Loading...
•
Dec 31, 2025
American States Water Q4 2025 Earnings Report
American States Water Company reported a slight decrease in diluted EPS for the fourth quarter of 2025, but an increase on an adjusted basis, driven by new customer rates and higher earnings in contracted services.
Key Takeaways
American States Water Company reported diluted earnings per share of $0.74 for the fourth quarter of 2025, a $0.01 decrease compared to the same period in 2024. However, on an adjusted basis, excluding one-time tax benefits and retroactive rates from 2024, diluted EPS increased by $0.18 per share. The company saw increased earnings across all operating business segments for the full year 2025.
Reported consolidated diluted EPS decreased by $0.01 to $0.74 in Q4 2025 compared to Q4 2024.
Adjusted diluted EPS increased by $0.18 per share in Q4 2025, excluding specific one-time tax benefits and retroactive rate impacts from Q4 2024.
The water segment's adjusted diluted EPS increased by $0.11 per share, primarily due to CPUC-authorized new rate increases.
The contracted services business was awarded $29.4 million in new construction projects during 2025, expected to be completed through 2028.
Revenue by Segment
Forward Guidance
American States Water Company anticipates continued growth driven by new customer rates at regulated utilities and ongoing construction activities in its contracted services segment. However, future earnings may be subject to volatility from customer consumption fluctuations and changes in water supply costs.
Positive Outlook
- New customer rates effective January 1, 2025, for the water segment are expected to increase operating revenues by approximately $17.4 million.
- The electric segment anticipates increased revenues from third-year rate increases authorized by the CPUC effective January 1, 2025.
- Additional revenues are expected in the electric segment from advice letter filings for capital projects and recovery of previously incurred costs related to the solar and battery project.
- The contracted services business has been awarded $29.4 million in new construction projects, providing future revenue streams through 2028.
- The company projects to invest $185 million to $225 million in company-funded capital expenditures in 2026.
Challenges Ahead
- GSWC's revenues and earnings may be subject to future volatility from significant fluctuations in customer consumption compared to adopted levels due to the transition to a modified rate adjustment mechanism.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...