American States Water reports Q3 EPS 76c, consensus 70c
Reports Q3 revenue $134.5M, consensus $135.0M. The company said, "In August 2019, the California Public Utilities Commission issued a final decision on the electric general rate case of AWR's regulated utility, Golden State Water Company, which set new rates for 2018 through 2022. Since the new rates were retroactive to January 1, 2018, the impact of the new electric rates for the first six months of 2019 and for all of fiscal 2018 amounted to $0.07 per share, and is reflected in the results for the third quarter of 2019. It is shown on a separate line in the table below. Excluding the retroactive impact of the general rate case related to periods prior to the third quarter of 2019, consolidated diluted earnings per share, as adjusted, increased by $0.07 per share, or 11%, compared to the third quarter of 2018."