AWR reports Q2 2024 adjusted EPS $0.85 vs $0.86 YoY; dividend raised 8.3%

AMERICAN STATES WATER CO

2024-Q2 EPS reported $1.47 revenue$290,579,000

Q2 adjusted EPS of $0.85, down $0.01 from $0.86 in Q2 2023; recorded EPS fell from $1.04 on a prior-year one-time benefit.
Water segment adjusted EPS fell $0.06 to $0.67; electric segment EPS decreased $0.02 on higher costs and pending rate case.
Contracted services EPS rose $0.07 to $0.19, driven by new military base operations and favorable economic price adjustments.
Quarterly dividend increased 8.3% to $0.4655 per share, payable September 3, 2024; marks 70th consecutive annual increase.
Water utility reached settlement agreement for 2025-2027 rates authorizing $573.1 million in capital investment.

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