SACRAMENTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- The Association of California Water Agencies (ACWA) 2024 Fall Conference & Expo Dec. 4-5 will transform Palm Desert into a two-day town square for public water agency leaders from throughout California. Presentations and panel discussions will focus on a variety of leading water issues, ranging from climate change impacts on water supplies to the latest in local groundwater management, developments in Bay-Delta policy and innovations in sustainable agriculture. ...

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 September 30, 2024 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) Delaware 77-0448 ...

Financial Performance - Operating revenue for Q3 2024 increased by 17.5% to $299.6 million compared to $255 million in Q3 2023 [12] - Net income for Q3 2024 was $60.7 million or $1.03 per diluted share, up from $34.4 million or $0.60 per diluted share in Q3 2023 [12] - Year-to-date operating revenue increased by $234.5 million to $814.6 million in 2024 compared to $580 million in 2023 [16] Business Line Performance - The increase in Q3 2024 revenue was primarily driven by a $42.2 million increase in rates billed to customers and an increase in customer usage of $9.6 million [12] - Year-to-date 2024 operating expenses were $621.8 million, up from $538.2 million in 2023, primarily due to increased water production costs and higher depreciation [18] Market Data - The company received approval for certain advice letters from the California Public Utilities Commission, allowing it to collect $94.2 million in regulatory balances through 2027 [9][36] - The overall rate base is projected to grow to $2.36 billion by the end of 2024, representing a 7.3% increase over 2023 [25] Company Strategy and Industry Competition - The company is focused on significant capital investments in water infrastructure, totaling $332.2 million for the first nine months of 2024 [23] - The 2024 general rate case includes a proposal to invest $1.6 billion from 2025 to 2027, with a focus on conservation and low-income customer support [31] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the strong financial performance and ongoing capital investments, emphasizing a focus on customer service and infrastructure improvements [44] - The company is preparing for public participation hearings related to the 2024 general rate case and aims to conclude the rate case by the end of 2025 [45] Other Important Information - The company declared a $0.28 per share dividend for stockholders, marking its 319th consecutive quarterly dividend [29] - The company was recognized for its environmental leadership, receiving multiple awards for its conservation programs and workplace excellence [39] Q&A Session Summary Question: View on CPUC's recent decision regarding decoupling - Management noted that there is no consensus on the implications of the CPUC's decision and that it is too early to determine the outcome [49][50] Question: Potential impacts of the EPA's lead and copper rule - Management indicated that the impact is minimal due to newer infrastructure in California, with more focus on PFOS investments [69]

California Water Service Group (CWT) recorded third-quarter 2024 adjusted earnings of $1.03 per share, which lagged the Zacks Consensus Estimate of $1.09 per share by 5.5%. However, the bottom line increased from the year-ago quarter’s figure of 60 cents.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.CWT’s Total Revenues Operating revenues totaled $299.6 million, which surpassed the Zacks Consensus Estimate of $269 million by 11.6%. The top line also increased 17.5% from $255 milli ...

California Water Service Group (CWT) came out with quarterly earnings of $1.03 per share, missing the Zacks Consensus Estimate of $1.09 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.50%. A quarter ago, it was expected that this water utility would post earnings of $0.39 per share when it actually produced earnings of $0.70, delivering a surprise of 79.49%.Over the last four qu ...

Exhibit 99.1 1720 N. First Street, San Jose, CA 95112 California Water Service Group Reports Third Quarter Results SAN JOSE, Calif., October 31, 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 third quarter of 2024. Highlights included: • Recorded diluted earnings per share of $1.03 in Q3 2024 and $2.93 year-to-date, compar ...

SAN JOSE, Calif., Oct. 31, 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 third quarter of 2024. Highlights included: Recorded diluted earnings per share of $1.03 in Q3 2024 and $2.93 year-to-date, compared to $0.60 in Q3 and $0.38 year-to-date in 2023.Invested a record $332.2 million of capital in infrastructure during th ...

SAN JOSE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- At its meeting on October 30, 2024, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 319th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on November 22, 2024 to stockholders of record as of the close of business on November 12, 2024. California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water ...

Core Viewpoint - California Water Service (Cal Water) has been recognized by the NAACP Butte County Chapter with the 2024 Excellence in Community Grants & Scholarships Award for its commitment to improving local communities and investing in the future of Butte County's youth [1][2]. Group 1: Community Engagement and Contributions - Cal Water has sponsored NAACP events for the past three years to raise funds for student scholarships and has contributed over $500,000 in Butte County through various initiatives over the past five years [1]. - The utility offers a yearly College Scholarship Program for students in its service areas and an annual Firefighter Grant Program [1]. - The recognition from the NAACP highlights Cal Water's dedication to empowering youth and fostering positive change in the community [2]. Group 2: Company Overview - California Water Service provides water utility services to over 2 million people through 497,700 service connections statewide [3]. - The company's mission includes enhancing the quality of life for customers and communities by investing in water and wastewater infrastructure and sustainability initiatives [3]. - Cal Water has received accolades such as being named one of "America's Most Responsible Companies" and the "World's Most Trustworthy Companies" by Newsweek [3].

SAN JOSE, Calif., Oct. 14, 2024 (GLOBE NEWSWIRE) -- For its commitment to and advancements in sustainability, California Water Service Group (Group) (NYSE: CWT) has been named one of "America's Greenest Companies" by Newsweek. The magazine recognized eight companies in the utilities category, with Group being one of only two water utilities honored. Newsweek partnered with Plant-A Insights Group and GIST Impact to recognize the top 500 U.S. companies committed to reducing their environmental impact based on ...