American States Water (AWR) Q4 Earnings Top, Revenues Lag

By Zacks Investment ResearchStock MarketsFeb 26, 2018 08:33PM ET

www.investing.com/analysis/american-states-water-awr-q4-earnings-top-revenues-lag-200294652

American States Water (AWR) Q4 Earnings Top, Revenues Lag

By Zacks Investment Research | Feb 26, 2018 08:33PM ET

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American States Water Company (NYSE:AWR) delivered fourth-quarter 2017 earnings of 36 cents per share, surpassing the Zacks Consensus Estimate of 35 cents by 2.7%. Further, the figure improved by 20% from 30 cents in the year-ago period.

On a GAAP basis, American States Water’s reported earnings of 35 cents per share, up from 30 cents a year ago. The difference between GAAP and adjusted earnings was primarily due to the effects of the tax reform.

Total Revenues

The company’s operating revenues were $104.2 million, missing the Zacks Consensus Estimate of $109 million by 4.4%. Revenues dipped 2.4% year over year. Total revenues were down primarily due to lower revenues generated by Contracted Services segment.

American States Water Company Price, Consensus and EPS Surprise

American States Water Company Price, Consensus and EPS Surprise | American States Water Company Quote

Operational Update

In the quarter under review, American States Water’s total operating expenses were $82.2 million, down 2.9% year over year.

Interest expenses were $4.9 million, down 1.2% year over year. Similarly interest income were $0.59 million, three fold increase year over year.

Segment Details

Earnings at Water segment were 21 cents, up 61.5% from 13 cents year over year.

Earnings at Electric segment were 2 cents, down 50% year over year.

Earnings at Contracted Services segments were 11 cents, down 15.4% compared with year-ago period.

Earnings at AWR (parent) were 2 cents, up 100% compared with prior-year period.

Financial Update

As of Dec 31, American States Water’s cash and cash equivalents were $0.21 million compared with $0.44 million in the year-ago period.

The company’s long-term debts remained flat at $321 million, compared with amount as of Dec 31, 2016.

In 2017, net cash from operating activities was $144.6 million, up from $96.9 million in the year-ago period.

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.

Upcoming Peer Releases

Connecticut Water Service, Inc. (NASDAQ:CTWS) is expected to release 2017 fourth-quarter earnings on March 12. The Zacks Consensus Estimate for the quarter is pegged at 21 cents.

Consolidated Water Co. Ltd. (NASDAQ:CWCO) is scheduled to release 2017 fourth-quarter earnings on March 15. The Zacks Consensus Estimate for the quarter is pegged at 18 cents.

Global Water Resource Inc. (NASDAQ:GWRS) is anticipated to release 2017 fourth-quarter earnings on March 9. The Zacks Consensus Estimate for the quarter is pegged at 1 cent.

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Consolidated Water Co. Ltd. (CWCO): Free Stock Analysis Report

American States Water Company (AWR): Free Stock Analysis Report

Global Water Resources, Inc. (GWRS): Free Stock Analysis Report

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American States Water (AWR) Q4 Earnings Top, Revenues Lag

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