Filing Flows › American States Water (AWR) › Q2 2025
American States Water (AWR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
American States Water (AWR) reported revenue of $163M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +10% from the quarter before. Operating margin was 31.3%, net earnings $33.7M (20.7% of revenue).
American States Water, Q2 2025: revenue $163M (+5% year over year), operating margin 31.3%, net earnings $33.7M, operating cash flow $64.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $163M | +10% | +5% |
| Operating profit | $51.0M | +12% | -2% |
| Net earnings | $33.7M | +26% | +6% |
| Operating cash flow | $64.6M | +43% | +161% |
| Free cash flow | $13.7M | — | — |
What changed
Revenue was $163.1M in Q2 2025, up 5% year over year and up 10% from the previous quarter.
Operating profit was $51.0M, a 31.3% margin (down 2.1 points year over year). Operating profit fell $789K even though revenue rose $7.7M versus a year earlier, so costs grew faster than sales. Total costs grew 8% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $33.7M, up 6% year over year. The effective tax rate was 23.3%.
Operating cash flow was $64.6M (up 161% year over year), 192% of net earnings. Non-cash charges added back $11.9M of depreciation and amortization and $343K of share-based compensation. Working capital and other items added $18.6M. Capital expenditures of $50.9M left free cash flow of $13.7M.
Questions
What was American States Water's revenue in the second quarter 2025?
American States Water (AWR) reported revenue of $163M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +10% from the quarter before.
Was American States Water profitable in the second quarter 2025?
Operating profit was $51.0M (31.3% of revenue) and net earnings $33.7M.