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American States Water (AWR) Misses Q3 Earnings Estimates

American States Water Company AWR reported third-quarter 2017 earnings of 57 cents per share, missing the Zacks Consensus Estimate of 58 cents by 1.7% and down by 3.4% from 59 cents in the year-ago period.

The decrease in the quarterly earnings was primarily due to lower contribution from its water segment.

Total Revenues

The company’s operating revenues were $124.4 million, missing the Zacks Consensus Estimate of $127 million by 2%. Revenues inched up 0.49% year over year.

Operational Update

In the quarter under review, American States Water’s total operating expenses were $85.9 million, up 1.94% year over year.

Interest expenses were $5.78 million, up 0.78% year over year.

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Segment Details

Earnings at Water segment were 44 cents, down 6.3% from 47 cents year over year.

Earnings at Electric segment were 3 cents, surging 50% year over year. This was primarily due low effective income tax rate for the segment.

Earnings at Contracted Services segments were 10 cents, in line with the year-ago period.

Financial Update

As of Sep 30, American States Water’s cash and cash equivalents were $6.67 million compared with $2.79 million in the year-ago period.

The company’s long-term debts amounted to $320.9 million, compared with nearly $321 million as of Dec 31, 2016.

In first nine months of 2017, net cash from operating activities was $120.2 million, up from $77.5 million in the year-ago period.

Zacks Rank

American States Water currently has a Zacks Rank #2 (Buy).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Peer Releases

Connecticut Water Service, Inc. CTWS is expected to release its 2017 third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the quarter is pegged at 88 cents.

Consolidated Water Co. Ltd. CWCO is expected to release its 2017 third-quarter earnings on Nov 10. The Zacks Consensus Estimate for the quarter is pegged at 14 cents.

Global Water Resource Inc. GWRS is expected to its release 2017 third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the quarter is pegged at 4 cents.

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American States Water Company (AWR): Free Stock Analysis Report
 
Global Water Resources, Inc. (GWRS): Free Stock Analysis Report
 
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