American States Water Reports 28.4% Increase in Total Revenue for Q2 of 2023, Amounting to USD 157.4 Million
August 21, 2023
☀️Earnings Overview
For the second quarter of 2023, AMERICAN STATES WATER ($NYSE:AWR) reported a total revenue of USD 157.4 million, a 28.4% increase from the same period in the previous year. Additionally, the company saw a 93.1% year-over-year increase in net income, reaching USD 38.5 million by August 7 2023.
Analysis
GoodWhale’s analysis of AMERICAN STATES WATER’s financials has revealed that the company is a low risk investment in terms of financial and business aspects. This is based on their Risk Rating assessment. However, GoodWhale has detected three risk warnings in the income sheet, balance sheet, and cashflow statement. For more information on the risk warnings, users will need to become a registered user to access them. Overall, AMERICAN STATES WATER’s financials indicate that it is a low risk investment, but users should be aware of the risk warnings that have been detected. By becoming a registered user with GoodWhale, users can analyse the company’s financial situation more closely and decide whether or not the investment is suitable for them. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AWR. More…
| Total Revenues | Net Income | Net Margin |
| 579.17 | 117.01 | 20.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AWR. More…
| Operations | Investing | Financing |
| 78.66 | -178.51 | 90.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AWR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.14k | 1.38k | 20.42 |
Key Ratios Snapshot
Some of the financial key ratios for AWR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 11.4% | 32.7% |
| FCF Margin | ROE | ROA |
| -17.2% | 15.9% | 5.5% |
Peers
The Company operates through two segments: Water and Electric. American States Water Company provides water and wastewater services to residential, commercial, industrial, and governmental customers in the states of California and Arizona. The Company is the largest shareholder-owned water utility in California. American States Water Company’s subsidiaries include Golden State Water Company and Arizona Water Company. SJW Group is a publicly traded water and wastewater utility company headquartered in San Jose, California. The Company operates through three segments: Water Utility Services, Real Estate Services, and Corporate and Other. SJW Group provides water and wastewater services to residential, commercial, industrial, and governmental customers in the states of California, Texas, Connecticut, and Massachusetts. American Water Works Co Inc is a publicly traded water and wastewater utility company headquartered in Voorhees, New Jersey. The Company operates through three segments: Regulated Businesses, Market-Based Operations, and Homeowner Services. American Water Works Company Inc provides water and wastewater services to residential, commercial, industrial, and governmental customers in the states of Illinois, New Jersey, Pennsylvania, Virginia, West Virginia, Kentucky, Ohio, Michigan, Indiana, North Carolina, South Carolina, Maryland, Delaware, Florida, Louisiana, Georgia, Colorado, Nevada, New Mexico, Oklahoma, Texas, and Wyoming. Global Water Resources Inc is a publicly traded water and wastewater utility company headquartered in Scottsdale, Arizona. The Company operates through two segments: Regulated Operations and Non-Regulated Operations. Global Water Resources Inc provides water and wastewater services to residential, commercial, industrial, and governmental customers in the state of Arizona.
– SJW Group ($NYSE:SJW)
SJW Group is a publicly traded water and wastewater utility company headquartered in San Jose, California. It is the holding company for San Jose Water Company, SJWTX, Inc., and SJW Land Company. As of 2019, SJW Group served more than one million people in San Jose, California; Austin, Texas; and Connecticut.
The company has a market cap of 1.88B as of 2022 and a Return on Equity of 7.1%. SJW Group’s market cap is the fourth highest of all water and wastewater utilities in the United States. The company’s ROE is above the average for all water and wastewater utilities in the United States.
– American Water Works Co Inc ($NYSE:AWK)
The American Water Works Company, Inc. is the largest publicly traded U.S. water and wastewater utility company. It provides water and wastewater services to an estimated 15 million people in 47 states and Ontario, Canada. The company operates through six segments: Regulated Businesses, Market-Based Businesses, Homeowner Services, Contracted Services, Other, and Corporate & Other. The company was founded in 1886 and is headquartered in Voorhees, New Jersey.
– Global Water Resources Inc ($NASDAQ:GWRS)
As of 2022, Global Water Resources Inc has a market cap of 277.81M and a ROE of 30.2%. The company is involved in the development, ownership, and operation of water and wastewater utilities in the United States.
Summary
Investing in AMERICAN STATES WATER is looking to be a safe bet. In the quarter ending August 7 2023, the company reported a total revenue increase of 28.4% year-over-year to USD 157.4 million, and saw a 93.1% increase in net income to USD 38.5 million. These figures demonstrate significant growth for the company, suggesting that investors can expect to see continued growth in the near future.
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