American States Water Company
) reported first-quarter 2013 earnings of 69 cents per share,
outpacing the year-ago figure of 53 cents by 30.2%. The results
were 19 cents or 38% higher than the Zacks Consensus Estimate of
Earnings during the quarter benefited from strong performance
from the Water segment, which grew by 82.1%. Soft results from
Electric and Contracted Services segments marginally offset the
First-quarter revenues of $110.5 million were up 3.4% from $106.9
million in the year-ago quarter and also surpassed the Zacks
Consensus Estimate of $107.0 million by 3.3%.
The top-line results benefited from the favorable water rate case
at AWR's subsidiary, Golden State Water Company ("GSWC"). The new
approval will result in an additional $10 million of revenues in
Highlights of the Release
Total operating expenses in the reported quarter decreased 1.2%
to $82.6 million, mainly due to a fall in other operating
expenses by 26.6%.
Operating income in the reported quarter was $27.9 million, up
19.2% from the year-ago quarter.
Interest expenses decreased 4.8% to $5.8 million from $6.1
million in the first quarter of 2012.
Other Company Releases
American Water Works Company Inc.
) reported first-quarter earnings per share of 32 cents, lagging
the Zacks Consensus Estimate of 34 cents by 5.9%.
Aqua America, Inc.
) announced first-quarter 2013 operating earnings of 29 cents per
share, 7.4% above the Zacks Consensus Estimate of 27 cents.
Connecticut Water Service, Inc.
) reported first-quarter earnings per share of 24 cents, beating
the Zacks Consensus Estimate by a penny.
American States Water Company once again surpassed our quarterly
estimates, making it five quarters in a row. Cost control and
favorable rate decision boosted the results of the company.
Consistent investment to develop and maintain its infrastructure
will enable American States Water Company to serve its customer
better providing them with safe and reliable drinking water.
Based in San Dimas, California, American States Water Company was
founded in 1929. The company caters to customers in the United
States and distributes water, electricity and other allied
services. The market capital of this company is $1.05
billion and it has 728 employees. American States Water Company
currently has a Zacks Rank #2 (Buy).
AMER WATER WORK (AWK): Free Stock Analysis
AMER STATES WTR (AWR): Free Stock Analysis
CONN WATER SVC (CTWS): Free Stock Analysis
AQUA AMER INC (WTR): Free Stock Analysis
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