American States Water Company AWR reported first-quarter 2021 operating earnings of 52 cents per share, which surpassed the Zacks Consensus Estimate of 48 cents by 8.3%. Also, the bottom line improved 36.8% from the year-ago quarter’s earnings of 38 cents per share.Total RevenuesOperating revenues of $117.1 million beat the Zacks Consensus Estimate of $114 million by 2.7%. Also, the top line improved 7.3% from $109.1 million in the prior-year quarter.American States Water Company Price, Consensus and EPS Surprise American States Water Company price-consensus-eps-surprise-chart | American States Water Company QuoteOperational UpdateIn the quarter under review, American States Water’s total operating expenses were $86.7 million, up 4% year over year. This can primarily be attributed to increase in water purchased, power purchased for pumping, power purchased for resale and groundwater production assessment expenses.Operating income was $30.3 million, up 18% year over year.Interest expenses were $6.3 million, up 3.4% year over year. Interest income was $0.5 million, down 18.5% from the prior-year quarter.Segment DetailsEarnings in the Water segment were 33 cents per share, up from 24 cents in the prior-year quarter. This upside was mainly driven by a higher water gross margin, resulting from new rates authorized by the California Public Utilities Commission.Earnings in the Electric segment of 7 cents per share were up from 6 cents in the year-ago quarter. The rise was owing to a higher electric gross margin along with lower interest expenses.Earnings in the Contracted Services segment were 12 cents per share, up from 8 cents in the year-ago quarter. This was led by a ramped-up construction activity and a decline in legal and other outside services costs.Financial UpdateAs of Mar 31, 2021, American States Water’s cash and cash equivalents were $7 million compared with $36.7 million as of Dec 31, 2020.As of Mar 31, 2021, the company’s long-term debt was $440.3 million, on par with the figure as of Dec 31, 2020.Zacks RankAmerican States Water currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Utility ReleasesCalifornia Water Service CWT incurred first-quarter 2021 loss of 6 cents per share, wider than the Zacks Consensus Estimate of a loss of 3 cents by 100%.NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.FirstEnergy Corporation FE delivered first-quarter 2021 operating earnings of 69 cents per share, which beat the Zacks Consensus Estimate of 68 cents by 1.5%.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>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 FirstEnergy Corporation (FE): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report American States Water Company (AWR): Free Stock Analysis Report California Water Service Group (CWT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research