AMERICAN STATES WATER CO

Overview

American States Water Company is a U.S. utility holding company whose core businesses are regulated water and electric service and contracted water and wastewater operations. Its three segments are Water, Electric, and Contracted Services.[1]

Through its subsidiaries, the company supplies water in California, provides electric service in the Big Bear Lake area, and operates water and wastewater systems at U.S. military installations. Its service footprint spans nine U.S. states and reaches more than one million people.[2][3]

The company’s stated values include integrity, teamwork, respect, excellence in service, and accountability; its Human Rights Policy also emphasizes safe, clean, affordable, and accessible drinking water.[4] For the year ended December 31, 2025, it reported operating revenue of $658.1 million and 900 employees.[1][5] [1]+4

Products & services

American States Water’s products and services comprise regulated water and electric utility service and contracted water and wastewater services. Through Golden State Water Company, it supplies and distributes water from groundwater, surface-water rights and purchased wholesale supplies, and provides wastewater collection and treatment in some service areas.[6][2]

Bear Valley Electric Service distributes electricity to customers in mountain communities in San Bernardino County, California. Through American States Utility Services, the company operates and maintains water and wastewater systems at U.S. military installations, and undertakes system renewal, replacement, construction and infrastructure upgrades under government contracts.[7][3]

For the six months ended June 30, 2026, reported segment revenues imply approximate shares of consolidated revenue of 69.7% for water, 9.2% for electric and 21.1% for contracted services; these percentages are calculated from reported segment revenues.[8][9] [6]+5

Geographic presence

American States Water’s operations are concentrated in California, alongside contracted water and wastewater services at U.S. military installations in nine other states. The company reports serving more than one million people across 10 states. Its 2025 Form 10-K describes water operations in 11 California counties and electric service in mountain communities of San Bernardino County, including the Big Bear area.[10]+3

The contracted-services footprint includes Fort Bliss in Texas and New Mexico; installations in Virginia, Maryland, South Carolina, North Carolina, Florida, Kansas and Massachusetts; and California. In May 2025, the company also began serving customers at a planned Central Coast California community, expected to reach about 1,300 customers at full build-out.[8][13]

The company’s registrant address is in San Dimas, California. At year-end 2025, it reported 900 employees across the company and subsidiaries, including 537 at Golden State Water Company and 48 at Bear Valley Electric Service; employee distribution by geography was not reported. The available disclosures describe revenue by business segment rather than by state, region or country.[14]+2 [10]+7

Business segments

American States Water reports three segments: Water, Electric, and Contracted Services. Water, through Golden State Water Company, provides regulated water service in 11 California counties and wastewater collection and treatment in some areas. Electric, through Bear Valley Electric Service, distributes regulated electricity in mountain communities in San Bernardino County. Contracted Services, through American States Utility Services and subsidiaries, operates, maintains, and performs construction and renewal work on water and wastewater systems at U.S. military installations.[15]+2

For fiscal 2025, Water contributed approximately 70.5% of segment revenue ($464.114 million of $658.073 million) and 77.9% of combined reportable-segment operating income ($158.364 million of $203.281 million). Electric contributed approximately 8.7% of revenue ($57.217 million) and 7.0% of segment operating income ($14.317 million). Contracted Services contributed approximately 20.8% of revenue ($136.742 million) and 15.1% of segment operating income ($30.600 million). Percentages are calculated from reported segment figures and rounded; operating-income shares use the sum of segment operating income before a $0.006 million parent adjustment.[1] [15]+10

Company history

American States Water Company traces its origins to its incorporation in California on December 31, 1929, through the consolidation of 20 corporations. The company’s early growth included acquiring water systems; in 1964 it acquired the Arden-Cordova district, followed by California Cities Water Company in 1976.[17]+2

In 1998, the company’s American States Utility Services subsidiary was established. A significant step in expanding its utility-services business came in 2004, when the subsidiary agreed to a 50-year contract to operate water and wastewater systems at Fort Bliss. In 2005, three California water operations were consolidated under the Golden State Water Company name.[20]+2

Robert J. Sprowls became president and CEO in 2009, succeeding Floyd E. Wicks. In 2018–2020, the company reorganized its Bear Valley electric utility operations into the separately incorporated Bear Valley Electric Service, Inc., following regulatory approval to transfer the utility assets and operations.[23]+2 [17]+8

Sources

• AMERICAN STATES WATER CO — Full financial report (2025 Y)
  12 citations

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• www.aswater.com[2]
• www.aswater.com[3]
• www.aswater.com[4]
• AMERICAN STATES WATER CO — Full financial report (2026 Q 2)[9]
• docs.cpuc.ca.gov[17]
• www.cpuc.ca.gov[18]
• www.encyclopedia.com[19]
• www.asusinc.com[20]
• americanstateswatercompany.gcs-web.com[21]
• americanstateswatercompany.gcs-web.com[22]
• americanstateswatercompany.gcs-web.com[23]
• www.bvesinc.com[24]
• www.cpuc.ca.gov[25]