
The Appraisal Foundation Announces McKissock as Host of Foundation Asynchronous Courses
As demand for qualified appraisers grows, access to high-quality, flexible education is more important than ever. This renewed partnership ensures that professionals can continue to rely on McKissock's expertise to meet evolving industry standards. Following a rigorous RFP process, McKissock emerged as the top provider, surpassing six competitors. Their extensive market reach and proven ability to deliver engaging, high-quality coursework set them apart.
'McKissock's commitment to developing innovative new courses that engage appraisers and promote excellence across the profession aligns perfectly with our mission to promote public trust,' said Kelly Davids, President of The Appraisal Foundation. 'I congratulate them on receiving this award after a highly competitive proposal process, and our team is eager to collaborate with McKissock to bring the Foundation's courses to life.'
'McKissock has been a trusted partner in real property valuation education for decades, and we're excited to continue our collaboration with The Appraisal Foundation,' said Michael Schenk, General Manager at McKissock Learning. 'As a leader in appraisal education, we're proud to support the Foundation's mission and advance excellence in the profession. Our team looks forward to offering next-level USPAP courses that enhance engagement, accountability, and real-world application—ensuring appraisers are well-prepared for success.'
The contract extends The Appraisal Foundation's partnership with McKissock through December 31, 2029, with an option for a two-year extension. Details on new course updates and availability will be announced soon. For the latest information, please visit www.McKissock.com.
About The Appraisal Foundation
The Appraisal Foundation is the nation's foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.
About McKissock
For over 30 years, McKissock Learning has been the leading provider of real estate appraisal education, delivering top-tier training to valuation professionals nationwide. As the premier appraisal education provider in the U.S., McKissock is powered by a passionate team with decades of experience in both education and professional appraisal. Part of Colibri Group, McKissock is committed to equipping the next generation of appraisers with high-quality, accessible education that fosters their success and career growth. For more information, please visit www.McKissock.com.
CONTACT: Amy Kaufman
Director of Communications
The Appraisal Foundation
[email protected]
Direct phone: 202.624.3048
Michael Schenk
General Manager
McKissock Learning
[email protected]
Direct phone: 781.308.4976
SOURCE: McKissock Learning
Copyright Business Wire 2025.
PUB: 03/17/2025 12:09 PM/DISC: 03/17/2025 12:10 PM
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Expand For the six months ended June 30, 2025, AWR's recorded consolidated diluted earnings were $1.57 per share, as compared to $1.47 per share recorded for the same period in 2024, an increase of $0.10 per share, primarily generated from higher earnings at the water and electric utility segments, partially offset by timing differences in construction activities that resulted in lower earnings at the contracted services segment. Included in AWR's consolidated results for the six months ended June 30, 2025 were gains of $2.2 million, or $0.04 per share, generated on investments held to fund one of the company's retirement plans as compared to gains of $3.0 million, or $0.06 per share, recorded during the same period in 2024, a net unfavorable variance of $0.02 per share due to financial market conditions. In addition, AWR's consolidated diluted earnings for the six months ended June 30, 2025 were negatively impacted by approximately $0.05 per share due to the continued dilutive effects from the issuance of equity under AWR's ATM offering program. For more details on the YTD results, please refer to the company's Form 10-Q filed with the Securities and Exchange Commission. Asset Acquisition In August 2023, GSWC entered into an agreement, subject to CPUC approval, to purchase from a developer the water and wastewater system assets located in California's Central Coast region. This is a new planned community, which will serve up to