Every material Form 8-K American States Water has filed with the SEC since February 07, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
American States Water reported third-quarter 2026 diluted earnings of $1.06 per share, unchanged from the same quarter of 2025, while revenue rose to $192.5 million from $182.7 million. Excluding investment gains and losses, which the company now removes from adjusted results, EPS rose to $1.06 from $1.01, and year-to-date reported EPS grew 11.0% to $2.92.
Q3 2026 reported diluted EPS of $1.06, flat versus $1.06 in Q3 2025; adjusted EPS of $1.06 versus $1.01
Q3 2026 total operating revenues of $192.5 million versus $182.7 million; net income of $42.3 million versus $41.2 million
Nine-month 2026 reported diluted EPS of $2.92 versus $2.63, an increase of 11.0%
Fourth-quarter dividend of $0.5455 per share approved October 26, 2026, payable December 2, 2026
American States Water reported second quarter 2026 diluted earnings per share of $1.09, up from $0.87 a year earlier, with water utility rate increases effective January 1, 2026 as the main driver. Operating revenues rose to $181.3 million from $163.1 million, and the board approved an 8.2% increase in the quarterly dividend to $0.5455 per share. The company also completed its $200 million at-the-market equity program on June 12, 2026, which adds to share count and dilutes per-share earnings.
Q2 2026 consolidated diluted EPS of $1.09 vs. $0.87 in Q2 2025, an increase of 25.3%
Year-to-date diluted EPS of $1.86 vs. $1.57, an increase of 18.5%
Quarterly dividend raised 8.2% to $0.5455 per share from $0.5040, payable September 2, 2026 to holders of record August 17, 2026
At-the-market program completed June 12, 2026, with 2,575,947 shares sold for $200 million in gross proceeds
At its May 19, 2026 annual meeting, American States Water shareholders approved a new 2026 Stock Incentive Plan that replaces the 2016 plan, allowing the Compensation Committee to grant stock options, restricted stock, restricted stock units and performance awards. Shareholders also re-elected three Class III directors, approved the advisory vote on executive pay and ratified PricewaterhouseCoopers LLP as the independent auditor.
Plan approval: 30,410,130 votes for, 776,555 against, 155,716 abstentions, 3,889,205 broker non-votes
Class III director votes for: Thomas A. Eichelberger 30,973,050; Roger M. Ervin 30,944,269; C. James Levin 29,753,613
Advisory executive pay vote: 28,620,741 for and 2,468,427 against
PricewaterhouseCoopers LLP ratified as independent registered public accounting firm: 33,682,639 for and 1,398,670 against
American States Water reported first quarter 2026 GAAP diluted earnings of $0.76 per share, up from $0.70 a year earlier, and revenue of $169.2 million, up from $148.0 million. The company attributed the gain mainly to new California Public Utilities Commission rate increases and higher construction activity at its contracted services segment, and its board approved a second quarter dividend of $0.5040 per share.
Total operating revenues were $169.2 million, compared with $148.0 million in the first quarter of 2025.
Net income was $29.9 million, compared with $26.8 million a year earlier.
Water segment diluted EPS was $0.55, up from $0.52; contracted services EPS was $0.15, up from $0.13.
The board approved a $0.5040 per share dividend, payable June 2, 2026 to shareholders of record on May 18, 2026.
On March 26, 2026, the Compensation Committee approved a 2026 Short-Term Incentive Program for AWR's executive officers, with cash bonuses tied to performance targets and discretionary assessment. The filing sets target bonuses as a percentage of 2026 base salary for five named executives, including 100% for CEO Robert J. Sprowls.
Approved March 26, 2026 by the Compensation Committee of the Board of Directors
Target bonus for CEO Robert J. Sprowls is 100% of 2026 base salary; CFO Eva G. Tang's target is 40.4%
Each bonus is split: 80% objective (based on specific performance targets) and 20% discretionary
Program and award agreement filed as Exhibits 10.1 and 10.2
On March 12, 2026, the Compensation Committee approved time-vested and performance-based restricted stock unit awards to five senior officers, including CEO Robert J. Sprowls. The awards tie part of executive pay to multi-year vesting and performance criteria, which the filing describes in an exhibit.
