Financial Data and Key Metrics Changes - For Q1 2025, operating revenue was $204 million, compared to $270.7 million in Q1 2024, reflecting a decrease due to interim rate relief recorded in the previous year [8] - Net income attributed to the group was $13.3 million or $0.22 per diluted share, down from $69.9 million or $1.21 per diluted share in Q1 2024 [9] - Adjusted for interim rate relief, Q1 revenue increased by 13% over non-GAAP 2024 revenue of $180.5 million, and net income increased by 225% over non-GAAP income of $4.1 million [10] Business Line Data and Key Metrics Changes - Capital investments during the quarter totaled $110.1 million, consistent with the record quarter reported in Q1 2024 [11] - The company expects annual capital expenditures to increase over the next five years due to ongoing infrastructure needs [12] Market Data and Key Metrics Changes - As of March 31, 2025, the company had $44.5 million in unrestricted cash, $45.7 million in restricted cash, and $315 million available on credit lines, indicating a strong liquidity profile [12] Company Strategy and Development Direction - The company is focused on rate base growth, targeting a compounded annual growth rate of approximately 11.7% [12] - The ongoing greenfield development in Texas is progressing well, with a focus on the South Austin corridor [23] - The company is also evaluating domestic M&A opportunities as a supplemental growth strategy [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress of the 2021 general rate case, noting that discussions with the California Public Advocates are ongoing [14][15] - The company is managing controllable expenses tightly due to market volatility and inflation, while maintaining a focus on capital execution [22][23] - Management is optimistic about the water supply situation in California, with strong snowpack and reservoir levels above historical averages [20][21] Other Important Information - The Board of Directors approved a quarterly dividend of $0.30 per share, representing a 10.7% increase from the previous year [13] - The company received regulatory approvals for various projects, including the Palos Verdes Peninsula Water Reliability Project, which is the largest in the company's history [17][18] Q&A Session Summary Question: Key points of contention in the California GRC - Management indicated that they cannot disclose specific details due to ongoing settlement discussions but are identifying non-contested areas for submission to the judge [28][30] Question: Comparison of the current GRC to the previous one - Management noted that the current GRC is progressing better than the previous one, with more positive engagement from the commissioner and advocates [36][39] Question: Managing costs amid market volatility - Management stated that it is too early to predict the impact of tariffs and supply chain issues but remains optimistic based on past experiences managing supply constraints [41][42] Question: Drivers behind better-than-expected Q1 results - Management attributed the positive results to effective budget management, a more accurate water mix in the rate case, and higher customer usage [51][55] Question: Potential for a global settlement in the GRC - Management expressed uncertainty about achieving a global settlement but remains hopeful as they proceed with the hearings [60][62]

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].

Core Viewpoint - California Water Service Group reported its financial results for Q1 2025, highlighting a strong start to the year despite challenges from prior rate relief decisions and ongoing regulatory processes [1][4]. Financial Highlights - 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 Q1 2024 [6][25]. - Operating revenue for Q1 2025 was $204.0 million, down $66.7 million from $270.7 million in Q1 2024, but up $23.5 million compared to non-GAAP revenue of $180.5 million for Q1 2024 [6][8]. - Operating expenses decreased to $181.6 million in Q1 2025 from $192.9 million in Q1 2024, with water production costs down by $1.2 million [8][25]. Regulatory Activity - The 2024 California General Rate Case (GRC) is progressing on schedule, with ongoing discussions and evidentiary hearings expected in May 2025 [11][13]. - Cal Water proposed to invest over $1.6 billion in infrastructure improvements from 2025-2027, with planned rate increases of 17.1% in 2026, 7.7% in 2027, and 8.1% in 2028 [11][12]. Dividend Information - The Group declared its 321st consecutive quarterly dividend of $0.30 per share, contributing to an expected annual dividend yield of $1.24 per share [18]. - The company has increased its dividend for 58 consecutive years, with a five-year compound annual growth rate of 7.7% [18]. Liquidity and Capital Investment - As of March 31, 2025, the Group had cash and cash equivalents of $90.1 million, with $45.7 million restricted, and a short-term borrowing capacity of $315 million [10]. - Capital investments during Q1 2025 were $110.1 million, slightly ahead of the same period last year [10].