approximately 1,300 customers at full build out, which is anticipated to occur by 2034 under the current construction schedule, barring any future delays. On December 5, 2024, the CPUC approved a final decision granting GSWC's Certificates of Public Convenience and Necessity that will establish rates for water and sewer services, including GSWC's recovery of the purchase price through future customer rates. After receiving CPUC approval and finalizing other closing procedures in May 2025, the parties completed the closing of the transaction, which included the initial installation and conveyance of the water and wastewater system assets of $10.7 million by the developer, a non-cash transaction to the company recorded during the second quarter of 2025 that resulted in an increase in GSWC's utility plant with corresponding increases in advances for and contributions in aid of construction. GSWC began serving a few customers during the second quarter in connection with this transaction. In the future, GSWC will take ownership of the incremental water and wastewater system assets in phases as they are completed and ready to accommodate new connections. Dividends On July 29, 2025, AWR's Board of Directors approved an 8.3% increase in the third quarter dividend to $0.5040 per share from $0.4655 per share on AWR's Common Shares. Dividends on the Common Shares will be paid on September 3, 2025 to shareholders of record at the close of business on August 15, 2025. AWR has paid common dividends every year since 1931, and has increased the dividends received by shareholders each calendar year for 71 consecutive years, which places it in an exclusive group of companies on the New York Stock Exchange that have achieved that result. AWR has grown its quarterly dividend rate at a compound annual growth rate ('CAGR') of 8.5% over the last five years since the third quarter of 2020 and is on pace to achieve a 10-year CAGR of 8.3% in its calendar year dividend payments through 2025. AWR's current policy is to achieve a CAGR in the dividend of more than 7% over the long-term. Non-GAAP Financial Measures This press release includes a discussion on AWR's operations in terms of diluted earnings per share by business segment, which is each business segment's earnings divided by the company's weighted average number of diluted common shares. This measure by business segment is derived from consolidated financial information but is not presented in our financial statements that are prepared in accordance with Generally Accepted Accounting Principles ('GAAP') in the United States. This item constitutes a 'non-GAAP financial measure' under Securities and Exchange Commission ('SEC') rules, which supplements our GAAP disclosures but should not be considered as an alternative to the respective GAAP measure. Furthermore, this non-GAAP financial measure may not be comparable to similarly titled non-GAAP financial measures of other registrants. The company uses earnings per share by business segment as an important measure in evaluating its operating results and believes this measure is a useful internal benchmark in evaluating the performance of its operating segments. The company reviews this measurement regularly and compares it to historical periods and to the operating budget. The company has provided the computations and reconciliations of diluted earnings per share from the measure of net income (loss) by business segment and for the parent company to AWR's consolidated fully diluted earnings per share in this press release. 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Readers are encouraged to review the company's filings with the SEC for a more complete discussion of risks and other factors that could affect any forward-looking statements. The statements made herein speak only as of the date of this press release and except as required by law, the company does not undertake any obligation to publicly update or revise any forward-looking statement. Conference Call Robert Sprowls, president and chief executive officer, and Eva Tang, senior vice president and chief financial officer, will host a conference call to discuss these results at 2:00 p.m. Eastern Time (11:00 a.m. Pacific Time) on Thursday, August 7. There will be a question and answer session as part of the call. Interested parties can listen to the live conference call and view accompanying slides on the internet at The call will be archived on the website and available for replay beginning August 7, 2025 at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) through August 14, 2025. 