American States Water reported third quarter 2026 results that fell short of analyst projections on both revenue and earnings. While the company benefited from CPUC-authorized rate increases in its water and electric segments, consolidated results were weighed down by a $0.05 per share unfavorable variance in retirement plan asset returns caused by market volatility.
Key Highlights
- Regulated water operating revenues increased by $7.6 million, primarily driven by authorized rate hikes and a 1% increase in water consumption.
- Retirement plan investment results shifted from a $2.5 million gain in Q3 2025 to a $17,000 loss this quarter, impacting EPS by $0.05.
- Contracted services (ASUS) segment earnings contributed $0.17 per share, down from $0.19 in the prior year, despite $31 million in new construction project awards year-to-date.