American States Water
The 10-second takeaway
For the quarter ended June 30 (Q2), American States Water beat expectations on revenue and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share shrank.
Gross margins shrank, operating margins were steady, and net margins dropped.
American States Water tallied revenue of $114.3 million. The five analysts polled by S&P Capital IQ looked for a top line of $110.7 million on the same basis. GAAP reported sales were 4.1% higher than the prior-year quarter's $109.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.79. The five earnings estimates compiled by S&P Capital IQ predicted $0.63 per share. GAAP EPS of $0.79 for Q2 were 7.1% lower than the prior-year quarter's $0.85 per share. (The prior-year quarter included $0.17 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 60.3%, 480 basis points worse than the prior-year quarter. Operating margin was 26.4%, about the same as the prior-year quarter. Net margin was 13.2%, 130 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $123.8 million. On the bottom line, the average EPS estimate is $0.79.
Next year's average estimate for revenue is $439.9 million. The average EPS estimate is $2.31.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 130 members out of 136 rating the stock outperform, and six members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 29 give American States Water a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on American States Water is outperform, with an average price target of $41.25.
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