California Water Service Group

California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The company was founded in 1926 and is headquartered in San Jose, CA.

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California Water Service Group reports record performance amidst supply chain challenges

California Water Service Group (CWT) navigated challenges in supply chain disruptions and regulatory matters to achieve a record quarter and year in Q4 2022.
The company's focus on business development outside California and commitment to infrastructure investments highlight strategic growth initiatives.
Despite a decrease in EPS for 2022, CWT remains optimistic about future business development opportunities, especially in the water and wastewater sectors.
Leadership changes, supply chain challenges, and ongoing regulatory discussions shape CWT's operational landscape, with a focus on resilience and growth.

California Water Service Group reports Q1 challenges, eyes growth opportunities

California Water Service Group faces revenue challenges in Q1 2023 due to weather and regulatory gaps but maintains a focus on growth and efficiency.
Despite market complexities, CWT is leveraging partnerships, acquisitions, and favorable rate-making processes to drive strategic expansion.
Operational challenges persist amidst regulatory uncertainties, emphasizing the need for transparency and adaptability in decision-making.
The company's proactive stance on ESG initiatives and compliance underscores a commitment to sustainability and regulatory compliance.

California Water Service Group reports Q2 earnings decline, eyes growth

California Water Service Group faced challenges with delayed revenue decisions and the California general rate case, impacting operating revenue in Q2 2023.
Despite these challenges, the company demonstrated strengths in significant capital investments and proactive steps to enhance financial performance.
Opportunities lie in executing the business plan effectively, leveraging the filed advice letter to increase operating revenues, and upcoming insights from the Q3 earnings call.

California Water Service Group navigates challenges, eyes growth opportunities

California Water Service Group faced challenges from the delayed rate case but maintained strong liquidity and robust capital investments.
The company's performance in Q3 2023 showcased resilience amidst challenges, with a focus on growth and shareholder value.
Anticipation for future dividend increases, strategic acquisitions, and continued growth in 2024 highlight the company's positive outlook.

California Water Service Group reports mixed 2023 results, focuses on resilience and growth

California Water Service Group navigated financial challenges in 2023, focusing on capital investments, regulatory proceedings, and customer service.
Despite setbacks, the company demonstrated resilience, operational excellence, and a proactive approach to addressing climate change and regulatory uncertainties.
Opportunities lie in strategic investments, ESG initiatives, and maintaining a customer-centric approach to drive long-term growth and sustainability.
Balancing financial performance with regulatory compliance and infrastructure needs will be key for California Water Service Group's future success and resilience.

California Water Service Group reports robust Q1 earnings and navigates regulatory challenges

California Water Service Group (CWT) delivered strong financial results in Q1 2024, driven by revenue growth and improved earnings. The company is focused on sustainable growth, compliance, and strategic financial management.
While facing challenges such as PFAS treatment implementation and regulatory uncertainties, CWT is proactively addressing these issues to mitigate risks and capitalize on market opportunities.
Opportunities lie in leveraging expertise in PFAS treatment, assisting water systems with compliance challenges, and enhancing shareholder value through dividend growth and strategic financial initiatives.

California Water Service Group reports stellar Q2 results and ESG leadership

California Water Service Group's Q2 2024 performance reflects a robust financial outlook, driven by revenue growth, profitability, and strategic investments in infrastructure.
The company's emphasis on ESG initiatives and regulatory compliance positions it well for long-term sustainability and value creation.
While facing regulatory and operational challenges, CWT's proactive approach and strong financial foundation offer opportunities for growth and stakeholder engagement.

California Water Service Group posts robust Q3 results amid challenges

California Water Service Group (CWT) delivered strong financial results in Q3 2024, driven by new rates and rate structures, despite challenges in rising operating expenses.
The company's robust capital investments, stable capital structure, and consistent dividend payouts underscore its financial strength and commitment to shareholders.
Opportunities lie in strategic financing, proposed investments, and environmental leadership initiatives, positioning the company for continued growth and operational excellence.

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California Water Service Group is a holding company, which engages in the provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly owned subsidiaries. The firm is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public, and irrigation uses, and fire protection. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The company was founded in 1926 and is headquartered in San Jose, CA.

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I was relatively negative on California Water Service Group in my last article, not because it's a bad company but because of the valuation, which I viewed as far too high. Since my last "HOLD"-rated article on the company, California Water has underperformed the S&P 500 by a factor of almost 5x, validating my thesis.

California Water Service: The 'Hold' Thesis Pays Off, Looking At 2023 (Upgrade)

California Water Service Group's (CWT) unit, Washington Water Service, completes the acquisition of Bethel Greenacres Water Association's water system assets.

California Water's (CWT) Arm Closes Water System Assets Buyout

SAN JOSE, Calif., March 14, 2023 (GLOBE NEWSWIRE) -- With the release of a proposed national primary drinking water regulation by the U.S. Environmental Protection Agency (EPA) for certain per- and polyfluoroalkyl substances (PFAS) today, California Water Service Group's (Group, NYSE: CWT) subsidiaries are assessing the impact of the potential regulation on their water systems in California, Hawaii, New Mexico, and Washington. Group's subsidiaries are reviewing the proposed regulation and intend to examine treatment needs in their systems; the subsidiaries are committed to complying with any eventual final regulation.

California Water Service Group Subsidiaries Preparing for Compliance with Potential PFAS Drinking Water Regulation

GIG HARBOR, Wash., March 14, 2023 (GLOBE NEWSWIRE) -- Following approval by the Washington Utilities and Transportation Commission (WUTC) in February 2023, Washington Water Service (Washington Water)—a subsidiary of California Water Service Group (Group)—has closed the acquisition of Bethel Greenacres Water Association's water system assets.