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Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water distribution, wastewater collection, and treatment facilities located on twelve military bases throughout the country under 50-year privatization contracts with the U.S. government and one military base under a 15-year contract. American States Water Company Consolidated Comparative Condensed Balance Sheets (Unaudited) (in thousands) June 30, 2025 December 31, 2024 Assets Net Property, Plant and Equipment $ 2,193,581 $ 2,099,625 Other Property and Investments 52,512 50,418 Current Assets 252,312 233,346 Other Assets 112,129 116,820 Total Assets $ 2,610,534 $ 2,500,209 Capitalization and Liabilities Capitalization $ 1,762,003 $ 1,560,433 Current Liabilities 162,075 285,525 Other Credits 686,456 654,251 Total Capitalization and Liabilities $ 2,610,534 $ 2,500,209 Expand Condensed Statements of Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2025 2024 2025 2024 Operating Revenues Water $ 119,697 $ 110,424 221,700 200,689 Electric 12,928 8,703 27,930 20,908 Contracted services 30,441 36,201 61,449 68,982 Total operating revenues 163,066 155,328 311,079 290,579 Operating Expenses Water purchased 23,911 17,968 40,219 31,729 Power purchased for pumping 3,554 3,521 6,703 6,353 Groundwater production assessment 6,125 5,818 11,804 10,672 Power purchased for resale 3,466 1,503 9,534 5,835 Supply cost balancing accounts (136 ) 3,436 (1,852 ) 2,828 Other operation 12,310 10,733 22,800 20,356 Administrative and general 25,222 23,487 52,097 48,834 Depreciation and amortization 11,681 10,770 23,263 21,492 Maintenance 6,129 3,535 10,276 6,760 Property and other taxes 6,955 6,612 13,907 13,099 ASUS construction 12,890 16,197 25,823 31,899 Total operating expenses 112,107 103,580 214,574 199,857 Operating income 50,959 51,748 96,505 90,722 Other Income and Expenses Interest expense (12,108 ) (13,137 ) (24,190 ) (25,992 ) Interest income 1,498 2,093 3,511 4,163 Other, net 3,576 1,519 3,405 3,861 Total other income and (expenses), net (7,034 ) (9,525 ) (17,274 ) (17,968 ) Income Before Income Tax Expense 43,925 42,223 79,231 72,754 Income tax expense 10,235 10,359 18,697 17,755 Net Income $ 33,690 $ 31,864 $ 60,534 $ 54,999 Weighted average shares outstanding 38,509 37,309 38,382 37,169 Basic earnings per Common Share $ 0.87 $ 0.85 1.57 1.48 Weighted average diluted shares 38,642 37,418 38,500 37,263 Fully diluted earnings per Common Share $ 0.87 $ 0.85 1.57 1.47 Dividends paid per Common Share $ 0.4655 $ 0.4300 $ 0.9310 $ 0.8600 Expand Computation and Reconciliation of Non-GAAP Financial Measure (Unaudited) Below are the computation and reconciliation of diluted earnings per share from the measure of net income (loss) by business segment and for the parent company to AWR's consolidated fully diluted earnings per share for the three and six months ended June 30, 2025 and 2024. Water Electric Contracted Services AWR (Parent) Consolidated (GAAP) In 000's except per share amounts Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Net income (loss) $ 28,140 $ 25,195 $ 1,176 $ 342 $ 4,874 $ 7,251 $ (500 ) $ (924 ) $ 33,690 $ 31,864 Weighted Average Number of Diluted Shares 38,642 37,418 38,642 37,418 38,642 37,418 38,642 37,418 38,642 37,418 Diluted earnings (loss) per share $ 0.73 $ 0.67 $ 0.03 $ 0.01 $ 0.13 $ 0.19 $ (0.01 ) $ (0.02 ) $ 0.87 $ 0.85 Water Electric Contracted Services AWR (Parent) Consolidated (GAAP) In 000's except per share amounts YTD 2025 YTD 2024 YTD 2025 YTD 2024 YTD 2025 YTD 2024 YTD 2025 YTD 2024 YTD 2025 YTD 2024 Net income (loss) $ 48,046 $ 42,989 $ 3,802 $ 2,084 $ 9,998 $ 12,025 $ (1,312 ) $ (2,099 ) $ 60,534 $ 54,999 Weighted Average Number of Diluted Shares 38,500 37,263 38,500 37,263 38,500 37,263 38,500 37,263 38,500 37,263 Diluted earnings (loss) per share $ 1.25 $ 1.15 $ 0.10 $ 0.06 $ 0.26 $ 0.32 $ (0.03 ) $ (0.06 ) $ 1.57 $ 1.47 Note: Certain amounts in the tables above may not foot or crossfoot due to rounding. 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