WAIKOLOA, Hawaii, May 06, 2025 (GLOBE NEWSWIRE) -- Hawaii Water Service (Hawaii Water) has received approval from the Hawaii Public Utilities Commission (HPUC) to increase annual revenue by $276,900 in its Ka’anapali system and adjust water rates accordingly. This increase in annual revenue is driven by recent upgrades to the water system infrastructure and increased operating costs. Hawaii Water, a subsidiary of California Water Service Group (NYSE: CWT), last adjusted base water rates for Ka’anapali in 20 ...

SACRAMENTO, Calif., May 05, 2025 (GLOBE NEWSWIRE) -- The Association of California Water Agencies (ACWA) 2025 Spring Conference & Expo May 14-15 will draw public water agency leaders from across California to Monterey for two days of presentations, panel discussions and keynote addresses focused on issues surrounding the state’s most vital resource. Panels will explore responses to disasters ranging from catastrophic wildfires in Los Angeles to how water agencies throughout California can prepare for natura ...

California Water Service Group (CWT) recorded first-quarter 2025 adjusted earnings of 22 cents per share, which surpassed the Zacks Consensus Estimate of 16 cents by 37.5%. However, the bottom line decreased 81.8% from the year-ago quarter’s figure of 1.21.(See the Zacks Earnings Calendar to stay ahead of market-making news.CWT’s Total RevenuesOperating revenues totaled $204 million, which beat the Zacks Consensus Estimate of $180 million by 13.2%. However, the top line decreased 24.7% from $270.7 million r ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 408-367-8200 (Registrant's telephone number, including area code) For the transition period from to Commission File Number 1-13883 CALIFORNIA WATER SERVICE GROUP (Exact na ...

California Water Service Group (CWT) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $1.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 37.50%. A quarter ago, it was expected that this water utility would post earnings of $0.15 per share when it actually produced earnings of $0.33, delivering a surprise of 120%.Over the last four quar ...

California Water Service Group (CWT) Q1 2025 Earnings Call May 01, 2025 11:00 AM ET Speaker0 Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the California Water Service Group First Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer I would now like to turn the conferenc ...

Financial Performance - Q1 2025 net income attributable to the Group was $13.3 million, or $0.22 per diluted share, a decrease of $56.6 million and $0.99 per share compared to the same period in the prior year[6]. - Operating revenue for Q1 2025 was $204.0 million, a decrease of $66.7 million compared to Q1 2024, but an increase of $23.5 million compared to the non-GAAP operating revenue of $180.5 million for Q1 2024[11]. - Q1 2025 operating expenses were $181.6 million, a decrease of $11.3 million compared to Q1 2024[11]. - Net income attributable to California Water Service Group for Q1 2025 was $13,331,000, down 80.1% from $69,917,000 in Q1 2024[25]. - Adjusted revenue (non-GAAP) for Q1 2025 was $203,973,000, compared to $180,483,000 in Q1 2024, reflecting a 13.0% increase when excluding the 2023 interim rate relief[27]. - Adjusted net income (non-GAAP) for Q1 2025 was $13,331,000, significantly higher than $4,104,000 in Q1 2024[27]. - Basic earnings per share for Q1 2025 was $0.22, a decrease of 81.8% from $1.21 in Q1 2024[25]. - The company reported a net operating income of $22,345,000 for Q1 2025, a decline of 71.4% from $77,894,000 in Q1 2024[25]. Dividends - The Company declared its 321st consecutive quarterly dividend of $0.30 per share, contributing to an expected annual dividend yield of $1.24 per common share[19]. - Dividends per share increased to $0.34 in Q1 2025, up from $0.28 in Q1 2024, representing a 21.4% increase[25]. Capital Investments - Capital investments during Q1 2025 were $110.1 million, slightly ahead of the same period last year[10]. Regulatory Matters - The 2024 California General Rate Case proposes to increase total revenue by $140.6 million, or 17.1%, in 2026, and $74.2 million, or 7.7%, in 2027[12]. - The Company is focused on achieving a timely resolution to the 2024 California GRC, which is critical for infrastructure investment and long-term service reliability[7]. - The 2024 California GRC is progressing on schedule, with evidentiary hearings expected to occur in May 2025[14]. Financial Position - As of March 31, 2025, the Group's cash and cash equivalents were $90.1 million, with $45.7 million restricted[9]. - Total assets increased to $5,257,751,000 as of March 31, 2025, compared to $5,180,283,000 at the end of 2024[24]. - Total current liabilities rose to $604,084,000 in Q1 2025, up from $538,364,000 in Q4 2024, indicating a 12.2% increase[24]. - Long-term debt remained stable at approximately $1,104,373,000 as of March 31, 2025, compared to $1,104,571,000 at the end of 2024[24]. Cost Management - Incremental Cost Balancing Account (ICBA) expense decreased by $9.3 million in Q1 2025[11].

SAN JOSE, Calif., May 01, 2025 (GLOBE NEWSWIRE) -- California Water Service Group (“Group” or “Company,” NYSE: CWT), a leading publicly traded water utility serving California, Hawaii, New Mexico, Washington, and Texas, today reported financial results for the first quarter 2025. Financial highlights included: The inclusion of both GAAP and non-GAAP financial measures for 2024 to assist investors in comparing 2024 and 2025 performance. Net income attributable to Group of $13.3 million, or $0.22 per diluted ...

SAN JOSE, Calif., April 30, 2025 (GLOBE NEWSWIRE) -- At its meeting on April 30, 2025, the California Water Service Group (NYSE: CWT) (Company) Board of Directors (Board) declared the company's 321st consecutive quarterly dividend in the amount of $0.30 per common share. The quarterly dividend will be payable on May 23, 2025, to stockholders of record as of the close of business on May 12, 2025. About California Water Service GroupCalifornia Water Service Group is the parent company of regulated utilities C ...

SAN JOSE, Calif., April 22, 2025 (GLOBE NEWSWIRE) -- As California Water Service Group (Group) (NYSE:CWT) joins others around the world in celebrating Earth Day, it is pleased to announce that is has been named one of "America's Climate Leaders" by USA Today and Statista Inc. The ranking honors organizations that drive real, positive environmental impact, according to Statista, a world-leading statistics portal and industry ranking provider. This ranking recognizes companies in the United States with more t ...