American States Utility Services delivered Q2 sales of $23.2 million, outperforming our estimate by $5.4 million.
Despite the total operating expense miss, we view the outcome positively since it suggests the additional expense was incurred to support future American States Utility Services growth, while also implying to us AWR is properly managing expenses of the regulated business.
American States Utility Services was awarded a 50-year contract with Eglin Air Force Base to operate, maintain, and provide construction services for the water and wastewater systems.
American States Water Company (NYSE: AWR), the parent company of Golden State Water Company, American States Utility Services
, Incorporated and Chaparral City Water Company, has announced that the Arizona Corporation Commission has approved a rate increase for Chaparral City Water Company (CCWC), a subsidiary of AWR in Arizona.