Exhibit 99.1 California Water Service Group Reports Second Quarter Results SAN JOSE, Calif., August 1, 2024 (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 second quarter of 2024. Highlights included: · Diluted earnings per share of $0.70 in Q2 2024, compared to $0.17 in Q2 2023. · $214.4 million of capital invested in water sys ...

Core Viewpoint - California Water Service Group reported strong financial results for Q2 2024, with significant increases in net income and operating revenue compared to the same period in 2023, driven by rate increases and the effects of the 2021 California General Rate Case decision [2][5][6]. Financial Performance - Diluted earnings per share reached $0.70 in Q2 2024, up from $0.17 in Q2 2023 [2][26]. - Net income attributable to the Group was $40.6 million in Q2 2024, compared to $9.6 million in Q2 2023 [5][26]. - Operating revenue for Q2 2024 was $244.3 million, an increase of $50.3 million from $194.0 million in Q2 2023 [5][25]. - Year-to-date net income for 2024 was $110.5 million, compared to a net loss of $12.7 million in the same period last year [6][26]. - Operating revenue for the first six months of 2024 was $515.0 million, up from $325.1 million in the same period in 2023 [6][25]. Capital Investment and Infrastructure - The Group invested $214.4 million in water system infrastructure in the first half of 2024, representing 56% of its estimated $385 million capital investment target for the year [2][9]. - California Water Service (Cal Water) plans to invest over $1.6 billion in its districts from 2025-2027 to ensure a reliable supply of high-quality water [10][11]. Rate Case and Regulatory Developments - The company filed the 2024 General Rate Case (GRC) and Infrastructure Improvement Plans for 2025-2027 with the California Public Utilities Commission (CPUC) [2][10]. - The proposed Low-Use Water Equity Program aims to decouple revenue from water sales to assist low-water-using, lower-income customers [10][12]. - Proposed rate increases include $140.6 million (17.1%) in 2026, $74.2 million (7.7%) in 2027, and $83.6 million (8.1%) in 2028 [13]. Emergency Response and ESG Initiatives - The company conducted emergency response exercises in Hawaii and activated emergency operations during the Butte County Thompson Fire, ensuring no assets were impacted [15]. - The 2023 ESG Report highlights the company's commitment to environmental, social, and governance (ESG) objectives, detailing progress and achievements in these areas [19][20].

Group 1 - California Water Service Group declared its 318th consecutive quarterly dividend of $0.28 per common share, payable on August 23, 2024, to stockholders of record as of August 12, 2024 [1] - The company provides regulated and non-regulated water and wastewater services to over 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas [2] - California Water Service Group's common stock is traded on the New York Stock Exchange under the symbol "CWT" [2]

Without the reduction in water demand since 2008-2009, AWE estimates that bills in Cal Water's service areas for the 2010-2022 period would have been at least 1.2 to 20.5 percent higher, depending on the district. The money Cal Water spent on conservation programs was more than offset by lower water production costs, deferred capital spending, and other reduced costs. Furthermore, the study shows that investing in water conservation directly benefits customers by helping to slow the increase in water servic ...

Water conservation has been shown to be the lowest-cost source of supply, because when less water is used, some costly investments required to produce additional water supplies can be deferred and potentially avoided. This study, "The Economic Value of Efficiency for California Water Service: Lower Water Bills," details the impact of Cal Water's water conservation efforts on affordability. "Our water conservation efforts have reduced our costs from what they would have been absent conservation throughout al ...

SAN JOSE, Calif., July 11, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that its 2024 second 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, August 1, 2024. 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# 5681819, or you may access the live audio webcast at https://edge.media-ser ...

Cal Water plans to invest more than $1.6 billion in infrastructure development during the 2025-2027 period. Around 46% of the planned expenditure is reserved for new projects and the replacement of old pipelines to ensure reliable water supply, even during emergencies. Additionally, the company has proposed the Low-Use Water Equity Program to keep water affordable for lowincome customers. American States Water Company (AWR) is investing regularly in upgrades to make its infrastructure strong and resilient. ...

SAN JOSE, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- To continue providing safe, clean, reliable tap water to customers across the communities it serves, California Water Service (Cal Water)—the largest subsidiary of California Water Service Group (NYSE:CWT)—yesterday submitted Infrastructure Improvement Plans for its California districts from 2025-2027 in its General Rate Case (GRC) filing with the California Public Utilities Commission (CPUC). The application also proposes a Low-Use Water Equity Program, w ...

SAN JOSE, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- To continue providing safe, clean, reliable tap water to customers across the communities it serves, California Water Service (Cal Water)—the largest subsidiary of California Water Service Group (NYSE:CWT)—yesterday submitted Infrastructure Improvement Plans for its California districts from 2025-2027 in its General Rate Case (GRC) filing with the California Public Utilities Commission (CPUC). The application also proposes a Low-Use Water Equity Program, w ...

Core Viewpoint - The California Supreme Court's ruling supports the decoupling rate-making mechanism for water utilities, ensuring financial stability while promoting water conservation and protecting customer interests [1][4][5] Group 1: Court Ruling and Implications - The ruling preserves decoupling as a rate-making mechanism, which is crucial for maintaining financial stability for water utilities [1][4] - The court found that the California Public Utilities Commission (CPUC) did not follow proper procedures when considering the elimination of decoupling, denying utilities the chance to present evidence supporting its benefits [5] - Decoupling helps keep water rates affordable for low-water-using customers while allowing utilities to promote conservation efforts [5] Group 2: Company Overview - California Water Service (Cal Water) provides reliable water utility services to over 2 million people through 497,700 service connections [3] - The company is committed to enhancing community well-being and invests in water and wastewater infrastructure and sustainability initiatives [3] - Cal Water has received recognition as one of "America's Most Responsible Companies" and "World's Most Trustworthy Companies" [3]