Jonathan Reeder

Ian Rapp

- American States Water Company reported **Q3 2025 consolidated earnings of $1.06 per share**, an increase from $0.95 per share in Q3 2024, primarily due to new water and electric rates and higher earnings from its contracted services business (ASUS).  **[0001056903_2244866_2]**  Year-to-date earnings through September 30, 2025, were **$2.63 per share**, up from $2.42 per share in the same period last year  **[0001056903_2244866_1]** ,.  **[0001056903_2244866_3]** 
- Consolidated revenue for Q3 2025 increased by **$21 million** compared to Q3 2024, driven by new rates for the water and electric segments and increased construction activity at ASUS.  **[0001056903_2244866_2]** 
- The company's regulated utilities are projected to invest **$180-$210 million** in infrastructure in 2025  **[0001056903_2244866_1]** ,.  **[0001056903_2244866_3]**  Golden State Water's adopted average water rate base increased from $980.4 million in 2021 to **$1,455.8 million in 2025**, representing a **10.4% compound annual growth rate**.  **[0001056903_2244866_5]** 
- ASUS was awarded **$28.7 million** in new capital upgrade construction projects year-to-date September 30, 2025, and is projected to contribute **$0.59-$0.63 per share** in 2025 and **$0.63-$0.67 per share** in 2026  **[0001056903_2244866_1]** ,  **[0001056903_2244866_5]** ,.  **[0001056903_2244866_6]** 
- American States Water raised its quarterly dividend by **8.3%** in Q3 2025, maintaining a compound annual growth rate of 8.5% over the last five years.  **[0001056903_2244866_6]**

American States Water Company Reports Strong Q3 2025 Earnings and Growth

- American States Water Company recorded **consolidated diluted earnings per share of $1.06** for Q3 2025, an **11.6% increase** compared to $0.95 in Q3 2024. Year-to-date diluted EPS for 2025 was **$2.63**, up from $2.42 in 2024.  **[0001056903_2244625:2]** 
- Total operating revenues for Q3 2025 reached **$182.7 million**, an increase from $161.7 million in Q3 2024.  **[0001056903_2244625:2]** 
- The Contracted Services (ASUS) segment is projected to contribute **$0.59 to $0.63 per share** for the full year 2025 and **$0.63 to $0.67 per share** in 2026.  **[0001056903_2244625:9]** 
- The Board of Directors approved a **fourth-quarter cash dividend of $0.5040 per share**, continuing a trend of increased dividends for **71 consecutive years**.  **[0001056903_2244625:9]** 
- Regulated utilities are on track to invest **$180-$210 million** for the year 2025, with significant capital infrastructure authorizations including **$573.1 million** for GSWC (2025-2027) and **$75.6 million** for BVES (2023-2026) approved by the CPUC.  **[0001056903_2244625:2]** **[0001056903_2244625:5]** **[0001056903_2244625:8]**

American States Water Company Reports Q3 2025 Earnings and Provides Outlook

- American States Water Company reported **consolidated diluted earnings per share of $1.06** for the third quarter ended September 30, 2025, an **11.6% increase** compared to $0.95 in the same period of 2024, with increased earnings across all operating business segments.  **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:0]** 
- The company's Board of Directors approved a **$0.5040 per share quarterly dividend** for the fourth quarter of 2025, an **8.3% increase** during 2025, marking the **71st consecutive year** of dividend increases.  **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:0]** **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:4]** 
- The contracted services business is expected to contribute **$0.59 to $0.63 per share** for the full 2025 year and has been awarded **$28.7 million** in additional new construction projects through 2028.  **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:0]** 
- AWR's regulated utilities are authorized to spend nearly **$650 million** in capital investments, with **$180 to $210 million** targeted for investment in 2025.  **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:0]**  Additionally, its regulated water utility received CPUC approval to serve a new planned community, which will include up to **3,800 customer connections** over the next five years.  **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:0]** **[1056903_0001628280-25-049630_exhibit991pressrelease2025.htm:4]**

American States Water Company Announces Third Quarter 2025 Results

- American States Water Company (AWR) reported **consolidated diluted earnings per share (EPS) of $1.06 for Q3 2025**, an **11.6% increase** from $0.95 in Q3 2024.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_0]**  Year-to-date 2025 consolidated diluted EPS rose **8.7% to $2.63** compared to $2.42 in YTD 2024.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_3]** 
- The EPS growth in Q3 2025 was primarily driven by increased earnings across all operating business segments, with the **contracted services segment contributing $0.19 per share**, the **water utility segment $0.86 per share**, and the **electric utility segment $0.04 per share**.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_0]** 
- The company is on track to invest **$180 million to $210 million in capital investments in 2025**.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_0]** 
- AWR's Board approved a **fourth quarter dividend of $0.5040 per share**, extending its record of annual dividend increases to **71 consecutive years**.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_4]**  The quarterly dividend rate has achieved an **8.5% CAGR over the last five years**.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_0]** 
- The contracted services business is projected to contribute **$0.59 to $0.63 per share for the full 2025 year**.  **[1056903_b1229d432c02463c9de7ebb299fddf7a_0]**

AMERICAN STATES WATER (AWR)