CEO Robert J. Sprowls received 7,362 time-vested RSUs and a performance award with a target of 22,088 RSUs.
CFO Eva G. Tang received 1,071 time-vested RSUs and a performance award with a target of 1,071 RSUs.
Time-vested awards vest in 33%, 33% and 34% tranches on the first, second and third grant anniversaries.
Performance awards vest on December 31, 2026, 2027 and 2028, in 33%, 33% and 34% portions, subject to performance criteria.
American States Water amended its Equity Distribution Agreement on February 20, 2026, replacing Janney Montgomery Scott with Huntington Securities as a sales agent. The program allows sales of common shares of up to $200 million, of which approximately $40.7 million remains available, at the company's discretion.
Amendment dated February 20, 2026 replaces Janney Montgomery Scott LLC with Huntington Securities, Inc. as sales agent
Program covers common shares with an aggregate offering price of up to $200 million; approximately $40.7 million remains
Offerings are made under Form S-3 registration statement (File No. 333-277365) and a prospectus supplement dated February 27, 2024, as supplemented February 20, 2026
Other sales agents include Wells Fargo Securities, RBC Capital Markets and Siebert Williams Shank & Co.
American States Water reported fourth-quarter 2025 diluted EPS of $0.74, down $0.01 from $0.75 a year earlier, while full-year 2025 diluted EPS rose to $3.37 from $3.17. Fourth-quarter operating revenues rose to $164.3 million from $143.1 million, and the company said adjusted EPS, which excludes prior-year one-time items, increased $0.18 per share in the quarter.
Q4 2025 diluted EPS was $0.74 versus $0.75 in Q4 2024; excluding prior-year one-time items, adjusted EPS rose $0.18 per share.
Full-year 2025 diluted EPS was $3.37 versus $3.17 in 2024, an increase of $0.20 per share, or 6.3%.
Q4 2025 operating revenues were $164.3 million versus $143.1 million; full-year revenues were $658.1 million versus $595.5 million.
The company plans to invest $185 to $225 million in 2026 and declared a first-quarter 2026 dividend of $0.5040 per share, payable March 5, 2026.
On February 10, 2026, the independent board, acting on the Compensation Committee's recommendation, approved 2026 base salaries for five officers, including CEO Robert J. Sprowls. The filing is a routine compensation disclosure and does not describe any change in officer roles, performance results, or company financials.
Robert J. Sprowls, President and CEO: 2026 base salary of $1,004,300
Eva G. Tang, SVP-Finance and CFO: $661,600
Paul J. Rowley, SVP-Regulated Water Utility: $518,200; Christopher H. Connor, SVP-American States Utility Services: $451,500
Gladys M. Farrow, Assistant Secretary, VP-Finance, Treasurer and Assistant Secretary of Golden State Water: $412,000
American States Water reported third-quarter 2025 diluted earnings per share of $1.06, up from $0.95 a year earlier, on total operating revenues of $182.7 million compared with $161.8 million. The company attributed the gain mainly to higher construction activity at its contracted services segment and new customer rates at its water and electric utilities, and its board approved a fourth-quarter dividend of $0.5040 per share.
Q3 2025 net income was $41.2 million, compared with $35.8 million in Q3 2024.
Nine-month 2025 diluted EPS was $2.63, compared with $2.42 for the same period in 2024.
Contracted services segment EPS rose to $0.19 from $0.11, and the company expects that segment to contribute $0.59 to $0.63 per share for full-year 2025.
Fourth-quarter dividend of $0.5040 per share is payable December 2, 2025, to shareholders of record on November 14, 2025.
American States Water reported second quarter 2025 diluted earnings of $0.87 per share, up from $0.85 a year earlier, with total operating revenues of $163.1 million compared with $155.3 million. The gain came mainly from new rates at its water and electric utilities, partly offset by lower construction activity at its contracted services business. The board also approved an 8.3% increase in the quarterly dividend, to $0.5040 per share.
Q2 2025 diluted EPS of $0.87 versus $0.85 in Q2 2024; water segment contributed $0.73 per share, up from $0.67.
