American States Water Company (NYSE: AWR) reported diluted earnings per share of $0.74 for the quarter ended December 31, 2025, a beat of the consensus estimate of $0.68 by $0.06. The company’s full‑year 2025 diluted earnings per share rose to $3.37, up $0.20 from $3.17 in 2024.
Quarterly revenue reached $164.3 million, falling 3.6% below the analyst estimate of $170.5 million. The shortfall reflects a modest decline in demand for the company’s regulated utility services, offset by a stronger performance in its contracted‑services business.
In the regulated‑utility segment, water‑service earnings per share were $0.50, down $0.02 from $0.52 in Q4 2024, while electric‑service earnings were $0.11, also down $0.02. The contracted‑services segment posted a $0.05 per‑share increase, driven by higher management‑fee revenues and new construction activity.
Adjusted for one‑time items, the Q4 2025 diluted EPS of $0.74 exceeds the adjusted Q4 2024 EPS of $0.56, indicating underlying growth that the headline figure masks. For the full year, adjusted diluted EPS climbed to $3.37 from $3.04 in 2024, a 10.9% increase that underscores the company’s pricing power and operational leverage.
The company approved a first‑quarter 2026 dividend of $0.5040 per share, payable March 5, 2026 to shareholders of record on February 23, 2026. AWR has increased its dividend for 71 consecutive years, reinforcing its reputation as a dividend aristocrat.
Capital‑investment activity remains robust: the company invested $210.9 million in 2025 and plans $185–$225 million for 2026. The contracted‑services business secured $29.4 million in new construction contracts during 2025, expected to be completed through 2028.
Market reaction to the earnings release was modest, with investors focusing on the earnings beat and underlying adjusted growth. The revenue miss was largely attributed to a slight downturn in regulated‑utility demand, while the company’s strong dividend track record and capital‑investment plans helped temper any negative sentiment.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.