Washington Water Service Finalizes Acquisition of Bethel Greenacres Water Association

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California Water Service Group (CWT) Q4 2022 Earnings Conference Call March 2, 2023 11:00 AM ET Corporate Participants Tom Scanlon - Corporate Controller Marty Kropelnicki - President and Chief Executive Officer Tom Smegal - Vice President, Chief Financial Officer and Treasurer Greg Milleman - Vice President, Rates and Regulatory Affairs Conference Call Participants Angie Storozynski - Seaport Research Partners Jonathan Reeder - Wells Fargo Securities Davis Sunderland - Baird Operator Ladies and gentlemen, thank you for standing by. And welcome to the California Water Service Group Q4 and Year End 2022 Earnings Call.

California Water Service Group (CWT) Q4 2022 Earnings Call Transcript

California Water Service Group???s (CWT) fourth-quarter earnings and revenues beat estimates.

California Water (CWT) Q4 Earnings & Sales Surpass Estimates

California Water Service Group (CWT) delivered earnings and revenue surprises of 59.09% and 11.55%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

California Water Service Group (CWT) Beats Q4 Earnings and Revenue Estimates

SAN JOSE, Calif., March 01, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) ( “Company” or “CWT”) today announced net income attributable to CWT of $96.0 million and diluted earnings per share of $1.77 for 2022, compared to net income attributable to CWT of $101.1 million and diluted earnings per share of $1.96 in 2021.

California Water Service Group Announces 2022 Earnings for Year and Fourth Quarter

SAN JOSE, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Even with a wet start to the year, California Water Service (Cal Water) customers reached water savings of 9.5% in January compared to January 2020, with five districts saving more than 15%. This marked nine consecutive months of water savings.

California Water Service Customers Reach Nine Straight Months of Water Savings in January

The Department of Water Resources (DWR) said the modest increase in forecasted water deliveries this year is due to early gains in the Sierra snowpack.

California water officials raise State Water Project allocation after storms

SAN JOSE, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE:CWT) donated $1.57 million to community organizations, first responders, and students in 2022 in areas served by its subsidiaries, as part of its commitment to enhancing the quality of life for those it serves. The utility and its employees gave another $34,270 through an employee charitable donation-matching program.

California Water Service Group Donates More than $1.5 Million to Local Community Organizations in 2022

SAN JOSE, Calif., Feb. 15, 2023 (GLOBE NEWSWIRE) -- California Water Service (Cal Water), a subsidiary of California Water Service Group (Group) (NYSE: CWT), has received a ruling in its General Rate Case (GRC)—pending before the California Public Utilities Commission (CPUC)—that approves modified interim rates effective beginning April 15, 2023. The ruling allows Cal Water to increase rates by 4% in most of its districts, so that the utility can continue to make infrastructure improvements intended to keep its systems safe and reliable.

California Water Service Receives Approval for Interim Rate Increases Effective April 15, 2023

SAN JOSE, Calif., Feb. 13, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that its fourth quarter and year-end 2022 earnings results will be released on March 1, 2023 with its conference call to follow at 11:00 a.m. ET on Thursday, March 2, 2023.

California Water Service Group Schedules Fourth Quarter and Year-End 2022 Earnings Results Announcement and Conference Call

SAN JOSE, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) announced today that it has partnered with Promise to offer residential customers customizable, interest-free PromisePay payment plans for past-due water bills. These payment plans offer even more flexibility beyond Cal Water's other payment plans, all of which enable customers with past-due accounts to avoid interruptions in water service.

California Water Service Partners With Promise to Offer Convenient, Flexible Payment Plans to Residents With Past-Due Bills

California Water Service Group (CWT) continues with steady performance, as its board of directors rewards shareholders with 4% quarterly dividend hike.

California Water Service (CWT) Board Hikes Dividend by 4%

SAN JOSE, Calif., Jan. 30, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that Shawn C. Bunting, Esq. will join the company as Vice President, General Counsel and Corporate Secretary, effective March 1, 2023. He succeeds Lynne P. McGhee, who will retire after more than 19 years of service.

California Water Service Group Announces Addition of Shawn C. Bunting as Vice President, General Counsel and Corporate Secretary

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SAN JOSE, Calif., Jan. 25, 2023 (GLOBE NEWSWIRE) -- At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 312th consecutive quarterly dividend, increasing the annual dividend by $0.04, or 4.0%, from $1.00 to $1.04. This represents the company's 56th consecutive annual dividend increase. The quarterly dividend of $0.26 per common share will be payable on February 17, 2023 to stockholders of record on February 6, 2023.

California Water Service Group Board of Directors Declares 312th Consecutive Quarterly Dividend and 56th Consecutive Annual Dividend Increase

SAN JOSE, Calif., Jan. 24, 2023 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) customers surpassed the state's conservation target of 15% in December 2022, saving 16.5% company-wide over December 2020. This is the eighth month in a row Cal Water customers reduced their water use, with 11 districts saving more than 15%.

California Water Service Customers Saved 16.5 Percent Water in December, Eighth Straight Month of Savings

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SAN JOSE, Calif., Jan. 17, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE: CWT) announced the commencement of its 10th annual College Scholarship Program cycle today, reaffirming the utility's commitment to improving lives in its communities. Students residing in areas served by its California, Hawaii, New Mexico, and Washington subsidiaries are encouraged to apply for a portion of the $80,000 available in awards.

California Water Service Group Launches 10th Annual College Scholarship Program, Encourages Students to Learn More and Apply

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News for California Water Service Group Stock (CWT)