Core Viewpoint - California Water Service Group reported strong operational and financial performance for 2024, highlighting significant revenue growth and capital investments aimed at enhancing water supply sustainability [3][6]. Financial Results - Q4 2024 operating revenue reached $222.2 million, up from $214.5 million in Q4 2023, marking an increase of $7.7 million [7]. - Full year 2024 operating revenue was $1.037 billion, compared to $794.6 million in 2023, reflecting a $242.4 million increase [6][26]. - Diluted earnings per share for 2024 were $3.25, a significant rise from $0.91 in 2023 [6][26]. - Net income attributable to the Group for Q4 2024 was $19.7 million, down from $30.1 million in Q4 2023 [7]. - Full year net income attributable to the Group was $190.8 million, compared to $51.9 million in 2023 [6][26]. Capital Investment - The company achieved a record capital investment of $471.0 million in water system infrastructure for 2024, a 23% increase from the previous year [6][10]. - The California Public Utilities Commission (CPUC) authorized Cal Water to issue up to $1.3 billion in new debt and equity securities [9]. Regulatory Activity - The 2024 General Rate Case (GRC) was filed, proposing over $1.6 billion in investments from 2025-2027 to enhance water supply reliability and sustainability [11][13]. - Proposed rate adjustments include an increase of $140.6 million (17.1%) in 2026, $74.2 million (7.7%) in 2027, and $83.6 million (8.1%) in 2028 [11]. Emergency Response and Preparedness - The company maintained emergency response leadership throughout 2024, conducting training and drills to prepare for potential emergencies [17]. - Investments of nearly $55 million over the past five years have been made to mitigate wildfire risks through infrastructure upgrades and strategic management [19].

SAN JOSE, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) -- To better support customers who prefer to pay their bills in person with cash or debit cards, California Water Service (Cal Water) has partnered with Walmart to enable these customers to pay their water bills at Walmart Bill Pay service counters nationwide at no additional cost. With Walmart Bill Pay, Cal Water customers have a new option to pay in person using cash or debit cards at any Walmart location that offers bill payment services, with extended hou ...

SAN JOSE, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that its 2024 full-year and fourth-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, February 27, 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# 5777452, or you may access the live audio webcast at https: ...

Core Points - California Water Service Group declared its 320th consecutive quarterly dividend of $0.30 per common share, reflecting an annual increase of $0.08, resulting in an expected annual dividend of $1.20 [1] - A one-time special dividend of $0.04 per common share was also declared, both dividends payable on February 21, 2025, to stockholders of record as of February 10, 2025 [1] - The company has increased its annual dividend for 58 consecutive years and aims to align its 2025 anticipated annual dividend with market expectations [2] Company Overview - California Water Service Group is the parent company of several regulated utilities, providing water and wastewater services to over 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas [2] - The company's common stock trades on the New York Stock Exchange under the symbol "CWT" [2]

SAN JOSE, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- (NYSE:CWT)—The California Public Utilities Commission (CPUC) has granted the request of California Water Service (Cal Water) and three other utilities to postpone their Cost of Capital applications from May 1, 2025 to May 1, 2026. The decision effectively maintains the current 10.27% return on equity (ROE) and 4.23% cost of debt for Cal Water, with a capital structure of 53.40% common equity and 46.60% long-term debt, and an authorized rate of return of 7. ...

SAN JOSE, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- (NYSE: CWT)—The California Public Utilities Commission (CPUC) has granted the request of California Water Service (Cal Water) and three other utilities to postpone their Cost of Capital applications from May 1, 2025 to May 1, 2026. The decision effectively maintains the current 10.27% return on equity (ROE) and 4.23% cost of debt for Cal Water, with a capital structure of 53.40% common equity and 46.60% long-term debt, and an authorized rate of return of 7 ...

SAN JOSE, Calif., Jan. 13, 2025 (GLOBE NEWSWIRE) -- To help improve the quality of life in the communities it serves, California Water Service Group (Group) (NYSE: CWT) has opened its 11th annual College Scholarship Program cycle for customers served by its California, Hawaii, New Mexico, and Washington subsidiaries. Eligible customers in any of these service areas or their dependents can apply for part of the $80,000 available this year to offset educational expenses. Applicants must plan to enroll in a fu ...

Executive Promotion - Kenneth G Jenkins promoted to Vice President, Water Resources Planning and Sustainability effective January 1 2025 [1] - Jenkins recognized for improving water supply master planning and leading conservation resilience and sustainability efforts [2] - Jenkins career progression includes roles as Government & Community Relations Manager Conservation Department and Drought Response Task Force leader Director of Water Resource Sustainability and Conservation and Chief Water Resource Sustainability Officer [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 operates through regulated subsidiaries California Water Service Hawaii Water Service New Mexico Water Service and Washington Water Service and its utility holding company Texas Water Service [4] - California Water Service Group focuses on enhancing quality of life through investments in water and wastewater infrastructure sustainability initiatives and community well-being [5] - The company employs over 1 200 people and has been recognized as one of America's Most Responsible Companies and the World's Most Trustworthy Companies by Newsweek [5]

SAN JOSE, Calif., Dec. 18, 2024 (GLOBE NEWSWIRE) -- To support local fire departments and their efforts to provide rescue and emergency services, California Water Service (Cal Water) today announced it will award more than $175,000 in grants to seven California fire departments as part of the utility’s sixth annual Firefighter Grant Program. “As a water provider, we partner closely with fire departments in our service areas, so they have access to a reliable supply of water and pressure to keep our communit ...

SAN JOSE, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Expanding its operations on The Garden Isle, California Water Service Group (NYSE: CWT) subsidiary Hawaii Water Service (Hawaii Water) finalized the acquisition of Kukui’ula South Shore Community Services’ (KSSCS) wastewater system assets yesterday. Hawaii Water will now own and manage the collection-only wastewater utility, which currently serves about 440 residential, commercial, and resort customers. The system, which is located in southeast Kauai, is e ...