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American States Water Company Announces Third Quarter 2021 Results November 1 , 2021 • 5.6 % increase in third quarter consolidated diluted EPS over third quarter of 2020 , or 8.6 % increase as adjusted • 11.7 % increase in year - to - date consolidated diluted EPS over prior year , or 10.7 % increase as adjusted American States Water Company SAN DIMAS , Calif .-- ( BUSINESS WIRE ) -- Nov . 1 , 2021-- American States Water Company ( NYSE : AWR ) today reported basic and fully diluted earnings per share of $ 0.76 for the quarter ended September 30 , 2021 , as compared to basic and fully diluted earnings per share of $ 0.72 for the quarter ended September 30 , 2020. Included in the results for the third quarter of 2021 were minimal gains on investments held to fund one of the company's retirement plans , as compared to gains of $ 1.2 million , or $ 0.02 per share , for the same period in 2020 largely due to volatility in the financial markets resulting , in part , from the COVID - 19 pandemic . Excluding the gains on investments from both periods , adjusted diluted earnings for the third quarter of 2021 were $ 0.76 per share , as compared to adjusted diluted earnings of $ 0.70 per share for the third quarter of 2020 , an adjusted increase of $ 0.06 per share , or 8.6 % . Third Quarter 2021 Results The table below sets forth a comparison of diluted earnings per share contribution by business segment and for the parent company as recorded during the third quarter of 2021 and 2020 . Water Electric Contracted services AWR ( parent ) Diluted Earnings per Share Three Months Ended 9/30/2021 9/30/2020 CHANGE $ 0.62 $ 0.57 0.04 0.11 ( 0.01 Consolidated fully diluted earnings per share , as reported $ 0.76 0.04 0.10 ) 0.01 $ 0.72 $ 0.05 0.01 ( 0.02 ) $ 0.04 Water Segment : Diluted earnings from AWR's regulated water utility segment , Golden State Water Company ( " GSWC " ) , for the three months ended September 30 , 2021 were $ 0.62 per share as compared to $ 0.57 per share for the same period in 2020. Excluding the gains on investments from both periods as discussed above , the water segment's adjusted diluted earnings for the third quarter of 2021 were $ 0.62 per share , as compared to adjusted diluted earnings of $ 0.55 per share for the third quarter of 2020 , an adjusted increase of $ 0.07 per share , due to the following items : • An increase in water's operating revenues less water supply costs ( " RLWSC " ) of $ 3.1 million as a result of new rates authorized by the California Public Utilities Commission ( " CPUC " ) . Effective January 1 , 2021 , GSWC received its full third - year step increase , which it achieved as a result of passing an earnings test . The higher water rates are expected to increase water's RLWSC by $ 11.1 million for 2021 . • An overall increase in operating expenses ( excluding supply costs ) of $ 766,000 , which negatively impacted earnings and was mainly due to increases in water treatment costs , conservation costs , and depreciation expense , partially offset by a decrease in maintenance expense . • A decrease in interest expense ( net of interest and other income ) of $ 754,000 , which favorably impacted earnings and resulted primarily from lower overall interest rates due , in large part , to the early redemption of 9.56 % private placement notes in the amount of $ 28 million in May 2021 .