American States Water Co. Files Q2 2024 10-Q
Ticker: AWR · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1056903
Sentiment: neutral
Topics: 10-Q, utility, water-supply
TL;DR
ASW filed its Q2 10-Q. Water utility biz.
AI Summary
American States Water Co. reported its second quarter 2024 results, ending June 30, 2024. The company, which operates through its subsidiary Golden State Water Company, is involved in water supply and other services. Specific financial figures for the quarter were not detailed in this header information.
Why It Matters
This filing provides an update on the financial performance and operational status of American States Water Co. for the second quarter of 2024, which is crucial for investors and stakeholders to assess the company's health.
Risk Assessment
Risk Level: low — This is a routine quarterly filing (10-Q) for a well-established utility company, indicating standard operational reporting.
Key Numbers
- 20240630 — Report End Date (Second quarter of 2024)
- 2023-12-31 — Previous Year End (For comparison)
Key Players & Entities
- AMERICAN STATES WATER CO (company) — Filer
- Golden State Water CO (company) — Subsidiary
- SOUTHERN CALIFORNIA WATER CO (company) — Former Company Name
- 19920703 (date) — Date of Name Change
- 20240630 (date) — Report Period End Date
FAQ
What is the primary business of American States Water Co.?
American States Water Co. is primarily involved in the water supply industry, as indicated by its SIC code [4941].
What is the filing date of this 10-Q report?
This 10-Q report was filed on 20240806.
Which subsidiary operates under American States Water Co.?
Golden State Water Co. is a subsidiary of American States Water Co.
When was the company formerly known as Southern California Water Co.?
The company changed its name from Southern California Water Co. on 19920703.
What is the fiscal year end for American States Water Co.?
The fiscal year end for American States Water Co. is December 31st (1231).
Filing Stats: 4,476 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-06 16:28:08
Filing Documents
- awr-20240630.htm (10-Q) — 2233KB
- awr-20240630xex311.htm (EX-31.1) — 16KB
- awr-20240630xex3111.htm (EX-31.1 1) — 15KB
- awr-20230630xex312.htm (EX-31.2) — 16KB
- awr-20240630xex3121.htm (EX-31.2 1) — 16KB
- awr-20240630xex321.htm (EX-32.1) — 7KB
- awr-20240630xex322.htm (EX-32.2) — 8KB
- 0001628280-24-035232.txt ( ) — 8161KB
- awr-20240630.xsd (EX-101.SCH) — 45KB
- awr-20240630_cal.xml (EX-101.CAL) — 81KB
- awr-20240630_def.xml (EX-101.DEF) — 346KB
- awr-20240630_lab.xml (EX-101.LAB) — 567KB
- awr-20240630_pre.xml (EX-101.PRE) — 441KB
- awr-20240630_htm.xml (XML) — 1131KB
Financial Statements
Financial Statements 1 Consolidated Balance Sheets of American States Water Company as of June 30 , 2024 and December 31, 2023 2 Consolidated Statements of Income of American States Water Company for the Three and Six Months Ended June 3 0 , 2024 and 2023 4 Consolidated Statements of Changes in Common Shareholders' Equity for the S ix Months Ended June 30 , 2024 5 Consolidated Statements of Changes in Common Shareholders' Equity for the Six Months Ended June 30, 202 3 6 Consolidated Statements of Cash Flows of American States Water Company for the Six Months Ended June 3 0 , 2024 and 2023 7 Balance Sheets of Golden State Water Company as of June 3 0 , 2024 and December 31, 2023 8 10 11 12 13
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 14 Item 2:
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3:
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 56 Item 4:
Controls and Procedures
Controls and Procedures 56 Part II Other Information Item 1:
Legal Proceedings
Legal Proceedings 57 Item 1A:
Risk Factors
Risk Factors 57 Item 2: Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 57 Item 3: Defaults Upon Senior Securities 57 Item 4: Mine Safety Disclosure 57 Item 5: Other Information 58 Item 6: Exhibits 59
Signatures
Signatures 61 GLOSSARY OF TERMS The following terms and acronyms used in this Form 10-Q are defined below: Term or Acronym Definition ASUS American States Utility Services, Inc. ATM At-The-Market Offering Program AWR American States Water Company BSUS Bay State Utility Services LLC BVES Bear Valley Electric Service, Inc. Cal Advocates Public Advocates Office of the California Public Utilities Commission COC Cost of Capital CPUC California Public Utilities Commission CWA California Water Association DDW Division of Drinking Water ECUS Emerald Coast Utility Services, Inc. EPA Economic Price Adjustment EPS Earnings Per Share Exchange Act Securities Exchange Act of 1934, as amended FBWS Fort Bliss Water Services Company FRUS Fort Riley Utility Services, Inc. GAAP Generally Accepted Accounting Principles in the United States of America gpcd Gallons Per Capita Per Day GSWC Golden State Water Company IOWU Investor-Owned Water Utility MCBA Modified Cost Balancing Account MCL Maximum Contamination Level Moody's Moody's Investors Service ODUS Old Dominion Utility Services, Inc. OEIS Office of Energy Infrastructure Safety ONUS Old North Utility Services, Inc. PFAS Perfluoroalkyl Substances PFOA Perfluorooctanoic Acid Projects Storage System and the Bear Valley Solar Energy Project PRUS Patuxent River Utility Services LLC PSUS Palmetto State Utility Services, Inc. REA Request for Equitable Adjustment Registrant American States Water Company and Golden State Water Company SB Senate Bill SEC Securities and Exchange Commission SERP Supplemental Executive Retirement Plan SWRCB State Water Resources Control Board TUS Terrapin Utility Services, Inc. U.S. United States WCCM Water Cost of Capital Mechanism WMP Wildfire Mitigation Plan WRAM Water Revenue Adjustment Mechanism INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litiga
Financial Statements
Item 1. Financial Statements General The basic financial statements included herein have been prepared by Registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments consisting of normal recurring items and estimates necessary for a fair statement of results for the interim period have been made. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto in the latest Annual Report on Form 10-K of American States Water Company and its wholly owned subsidiary, Golden State Water Company. Filing Format American States Water Company ("AWR") is the parent company of Golden State Water Company ("GSWC"), Bear Valley Electric Service, Inc. ("BVES") and American States Utility Services, Inc. and its subsidiaries ("ASUS"). This quarterly report on Form 10-Q is a combined report being filed by two separate Registrants: AWR and GSWC. For more information, please see Note 1 of the Notes to Consolidated Financial Statements and the heading titled "General" in "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." References in this report to "Registrant" are to AWR and GSWC, collectively, unless otherwise specified. GSWC makes no representations as to the information contained in this report other than with respect to itself. 1 Table of Contents AMERICAN STATES WATER COMPANY CONSOLIDATED BALANCE SHEETS ASSETS (Unaudited) (in thousands) June 30, 2024 December 31, 2023 Property, Plant and Equipment Regulated utility plant, at cost $ 2,577,968 $ 2,476,509 Non-utility property, at cost 42,606 40,243 Total 2,620,574