SAN JOSE, Calif., March 18, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE:CWT) today announced its commitment to reducing absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 63% by 2035 from a 2021 base year, a target which is science-aligned and supports limiting global temperature increases to 1.5-degree Celsius above preindustrial levels. According to Chairman, President & Chief Executive Officer Martin A. Kropelnicki, Group took a thoughtful, data-driven approach, partnering ...

The Zacks Utility - Water Supply industry includes companies that are involved in providing drinking water and wastewater services to industrial, commercial and residential customer classes, along with numerous military bases across the country.A continuous and uninterrupted supply of clean potable water and reliable sewer services are essential for healthy and hygienic living. Water utilities across the United States are silently doing this critical task day in and day out to meet the increasing demand of ...

SAN JOSE, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- The California Public Utilities Commission (CPUC) issued a decision on March 7, 2024 on the 2021 General Rate Case and Infrastructure Improvement Plan for California Water Service (Cal Water), the largest subsidiary of California Water Service Group (NYSE:CWT). The decision marks the end of an extensive review of the utility's water system improvement plans, costs, and rates. The decision adopts a revised version of the alternate proposed decision issued ...

California Water Service Group’s (CWT) investment plans in infrastructure and efficient services are expected to help expand its customer base. The company is expanding its operations through acquisitions and regulated and non-regulated activities that will further boost its performance. Given its growth opportunities, CWT makes for a solid investment option in the utility sector.Let’s focus on the factors that make this currently Zacks Rank #2 (Buy) company a strong investment pick at the moment.Growth Pro ...

California Water Service Group (NYSE:CWT) Q4 2023 Earnings Conference Call February 29, 2024 11:00 AM ET Company Participants David Healey - Principal Financial Officer Marty Kropelnicki - Chairman & CEO Jim Lynch - SVP, CFO & Treasurer Greg Milleman - VP, Rates & Regulatory Affairs Conference Call Participants Gregg Orrill - UBS Jonathan Reeder - Wells Fargo Operator Good morning, ladies and gentlemen, and welcome to the California Water Service Group Q4 and Year-End 2023 Earnings Call. I would now like to ...

California Water Service Group (CWT) recorded a fourth-quarter 2023 adjusted earnings of 52 cents per share, which missed the Zacks Consensus Estimate of $1.50 by 65.3%. The bottom line, however, increased from the year-ago quarter’s figure of 35 cents.Full-year 2023 earnings came in at 91 cents per share, down 48.6% from the previous year’s $1.77.Total RevenuesOperating revenues totaled $214.5 million, which missed the Zacks Consensus Estimate of $278 million by 22.8%. The top line, however, increased 6.7% ...

California Water Service Group (CWT) came out with quarterly earnings of $0.52 per share, missing the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -65.33%. A quarter ago, it was expected that this water utility would post earnings of $0.54 per share when it actually produced earnings of $0.60, delivering a surprise of 11.11%.Over the last four q ...

C A L I F O R N I A WATER SERVICE GROUP I N V E S T I N G F O R L I F E CWT L I S T E D NYSE 2023 Year and Fourth Quarter Earnings Results Presentations February 29, (2024) Forward-Looking Statements This presentation contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the PSLRA. For ...

SAN JOSE, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) ("Company" or "CWT") today announced 2023 full year net income attributable to CWT of $51.9 million and diluted earnings per share of $0.91 for 2023, as compared to net income attributable to CWT of $96.0 million and diluted earnings per share of $1.77 for 2022. The $44.1 million decrease in net income was primarily due to the delayed final decision from the California Public Utilities Commission ("CPUC") on Califo ...

Non-Regulated Activities Fees for non-regulated activities are based on contracts negotiated between the parties. Under our non-regulated contract arrangements, we operate municipally owned water systems and privately owned water and recycled water distribution systems, but are not responsible for all operating costs. Non-regulated revenue received from non-leased water system operations is generally determined on a fee-per-customer basis. Growth Geographical Service Areas and Number of Customer Connections ...