SAN JOSE, Calif., Sept. 03, 2025 (GLOBE NEWSWIRE) -- In recognition of the utility’s commitment to “always do the right thing,” Newsweek today named California Water Service Group (NYSE: CWT) one of the “World’s Most Trustworthy Companies.” This is the third year in a row California Water Service Group has earned this designation, which comes six months after receiving the nod as one of “America’s Most Trustworthy Companies” for 2025. Newsweek and Statista Inc., a leading statistics portal and industry rank ...

Core Insights - California Water Service (Cal Water) has increased the value of conservation rebates to encourage customers to save water [1] - The company offers rebates on various indoor and outdoor conservation-related products, including high-efficiency clothes washers and low-water-use landscaping [1][4] - The CEO emphasizes the company's commitment to providing value to customers while being a responsible steward of natural resources [3] Rebate Details - Residential high-efficiency toilets now have rebates up to $150 [4] - Residential high-efficiency clothes washers now have rebates up to $500 [4] - Residential lawn-to-garden conversions offer rebates up to $5 per square foot [4] - Commercial high-efficiency toilets now have rebates up to $200 [4] - Commercial high-efficiency urinals now have rebates up to $300 [4] - Commercial lawn-to-garden conversions offer rebates up to $3 per square foot [4] Company Overview - California Water Service provides water utility services to over 2.1 million people through 499,400 service connections [3] - The company focuses on enhancing the quality of life for customers and communities by investing in water and wastewater infrastructure and sustainability initiatives [3] - Cal Water has been recognized as one of "America's Most Responsible Companies" and one of the "World's Most Trustworthy Companies" by Newsweek [3]

The companies under the Zacks Utility - Water Supply industry work around the clock to provide a reliable supply of clean drinking water and efficient sewer services to millions of people across the United States, essential resources for safeguarding public health and sanitation. Typically, water usage declines in the winter months as colder weather reduces outdoor consumption. Conversely, demand rises during the summer, driven by higher temperatures and increased outdoor activities.The aging of pipelines i ...

If you enjoyed this, consider Ian's Insider Corner to enjoy access to similar initiation reports for all the new stocks that we buy. Membership also includes an active chat room, weekly updates, and my responses to your questions.I last covered California Water Service Group (NYSE: CWT ) back in March. At the time, I had a bullish outlook and suggested that it was well-positioned for current macroeconomic conditions. Namely, the seemingly slowing economy and rising uncertainty could leadIan leads the invest ...

Core Points - California Water Service Group has been certified as a Great Place To Work for the 10th consecutive year, reflecting its commitment to employee experience and company culture [1][3] - The company has introduced new programs such as the Career Pathways program and revamped the Season of Service program to enhance employee engagement and community support [2] - California Water Service Group serves over 2.1 million people across multiple states, providing reliable water and wastewater services through its regulated subsidiaries [4][5] Employee Programs - The Career Pathways program aims to help employees develop their current roles or prepare for future opportunities [2] - The Season of Service program encourages employees to give back to their communities, particularly during the holiday season [2] - The company has a comprehensive benefits package and wellness programs to support employee well-being [2] Customer Initiatives - New customer programs have been launched to improve convenience and affordability, including Walmart Bill Pay for cash or debit card bill payments [2] - A new rate structure has been implemented in California, significantly discounting the first nearly 4,500 gallons of water used each month [2] Company Values and Recognition - The company is dedicated to enhancing the quality of life for customers, communities, employees, and stockholders through responsible investments in infrastructure and sustainability [5] - California Water Service Group has received accolades such as being named one of "America's Most Responsible Companies" and one of the "World's Most Trustworthy Companies" by Newsweek [5]

Core Viewpoint - California Water Service Group (CWT) significantly outperformed analyst expectations in Q2 2025, with GAAP earnings per share of $0.71 compared to a consensus of $0.56, and revenue of $264.95 million, exceeding estimates by over $21 million and reflecting an 8% year-over-year increase [1][2]. Financial Performance - GAAP EPS for Q2 2025 was $0.73, surpassing the estimate of $0.56 and showing a year-over-year increase of 2.8% [2]. - Revenue reached $264.95 million, up 8.4% from $244.30 million in Q2 2024, driven by rate increases and higher customer usage [2][5]. - Net income was $42.17 million, a 3.9% increase from $40.6 million in Q2 2024 [2]. - Operating expenses rose to $213.15 million, an 8.7% increase from $196.13 million in the prior year, with key contributors being higher water production costs and labor expenses [2][6]. Business Overview and Strategic Focus - California Water Service Group operates as a regulated utility providing water and wastewater services to over two million people across California and select states [3]. - The company focuses on earning fair returns through regulatory approval, investing in modern water systems, and maintaining compliance with environmental standards [4]. Infrastructure and Capital Investment - Capital expenditures totaled $119.4 million in Q2 2025, with a year-to-date investment of $229.5 million, reflecting a 7% increase over the same period in 2024 [7]. - A significant development includes the agreement to operate the Silverwood wastewater and recycled water systems, which will serve over 15,000 customer connections [7][11]. Environmental Compliance and Sustainability - The company received a $10.6 million settlement from 3M related to PFAS contamination, which will fund capital investments for new federal drinking water standards requiring over $226 million in upgrades [8]. - A 23.5% reduction in greenhouse gas emissions from the 2021 baseline was reported, alongside a 100% compliance rate in water quality testing [9]. Dividend and Shareholder Returns - The board declared its 322nd consecutive quarterly dividend of $0.30 per share, continuing a trend of dividend increases for 58 consecutive years, with a five-year compound annual growth rate of 7.7% [10]. Future Outlook - The company's financial trajectory will be influenced by the outcomes of the California General Rate Case and ongoing infrastructure investments [12]. - Key watchpoints include expense growth and the need for substantial funding for long-term projects, which may require new borrowings or equity issuance [13].

