American States Water Q3 Earnings Miss Estimates, Revenues Rise Y/Y

American States Water Company AWR reported third-quarter 2024 operating earnings per share (EPS) of 95 cents, which lagged the Zacks Consensus Estimate of 99 cents by 4%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.AWR’s Total Revenues Operating revenues came in at $161.8 million, which outpaced the Zacks Consensus Estimate of $161 million by 0.5%. The top line also rose 6.6% from $151.7 million reported in the prior-year period.American States Water Company Price, Consensus and EPS Surprise American States Water Company price-consensus-eps-surprise-chart | American States Water Company QuoteHighlights of AWR’s Release Operating expenses in the quarter totaled $106.7 million, up 6.8% from the year-ago quarter’s $99.9 million. This was due to higher water purchased for pumping expenses, administrative and general costs and other operation costs.The operating income totaled $55.1 million, up 6.4% from $51.8 million recorded in the corresponding period of 2023.Interest expenses amounted to $13.2 million, up 13.1% year over year. Interest income totaled $1.7 million, down 18.2% year over year.AWR’s Segmental Details Earnings from the Water segment came in at 84 cents per share, up 16.7% from 72 cents a year ago.EPS from the Electric segment was 2 cents, down by 2 cents from the year-ago quarter’s level.EPS from the Contracted Services segment was 11 cents, down 8.3% year over year.The loss from AWR (Parent) was 2 cents per share, in line with the year-ago quarter’s loss.AWR’s Financial Update As of Sept. 30, AWR’s cash and cash equivalents totaled $16.5 million compared with $14.1 million as of Dec. 31, 2023.As of Sept. 30, the company’s long-term debt was $640.2 million compared with $575.6 million as of Dec. 31, 2023.In the first nine months of 2024, cash provided by operating activities totaled $134.2 million compared with $56.5 million in the year-ago period.AWR’s Zacks Rank American States Water currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Releases Essential Utilities Inc. WTRG delivered a third-quarter 2024 operating EPS of 25 cents, which beat the Zacks Consensus Estimate of 23 cents by 8.7%.Operating revenues of $435 million surpassed the Zacks Consensus Estimate of $420 million by 3.8%. Total revenues were up 5.8% year over year.California Water Service Group CWT recorded third-quarter 2024 adjusted earnings of $1.03 per share, which lagged the Zacks Consensus Estimate of $1.09 per share by 5.5%. However, the bottom line increased from the year-ago quarter’s figure of 60 cents.Operating revenues totaled $299.6 million, which surpassed the Zacks Consensus Estimate of $269 million by 11.6%. The top line also increased 17.5% from $255 million recorded in the prior-year quarter.American Water Works Company AWK posted a third-quarter 2024 operating EPS of $1.80, which lagged the Zacks Consensus Estimate of $1.84 by 2.2%. The bottom line improved 8.4% from the year-ago quarter's $1.66.Total quarterly revenues of $1.32 billion surpassed the Zacks Consensus Estimate of $1.2 billion by 9.8%. The top line also increased 13.4% from the year-ago figure of $1.16 billion.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Water Works Company, Inc. (AWK): Free Stock Analysis Report California Water Service Group (CWT): Free Stock Analysis Report American States Water Company (AWR): Free Stock Analysis Report Essential Utilities Inc. (WTRG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks