American States Water Company (NYSE:AWR) generated fourth-quarter 2019 operating earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 41 cents by 9.8%. Further, the bottom line rallied 21.6% from 37 cents in the year-ago quarter.
In 2019, earnings came in at $2.24 per share compared with $1.72 in 2018.
Total Revenues
Operating revenues amounted to $113 million, which missed the Zacks Consensus Estimate of $117 million by 3.4%. However, the top line inched up 1.8% from $111 million in the prior-year quarter. Total revenues increased primarily on the back of higher revenues in the Water and Electric segments.
In 2019, the company delivered revenues of $473.9 million compared with $436.8 million in 2018.
Operational Update
In the quarter under review, American States Water’s total operating expenses were $88.3 million, up 0.01% year over year.
Interest expenses were $5.7 million, up 3.5% year over year. Also, interest income was $0.6 million, down from $1.7 million in the prior-year quarter.
Segment Details
Earnings in the Water segment were 28 cents, up from 17 cents in the prior-year quarter.
Earnings in the Electric segment amounted to 5 cents, up from 3 cents in the year-ago quarter.
Earnings in the Contracted Services segment were 12 cents, which declined 33.3% from the year-ago quarter’s tally.
Financial Update
As of Dec 31, 2019, American States Water’s cash and cash equivalents were $1.3 million compared with $7.1 million as of Dec 31, 2018.
As of Dec 31, 2019, the company’s long-term debts were $280.9 million compared with $281 million as of Dec 31, 2018.
Recent Water Utility Release
American Water Works Company (NYSE:AWK) posted fourth-quarter 2019 earnings of 73 cents per share, in line with the Zacks Consensus Estimate.
Upcoming Water Utility Releases
SJW Group (NYSE:SJW) is scheduled to release fourth-quarter 2019 results on Feb 26. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 33 cents per share.
California Water Service Group (NYSE:CWT) is slated to release fourth-quarter 2019 financial numbers on Feb 27. The Zacks Consensus Estimate for quarterly earnings is at 33 cents.
Zacks Rank
American States Water carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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American States Water Company (AWR): Free Stock Analysis Report
American Water Works Company, Inc. (AWK): Free Stock Analysis Report
California Water Service Group (CWT): Free Stock Analysis Report
SJW Group (SJW): Free Stock Analysis Report
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