Filing Flows › American States Water (AWR) › Q1 2026
American States Water (AWR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
American States Water (AWR) reported revenue of $169M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before. Operating margin was 30.4%, net earnings $29.9M (17.7% of revenue).
American States Water, Q1 2026: revenue $169M (+14% year over year), operating margin 30.4%, net earnings $29.9M, operating cash flow $71.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $169M | +3% | +14% |
| Operating profit | $51.4M | +14% | +13% |
| Net earnings | $29.9M | +4% | +12% |
| Operating cash flow | $71.6M | +158% | +59% |
| Free cash flow | $22.6M | — | — |
What changed
Revenue was $169.2M in Q1 2026, up 14% year over year and up 3% from the previous quarter.
Operating profit was $51.4M, a 30.4% margin (down 0.4 points year over year). Of the extra revenue versus Q1 2025, 28% reached operating profit, below the 31% margin then. Total costs grew 15% against revenue growth of 14%. The fastest-growing cost line was Cost of revenue (+34%). Net earnings were $29.9M, up 12% year over year. The effective tax rate was 24.8%.
Operating cash flow was $71.6M (up 59% year over year), 239% of net earnings. Non-cash charges added back $13.0M of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items added $25.7M. Capital expenditures of $49.1M left free cash flow of $22.6M.
Questions
What was American States Water's revenue in the first quarter 2026?
American States Water (AWR) reported revenue of $169M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before.
Was American States Water profitable in the first quarter 2026?
Operating profit was $51.4M (30.4% of revenue) and net earnings $29.9M.