Core Points - California Water Service Group declared its 321st consecutive quarterly dividend of $0.30 per common share, payable on May 23, 2025, to stockholders of record as of May 12, 2025 [1] Company Overview - California Water Service Group is the parent company of regulated utilities including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, providing water and wastewater services to over 2.1 million people across these states [2]

Core Points - California Water Service Group has been recognized as one of "America's Climate Leaders" by USA Today and Statista Inc, highlighting its commitment to sustainability and environmental impact [1][2][3] - The ranking evaluates companies with over $50 million in revenue based on their emissions reduction standards and significant reductions in Scope 1 and 2 greenhouse gas emissions intensity from 2021 to 2023 [2] - This marks the first time California Water Service Group has appeared on the list, reflecting its ongoing efforts to meet GHG emissions reduction targets while ensuring reliable water supply [2][3] Company Overview - California Water Service Group is the largest regulated water utility in the western United States, serving over 2.1 million people across multiple states including California, Hawaii, New Mexico, Washington, and Texas [4] - The company focuses on enhancing the quality of life for customers and communities through responsible investments in water and wastewater infrastructure and sustainability initiatives [5] - It has received accolades such as being named one of "America's Most Responsible Companies" and "World's Most Trustworthy Companies" by Newsweek, indicating a strong commitment to corporate responsibility and integrity [5]

Core Points - California Water Service Group has been recognized as one of "America's Climate Leaders" by USA Today and Statista Inc, highlighting its commitment to sustainability and environmental impact [1][2][3] - The ranking evaluates companies with over $50 million in revenue based on their emissions reduction standards and significant reductions in Scope 1 and 2 greenhouse gas emissions intensity from 2021 to 2023 [2] - This is the first time California Water Service Group has appeared on the list, indicating a notable achievement in its sustainability efforts [2][3] Company Overview - California Water Service Group is the largest regulated water utility in the western United States, serving over 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas [4] - The company focuses on enhancing the quality of life for customers and communities through responsible investments in water and wastewater infrastructure and sustainability initiatives [5] - It has received accolades such as being named one of "America's Most Responsible Companies" and "World's Most Trustworthy Companies" by Newsweek, reflecting its commitment to integrity and community well-being [5]

SAN JOSE, Calif., April 10, 2025 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that its 2025 first-quarter earnings results will be released at 9:00 a.m. ET with its earnings conference call to follow at 11:00 a.m. ET on Thursday, May 1, 2025. All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and key in ID# 7963586, or you may access the live audio webcast at https://edge.media-server. ...

Core Insights - California Water Service Group has been recognized for the third consecutive year as one of "America's Most Trustworthy Companies" by Newsweek, ranking first among water utilities nationwide [1][2][3] Company Overview - California Water Service Group (NYSE:CWT) is the largest regulated water utility operating exclusively in the western United States, serving over 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas [4][5] - The company operates through its regulated subsidiaries and utility holding company, focusing on providing high-quality, reliable water and wastewater services [4] Trust and Recognition - The recognition is based on an independent survey of 25,000 U.S. residents, resulting in 102,000 evaluations on trust from customers, employees, and investors, along with a social listening analysis of 304,000 company mentions [2] - The company has also been named one of "America's Most Responsible Companies" and one of the "World's Most Trustworthy Companies" by Newsweek, highlighting its commitment to integrity and community well-being [5]

SAN JOSE, Calif., March 26, 2025 (GLOBE NEWSWIRE) -- For the third consecutive year, California Water Service Group (Group) (NYSE: CWT) has earned a spot on Newsweek magazine’s list of “America’s Most Trustworthy Companies.” In Newsweek’s 2025 list, Group ranked first among water utilities nationwide, based on feedback and analysis regarding trust among customers, employees, and investors. The award is presented by Newsweek and Statista Inc., a world-leading statistics portal and industry ranking provider. ...

SAN JOSE, Calif., March 20, 2025 (GLOBE NEWSWIRE) -- Following its recognition as a Top Workplace in the Bay Area last summer, California Water Service Group (Group) (NYSE: CWT) has earned the 2025 Top Workplaces USA designation by USA Today and Energage, a leading workforce culture research company. This is the first time Group has received this national honor. Top Workplaces USA celebrates organizations with at least 150 employees and that have built exceptional, people-first cultures, according to Energa ...