American States Water (AWR) Q3 FY2026 earnings: revenue $193 million, up 5.4% on the year

American States Water Co. (AWR) reported revenue of $193 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.4% on the same quarter a year earlier. Net income was $42 million, up 2.7% on the year, and diluted earnings per share $1.06. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$193 million

+5.4% on the year · +6.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

35.0%

33.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

$42 million

+2.7% on the year · -2.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.06

0.0% on the year · -2.8% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 kept.

Reported EPS flat, adjusted EPS up: Reported diluted EPS was $1.06, the same as the third quarter of 2025. Adjusted EPS was $1.06 against $1.01, an increase of $0.05.
Retirement plan investments cut EPS $0.05: Retirement-plan investments recorded losses of $17,000 in the quarter, against gains of $2.5 million a year earlier, an unfavorable $0.05 per share change.
Nine-month EPS up 11.0%: Nine-month reported diluted EPS was $2.92 against $2.63. Adjusted EPS was $2.86 against $2.54, an increase of 12.6%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	193	181	183	+6.2%	+5.4%
Cost of revenue	17.4	16.7	16.5	+3.8%	+5.3%
Gross profit	175	165	166	+6.4%	+5.4%
Gross margin	91.0%	90.8%	91.0%
Operating income	67.3	64.0	61.7	+5.2%	+9.0%
Operating margin	35.0%	35.3%	33.8%
Interest expense	11.9	12.2	11.7	-2.5%	+1.3%
Pre-tax income	57.0	57.8	54.1	-1.2%	+5.5%
Income tax	14.8	14.5	12.9	+2.0%	+14.2%
Effective tax rate	25.9%	25.1%	23.9%
Net income	42.3	43.3	41.2	-2.3%	+2.7%
Net margin	22.0%	23.9%	22.5%
Diluted EPS	$1.06	$1.09	$1.06	-2.8%	0.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	85.2	44.9	92.4	+89.6%	-7.8%
Capital expenditure	58.0	48.5	54.6	+19.5%	+6.1%
Free cash flow	27.2	-3.6	37.7		-27.9%
Free cash flow margin	14.1%	-2.0%	20.7%
Cash from investing	-57.5	-47.8	-54.4
Cash from financing	-23.3	2.4	-32.2
Depreciation and amortisation	13.2	12.7	11.9	+3.3%	+10.4%
Share-based compensation	0.7	0.3	0.3	+119.6%	+121.7%
Dividends paid	21.6	19.8	19.4	+9.2%	+11.4%
Dividend per share	$0.55	$0.50	$0.50	+8.2%	+8.2%
Diluted shares, weighted	40m	39m	39m	+0.8%	+2.8%
Shares outstanding at period end	40m	40m	39m	+0.0%	+2.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,143	1,121	1,009	+1.9%	+13.2%
Debt	906	910	915	-0.4%	-1.0%
Operating lease liabilities	5.9	5.2	5.0	+12.7%	+18.0%
Other liabilities	760	738	726	+2.9%	+4.6%
Total liabilities and equity	2,815	2,775	2,655	+1.4%	+6.0%
Fixed assets	2,418	2,367	2,241	+2.2%	+7.9%
Cash and equivalents	26.0	21.7	26.1	+20.0%	-0.3%
Receivables	50.5	41.7	46.6	+21.2%	+8.4%
Other assets	320	344	342	-7.2%	-6.4%
Total assets	2,815	2,775	2,655	+1.4%	+6.0%

Questions

What was American States Water's revenue in Q3 FY2026?

American States Water (AWR) reported revenue of $193 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.4% on the same quarter a year earlier.

How much did American States Water earn in Q3 FY2026?

Net income for Q3 FY2026 was $42 million, up 2.7% on the year, and diluted earnings per share $1.06.

When did American States Water report Q3 FY2026 results?

American States Water filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	117	109	123	135	125	161	157	152	125	135	155	162	143	148	163	183	164	169	181	193
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	15.7	16.2	11.8	10.9	12.9	12.9	16.5	18.3	17.3	16.7	17.4
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	120	139	150	132	135	150	166	146	152	165	175
Gross margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	88%	90%	93%	92%	91%	92%	91%	89%	90%	91%	91%
Operating income	30.0	24.4	34.3	40.3	27.6	51.2	58.9	51.8	34.9	39.0	51.7	55.1	38.7	45.5	51.0	61.7	45.0	51.4	64.0	67.3
Operating margin	26%	22%	28%	30%	22%	32%	37%	34%	28%	29%	33%	34%	27%	31%	31%	34%	27%	30%	35%	35%
Interest expense	5.0	5.6	6.3	7.3	7.8	9.5	10.7	11.7	10.9	12.9	13.1	13.2	11.2	12.1	12.1	11.7	10.9	12.1	12.2	11.9
Pre-tax income	27.5	18.6	26.2	34.0	23.3	45.2	51.7	41.1	28.5	30.5	42.2	45.9	30.8	35.3	43.9	54.1	36.5	39.8	57.8	57.0
Tax rate	26%	24%	24%	25%	20%	24%	26%	23%	28%	24%	25%	22%	8%	24%	23%	24%	21%	25%	25%	26%
Net income	20.4	14.2	20.0	25.7	18.6	34.4	38.5	31.6	20.4	23.1	31.9	35.8	28.4	26.8	33.7	41.2	28.7	29.9	43.3	42.3
Net margin	17%	13%	16%	19%	15%	21%	24%	21%	16%	17%	21%	22%	20%	18%	21%	23%	17%	18%	24%	22%
Diluted EPS	$0.55	$0.38	$0.54	$0.69	$0.50	$0.93	$1.04	$0.85	$0.55	$0.62	$0.85	$0.95	$0.75	$0.70	$0.87	$1.06	$0.74	$0.76	$1.09	$1.06
Operating cash flow	33.7	38.0	18.9	33.0	27.9	7.0	10.8	38.8	11.2	45.8	24.7	63.7	64.5	45.1	64.6	92.4	27.7	71.6	44.9	85.2
Capital expenditure	37.8	35.2	41.4	45.5	44.2	49.3	39.3	47.5	52.4	47.5	61.7	64.2	58.5	67.6	50.9	54.6	63.7	49.1	48.5	58.0
Free cash flow	-4.1	2.9	-22.5	-12.5	-16.3	-42.4	-28.5	-8.7	-41.2	-1.7	-37.0	-0.5	6.0	-22.5	13.7	37.7	-36.0	22.6	-3.6	27.2
Dividends paid	13.5	13.5	13.5	14.7	14.7	14.7	14.7	15.9	15.9	15.9	16.0	17.5	17.6	17.8	17.9	19.4	19.6	19.7	19.8	21.6
Shares outstanding	37m	37m	37m	37m	37m	37m	37m	37m	37m	37m	37m	38m	38m	39m	39m	39m	39m	39m	40m	40m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.