operated by Golden State Water Company, frequently covers CPUC general rate case decisions, step rate increases and changes to revenue and cost balancing mechanisms such as the Monterey-style Water Revenue Adjustment Mechanism and incremental cost balancing accounts. Releases also describe authorizations to provide water service to new planned communities in California and CPUC approvals of capital investment programs.
Coverage of the electric utility segment, Bear Valley Electric Service, Inc., includes CPUC decisions on multi-year rate cases, new rates that support wildfire mitigation plans and vegetation management, and the impact of these regulatory outcomes on segment earnings. These items help investors track how regulatory changes affect revenue and cost recovery at the electric utility.
The contracted services segment, operated by American States Utility Services, Inc., appears in news related to construction activity on military bases, management fee revenues, economic price adjustments and the expected earnings contribution of this business under its long-term contracts with the U.S. government. Company releases also highlight awards of additional construction projects tied to these contracts.
Investors following AWR news will also see regular announcements of quarterly and annual dividends, including details on dividend increases and the company’s long record of consecutive annual dividend growth. Earnings releases provide segment-level diluted earnings per share information and commentary on factors such as new rates, capital investments, water supply costs and non-GAAP measures used by management. This news page aggregates these items so readers can review regulatory developments, financial performance and dividend actions affecting AWR over time.
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American States Water Company (NYSE:AWR) announced on April 13, 2023 that its subsidiary, Golden State Water Company (GSWC), received a proposed decision from the California Public Utilities Commission (CPUC) regarding new water rates for 2022-2024. The final decision is anticipated in Q2 2023, with retroactive rates effective from January 1, 2022. This will notably impact 2023 first quarter results. The approved settlement allows GSWC to invest $404.8 million in infrastructure improvements for safe water services. It also includes provisions for potential revenue increases in 2023 and 2024, subject to inflation adjustments. Additionally, GSWC's requests for medical insurance and general liability cost balancing accounts were approved, but the consolidation of two customer service areas was denied. A conference call to discuss the results is scheduled for May 11, 2023.
American States Water Company (NYSE:AWR) reported a decrease in fourth quarter 2022 diluted earnings per share (EPS) to $0.50, down $0.05 from $0.55 in Q4 2021. Full year 2022 EPS fell by $0.44 to $2.11 compared to $2.55 in 2021. The decline is attributed to 2021 water rates still in effect due to delays from the California Public Utilities Commission. Had new rates been approved, EPS could have been $0.38 higher. Additionally, lower investment gains impacted earnings, reflecting a loss of $5.2 million in 2022 versus gains of $4.3 million in 2021, resulting in an effective tax rate drop that slightly benefited net earnings.
American States Water Company (NYSE:AWR) announced its plans to release the financial results for the fourth quarter and full year ending December 31, 2022, after market close on March 1, 2023. A conference call will be held at 2:00 p.m. Eastern Time on March 2, 2023, hosted by CEO Robert Sprowls and CFO Eva Tang, where they will discuss the results and answer questions. The call can be accessed live via www.aswater.com and will be archived for replay from March 2 at 5:00 p.m. through March 9, 2023. American States Water has a long-standing history of paying dividends, maintaining a record of increases for 68 consecutive years.
American States Water Company (NYSE:AWR) has appointed Thomas A. Eichelberger as a director effective
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