James Patrick Lynch Thank you, Jericho. Welcome, everyone, to the Second Quarter 2025 Results Call for California Water Service Group. With me today is Marty Kropelnicki, our Chairman and CEO; and Shilen Patel, our Chief Business Development Officer and Vice President of our Texas subsidiary, TWSC. Replay dial-in information for this call can be found in our quarterly results earnings release, which was issued earlier today. The call replay will be available until September 29, 2025. As a reminder, before w ...

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 June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13883 CALIFORNIA WATER SERVICE GROUP (Exact name of registrant as specified in its charter) of incorporation or o ...

Core Insights - California Water Service Group (CWT) reported second-quarter 2025 adjusted earnings of 71 cents per share, exceeding the Zacks Consensus Estimate of 46 cents by 54.3% and increasing 1.4% from the previous year's 70 cents [1][9] CWT's Total Revenues - CWT's operating revenues reached $265 million, surpassing the Zacks Consensus Estimate of $226 million by 17.3% and showing an 8.5% increase from $244.3 million in the prior-year quarter [2][9] CWT's Operational Update - Total operating expenses were $213.1 million, up 8.7% from $196.1 million in the year-ago quarter - Water production costs rose by $7.9 million due to increased wholesale water rates and customer usage - Maintenance expenses increased by 2.9% year over year to $9 million - Net operating income was $51.8 million, compared to $48.2 million in the previous year [3][9] CWT's Financial Update - As of June 30, 2025, CWT had cash and cash equivalents of $50.5 million, slightly up from $50.1 million as of December 31, 2024 - Net long-term debt stood at $1,104 million, a slight decrease from $1,104.6 million as of December 31, 2024 [5] CWT's Zacks Rank - California Water currently holds a Zacks Rank 3 (Hold) [6] Upcoming Releases - American States Water (AWR) is expected to report second-quarter 2025 results on August 6, with a consensus estimate for earnings at 92 cents per share, indicating a year-over-year increase of 8.2% [7] - Consolidated Water Co. Ltd (CWCO) is also set to report second-quarter 2025 results soon, with a consensus estimate for earnings at 20 cents per share [8]

Financial Data and Key Metrics Changes - In Q2 2025, revenue increased by $20.7 million or 8.5% to $265 million compared to $244.3 million in Q2 2024 [12] - Non-GAAP EPS rose by 15% year over year, reflecting strong performance despite the ongoing rate case [8][13] - Net income for Q2 2025 was $42.2 million or $0.71 per diluted share, compared to $40.6 million or $0.70 per diluted share in Q2 2024 [13] Business Line Data and Key Metrics Changes - Capital spending increased approximately 7% quarter over quarter, with capital investments for the quarter at $119.4 million and year-to-date at $229.5 million [16] - The primary drivers of year-to-date diluted EPS growth were tariff rate changes and increased customer usage, contributing $0.75 per diluted share [15] Market Data and Key Metrics Changes - The company continues to maintain a strong liquidity profile with $50.5 million in unrestricted cash and $240 million in available credit [18] - The Texas utility subsidiary is experiencing growth, with increasing customer connections and paid commitments reflecting sustained demand in the Austin-San Antonio region [31] Company Strategy and Development Direction - The company is focused on growth through acquisitions and capital investments, including a new wastewater treatment facility in California [29] - The ongoing California general rate case is a priority, with the company requesting $398 million over the years 2026-2028 for infrastructure improvements [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the timely completion of the rate case, indicating that the assigned commissioner prioritizes it [48][49] - The company remains committed to investing in water quality and infrastructure, particularly in response to PFAS regulations [25][26] Other Important Information - The company received an A+ stable credit rating from S&P Global, reflecting a strong balance sheet [19] - The board approved a quarterly dividend of $0.30 per share, representing a 10.71% increase earlier this year [20] Q&A Session Summary Question: Expectations for the GRC decision timeline - Management confirmed that they expect a decision by year-end and indicated that the assigned commissioner is prioritizing the case [46][48] Question: Impact of EPA's PFAS timeline on investments - Management stated that they will continue to move forward with planned investments despite the EPA's extended compliance deadlines [52][56] Question: Rate base outlook and capital expenditure shifts - Management clarified that shifts in capital expenditures were due to timing, with no significant changes to core CapEx investments [67][70] Question: Discussion on California's water decoupling bill - Management highlighted the importance of Senate Bill 473, which would require the CPUC to implement full decoupling for water utilities, and noted strong legislative support [75][78] Question: Coverage of PFAS costs through settlements - Management estimated that settlements could cover approximately $40 to $60 million of the anticipated $226 million in PFAS-related costs [91][92]