AWR reports Q2 adjusted EPS up 30% to $0.83; raises dividend 8.2%

AMERICAN STATES WATER CO

2023-Q2 EPS reported $1.97 revenue$318,823,000

Q2 2023 reported EPS $1.04 vs $0.54 YoY; adjusted EPS $0.83 vs $0.64 (+30%).
CPUC final decisions in June for water rate case and cost of capital; retroactive 2022 rates added $0.38/sh to YTD EPS.
Dividend increased 8.2% to $0.43/sh payable Sept 1, 2023; 69th consecutive annual increase.
Water segment adjusted earnings up 40% to $0.70/sh on new 2023 rates; electric segment down $0.01/sh.
Contracted services segment guides $0.45-$0.49/sh for full 2023 year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERICAN STATES WATER CO reported the second quarter ended June 30, 2023 results: revenue $9.3 million, EPS $1.04.

Period: the second quarter ended June 30, 2023
Revenue: $9.3 million
EPS: $1.04
Result: reported results

Exact text from the filing

that implemented the new cost of capital effective July 31, 2023. As a result, the three months ended June 30, 2023 recorded results include an increase in water revenues of $9.3 million, or $0.18 per share, from the reversal of revenues subject to refund due to a change in estimates from what had been recorded during 2022 and the first quarter of 2023, whereas

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Source: SEC EDGAR

accession 0001628280-23-027807

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