NYSE$AWR
American States Water Company · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported a 20% increase in consolidated diluted EPS over Q4 2019, with contributions from all operating business segments.
American States Water Company reported an increase in basic and fully diluted earnings per share for the fourth quarter ended December 31, 2020, compared to the same period in 2019. The diluted earnings per share increased from $0.45 to $0.54.
- Consolidated diluted earnings per share increased to $0.54 from $0.45 year-over-year.
- Water segment diluted earnings increased to $0.32 per share, up from $0.28 in the prior year.
- Electric segment diluted earnings increased to $0.07 per share, compared to $0.05 in the same period of 2019.
- Contracted services segment diluted earnings increased to $0.17 per share, up from $0.12 year-over-year, driven by an increase in construction activity.
Headline financials
Revenue & EPS history
American States Water · Revenue · Quarterly
$124M
Revenue by segment
American States Water · $124M total across 3 segments · Q4 2020
- Water$73.4M+2.4%59.1%
- Contracted Services$40.7M+28.1%32.7%
- Electric$10.1M+6.0%8.1%
Forward guidance
GSWC's pending water rate case application was filed in July 2020 prior to this effective date. GSWC’s next general rate case application will be filed in 2023 to establish new rates for the years 2025 – 2027 and, based on the August 27, 2020 decision, may not include the WRAM or MCBA for those years.
Tailwinds
- GSWC is entitled to keep the use of the Water Revenue Adjustment Mechanism (WRAM)
- GSWC is entitled to keep the Modified Cost Balancing Account (MCBA) through the year 2024.
- Utilities in California required to file transition plans to address the eventual discontinuance of the emergency customer protections.
- AWR's Board of Directors approved a first quarter dividend of $0.335 per share on AWR's Common Shares.
- AWR has paid dividends on its Common Shares for over 81 consecutive years, and has increased the dividends received by shareholders each calendar year for 66 consecutive years
Headwinds
- GSWC’s next general rate case application will be filed in 2023 to establish new rates for the years 2025 – 2027 and, based on the August 27, 2020 decision, may not include the WRAM or MCBA for those years.
- COVID-19 pandemic continues to cause significant volatility in the financial markets.
- The resolution also extended the COVID-19-related memorandum accounts established to track incremental costs associated with complying with the resolution
- Procedural hearing held in GSWC’s pending water general rate case that will set new rates for the years 2022 – 2024.
- The CPUC adopted a resolution that extended the existing emergency customer protections previously established by the CPUC through June 30, 2021, including the suspension of service disconnections for non-payment, in response to the on-going COVID-19 pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.0%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+0.3%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+5.0%
Q2 2012
Best reaction
-5.3%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | +2.4% | +3.3% | |
| Q4 2025 | +0.4% | +0.7% | -1.4% | |
| Q3 2025 | +1.2% | +2.4% | -1.2% | |
| Q1 2025 | +0.8% | -4.3% | -3.7% | |
| Q4 2024 | +1.0% | +4.1% | +1.2% | |
| Q3 2024 | -0.2% | +1.9% | -3.1% | |
| Q2 2024 | +1.2% | -1.1% | -0.6% | |
| Q1 2024 | +3.3% | +5.3% | -1.6% | |
| Q4 2023 | -3.2% | -5.5% | -6.7% | |
| Q3 2023 | -2.9% | -6.5% | -0.6% | |
| Q2 2023 | +2.5% | +3.6% | -4.9% | |
| Q1 2023 | -0.9% | +0.3% | +0.4% | |
| Q4 2022 | -5.1% | -3.9% | -0.5% | |
| Q3 2022 | +1.0% | +4.0% | +8.4% | |
| Q2 2022 | +1.3% | +0.8% | -4.8% | |
| Q1 2022 | -2.9% | -3.5% | +0.9% | |
| Q4 2021 | -2.7% | -3.3% | +0.8% | |
| Q3 2021 | -0.1% | +3.8% | +3.6% | |
| Q2 2021 | +0.9% | +2.7% | +6.3% | |
| Q1 2021 | +1.0% | +0.4% | -0.4% | |
| Q4 2020 | -2.2% | -6.3% | -4.8% | |
| Q3 2020 | +0.8% | -2.3% | -0.2% | |
| Q2 2020 | -1.1% | +3.9% | +0.5% | |
| Q1 2020 | +0.2% | -2.6% | +4.8% | |
| Q4 2019 | -2.8% | -15.1% | -14.6% | |
| Q3 2019 | -3.9% | -9.6% | -9.3% | |
| Q2 2019 | -0.1% | +7.7% | +20.7% | |
| Q1 2019 | -0.0% | +0.8% | +4.7% | |
| Q4 2018 | -1.8% | -1.2% | +0.4% | |
| Q3 2018 | +4.9% | +5.5% | +7.8% | |
| Q2 2018 | +0.7% | -0.7% | +2.2% | |
| Q1 2018 | -3.5% | -0.9% | -2.6% | |
| Q4 2017 | -0.4% | -6.0% | -3.7% | |
| Q3 2017 | -0.7% | -1.6% | +4.5% | |
| Q2 2017 | -0.4% | +1.6% | -2.1% | |
| Q1 2017 | +1.3% | +0.7% | +5.1% | |
| Q4 2016 | +1.1% | +0.7% | -2.0% | |
| Q3 2016 | +1.1% | +1.1% | +11.0% | |
| Q2 2016 | -2.0% | -0.6% | -7.7% | |
| Q1 2016 | -5.3% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | +1.0% | — | — | |
| Q2 2015 | -2.1% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | -2.5% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | -3.0% | — | — | |
| Q4 2013 | +3.3% | — | — | |
| Q3 2013 | +1.4% | — | — | |
| Q2 2013 | -3.4% | — | — | |
| Q1 2013 | -2.3% | — | — | |
| Q4 2012 | +3.2% | — | — | |
| Q3 2012 | +3.2% | — | — | |
| Q2 2012 | +5.0% | — | — | |
| Q1 2011 | +3.5% | — | — | |
| Q1 2012 | -1.4% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q3 2011 | +0.2% | — | — | |
| Q3 2010 | +0.2% | — | — | |
| Q2 2011 | +3.7% | — | — | |
| Q2 2010 | +3.7% | — | — | |
| Q4 2010 | +3.7% | — | — | |
| Q1 2010 | +0.5% | — | — |
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