Contracted services EPS fell to $0.13 from $0.19, mainly due to timing of construction projects; the company still expects $0.59 to $0.63 per share for full-year 2025.
Six-month diluted EPS was $1.57 versus $1.47 a year earlier.
Quarterly dividend rises to $0.5040 per share from $0.4655, payable September 3, 2025 to holders of record on August 15, 2025.
American States Water reported first-quarter 2025 diluted earnings per share of $0.70, up from $0.62 a year earlier, with total operating revenues of $148.0 million versus $135.3 million. The gain came mainly from new rates at its regulated water and electric utilities, while contracted services earnings were flat, and the company expects that segment to contribute $0.59 to $0.63 per share for full-year 2025.
Diluted EPS was $0.70 for the quarter ended March 31, 2025, versus $0.62 in the prior-year quarter, an increase of $0.08 or 13%
Total operating revenues were $148.0 million versus $135.3 million; net income was $26.8 million versus $23.1 million
Water segment EPS was $0.52 versus $0.48, and electric segment EPS was $0.07 versus $0.05; contracted services was $0.13 in both periods
Board approved a second-quarter dividend of $0.4655 per share, payable June 3, 2025 to holders of record on May 19, 2025
On March 27, 2025, the Compensation Committee approved a 2025 Short-Term Incentive Program for American States Water's executive officers. Target bonuses are set as a percentage of base salary, with 80% tied to specific performance targets and 20% discretionary.
Approved March 27, 2025 by the Compensation Committee of the Board of Directors
Target aggregate bonus for CEO Robert J. Sprowls is 100% of 2025 base salary; other named officers range from 33.2% to 47.3%
Objective bonus (80% of target) depends on performance targets; discretionary bonus (20%) depends on company assessment of individual performance
Program and form of award agreement filed as Exhibits 10.1 and 10.2
On March 13, 2025, the compensation committee approved time-vested and performance-based restricted stock unit awards for five senior officers, including CEO Robert J. Sprowls. The awards are compensation arrangements tied to vesting schedules and performance criteria, and they add to executive equity holdings rather than changing company results.
Robert J. Sprowls, President and CEO, received 6,503 time-vested RSUs and a 19,512 RSU performance award target
Eva G. Tang, CFO, received 983 time-vested RSUs and a 983 performance award target (figures as stated in the filing)
Time-vested awards vest in 33%, 33% and 34% tranches on the first, second and third grant anniversaries; performance awards vest on December 31, 2025, 2026 and 2027
Filing also includes Exhibit 10.1, the 2025 Performance Award Agreement
American States Water reported fourth-quarter 2024 diluted EPS of $0.75, up from $0.55, with about $0.06 per share of that gain tied to retroactive electric rates approved by the California Public Utilities Commission. For the full year, recorded diluted EPS fell to $3.17 from $3.36 because 2023 included a $0.38 per share retroactive water rate benefit and a $0.13 per share revenue reversal. Shareholders also received notice of a $0.4655 quarterly dividend payable March 3, 2025.
Q4 2024 diluted EPS $0.75 vs. $0.55 in Q4 2023; $0.69 excluding the $0.06 per share retroactive electric rate impact
Q4 2024 total operating revenues $143.1 million vs. $125.2 million in Q4 2023
Full-year 2024 diluted EPS $3.17 vs. $3.36 in 2023; adjusted EPS rose to $3.17 from $2.85
Board approved a $0.4655 per share first-quarter 2025 dividend, payable March 3, 2025
On February 4, 2025, the independent board, acting on the Compensation Committee's recommendation, approved 2025 base salaries for five officers. The filing is an administrative compensation disclosure and does not report any change in leadership or financial results.
Robert J. Sprowls, President and CEO: $975,000 base salary for 2025
Eva G. Tang, SVP-Finance and CFO: $630,400 base salary for 2025
Paul J. Rowley, Christopher H. Connor and Gladys M. Farrow: $488,900, $430,200 and $391,800 base salaries for 2025
Approved February 4, 2025; 8-K filed February 7, 2025
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