American States Water Company Q2 FY2026 Earnings Call
With Bob Sprowls (President and CEO) and Eva Tang (SVP of Finance and CFO).
About the Company: American States Water Company (AWR) is the parent Company of both Golden State Water Company (GSWC) and American States Utility Services, Inc. (ASUS).
More about American States Water Company
Through Golden State Water Company, AWR provides water service to approximately 258,000 customers located within 75 communities throughout 10 counties in Northern, Coastal and Southern California. The Company also distributes electricity to approximately 24,000 customers in the City of Big Bear and surrounding areas in San Bernardino County, California through the services of Bear Valley Electric Services (BVES). Through its contracted services subsidiary, American States Utility Services, Inc. (ASUS), the Company provides operations, maintenance and construction management services for water and wastewater systems located on military bases throughout the country through 50-year privatization contracts with the U.S. government. American States Water Company has paid dividends to shareholders every year since 1931, increasing the dividends received by shareholders each calendar year since 1954.
1Prepared remarks2 speakers
Thank you, Bailey. Welcome everyone, and thank you for joining us today. I'll begin with a discussion of the quarter. Eva will discuss some financial details, and then I'll wrap it up with updates on regulatory activity, ASUS, and dividends, and then we will take your questions. We are pleased to report an excellent quarter with financial results that reflected strong execution across our business. Company's performance highlights our effective management and the constructive regulatory framework in which the…
Thank you, Bob, and hello, everyone. Let me start on slide seven. As Bob mentioned, we delivered excellent financial results this quarter. Our consolidated earnings were $1.09 per share, compared to $0.87 per share for the second quarter of 2025. Our water utility, Golden State Water, reported earnings of $0.91 per share, compared to $0.73 per share for the second quarter of last year.
The $0.18 per share increase was largely due to new water rates for 2026, including additional revenues associated with approved…
Thank you, Eva. Turning now to updates on the regulatory front, starting with the latest water general rate case application that set new rates for the years 2025 through 2027. In December, Golden State Water received approval from the CPUC to implement its full second year and other rate increases, which were effective January 1st of this year. This approval results in higher adopted operating revenues, less water supply costs for the full year 2026 of $32 million compared to adopted operating revenues, less…