| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 181.29 | 7.2% | 11.2% |
| Total Income | 181.29 | 7.2% | 11.2% |
| Expenditure | 117.32 | 0.4% | 4.7% |
| PBT | 57.75 | 45.0% | 31.5% |
| Net Profit | 43.27 | 44.5% | 28.4% |
| OPM | 35.29% | 4.92pp | 4.04pp |
| NPM | 23.87% | 6.17pp | 3.21pp |
| EPS | 1.10 | 44.7% | 26.4% |
American States Water Company Announces Second Quarter 2026 Results
06 Aug 2026 · 6 Aug, 2:03 am
Summary
American States Water Company announced strong second quarter 2026 results, with consolidated diluted earnings per share rising 25.3% year-over-year to $1.09. This growth was primarily driven by increased earnings at the water utility segment, fueled by new customer rate increases, and higher earnings from the contracted services segment due to increased construction activities. The company also highlighted its continued commitment to shareholder returns with an 8.2% increase in its quarterly dividend, its 72nd consecutive annual dividend increase.
Key Highlights
- 1
American States Water Company reported diluted earnings per share of $1.09 for the second quarter ended June 30, 2026, a 25.3% increase compared to $0.87 in the same period of 2025.
- 2
The water utility segment reported diluted earnings of $0.91 per share for Q2 2026, up 24.7% from $0.73 in Q2 2025, driven by CPUC-approved rate increases.
- 3
The contracted services segment's diluted earnings increased to $0.16 per share in Q2 2026 from $0.13 in Q2 2025, benefiting from higher construction activities.
- 4
Consolidated diluted earnings per share for the year-to-date period ended June 30, 2026, were $1.86, an 18.5% increase from $1.57 in the prior year period.
- 5
The company's quarterly dividend was increased by 8.2% to $0.5455 per share, marking the 72nd consecutive year of annual dividend increases.
- 6
Standard & Poor’s affirmed the company’s strong credit ratings of “A” for AWR with a stable outlook and “A+” for its regulated water utility with a stable outlook in July 2026.
Management Comments
Eva G. Tang
American States Water Company (NYSE:AWR) today reported basic and fully diluted earnings per share of $1.10 and $1.09, respectively, for the quarter ended June 30, 2026, as compared to basic and fully diluted earnings per share of $0.87 for the quarter ended June 30, 2025, an increase of $0.22 per fully diluted share or 25.3%, primarily generated from higher earnings at the water utility segment resulting largely from, among other factors, the implementation of new customer rate increases approved by the California Public Utilities Commission (CPUC) as discussed in more detail below. In addition, there was an increase in construction activities that resulted in higher earnings at the contracted services segment. For the six months ended June 30, 2026, AWR’s recorded consolidated diluted earnings were $1.86 per share, as compared to $1.57 per share recorded for the same period in 2025, an increase of $0.29 per share or 18.5%, primarily generated from higher earnings at the water utility segment resulting from, among other factors, the implementation of new customer rate increases approved by the CPUC as previously discussed. In addition, there was an increase in construction activities that resulted in higher earnings at the contracted services segment. AWR’s consolidated diluted earnings for the six months ended June 30, 2026 were negatively impacted by approximately $0.04 per share due to the continued dilutive effects from the issuance of equity under AWR’s ATM offering program. AWR successfully completed the ATM offering program, reaching the maximum aggregate offering capacity of $200 million in gross proceeds raised, and no further sales of Common Shares will be made under this program.
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