The financials
American States Water Company by the numbers
American States Water Company (AWR) reported revenue of $169M in Q1 2026 (quarter ended March 31, 2026), up 14% from the same quarter a year earlier. That came with a gross margin of 90% and net income of $30M (18% of revenue). For the full year FY2025, revenue was $658M (+11% year on year) and net income $130M. Its largest product in 2026-Q2 was Tariffbased at $130M, 78% of the disclosed total, just ahead of Public Utilities Inventory Water at 14%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $169M | $148M | +14% |
| Gross profit | $152M | $135M | +12% |
| Operating income | $51M | $46M | +13% |
| Net income | $30M | $27M | +12% |
| Diluted EPS | $0.76 | $0.70 | +8.6% |
| Product | Revenue | Share |
|---|---|---|
| Tariffbased | $130M | 78% |
| Public Utilities Inventory Water | $24M | 14% |
| Wastewater | $13M | 7.7% |
| Other Productsand Services | $691K | 0.4% |
| Surcharges Costrecovery Activities | $190K | 0.1% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $167.3M (+12%)
Public Utilities Inventory Water grew +65% year on yearSurcharges Costrecovery Activities -89% year on year
Segment Latestquarter on quarteryear on year
- Tariffbased$129.8M$129.8MQoQ +17%year on year +11%+17%+11%
- Public Utilities Inventory Water$23.7M$23.7MQoQ +2.3%year on year +65%+2.3%+65%
- Wastewater$12.9M$12.9MQoQ -9.4%year on year -20%-9.4%-20%
- Other Products and Services$691.0K$691.0KQoQ +12%year on year +0.29%+12%+0.29%
- Surcharges Costrecovery Activities$190.0K$190.0KQoQ -54%year on year -89%-54%-89%
Utilities - Regulated Water
Ranks #4 of 6 by Smart Score