Core Insights - The article discusses three companies recognized for their strong dividend performance: Emerson Electric, Illinois Tool Works (ITW), and California Water Service Group, highlighting their operational resilience and dividend growth history [2][3][19] Group 1: Emerson Electric - Emerson Electric's stock has declined by 11.5% recently, creating a potential buying opportunity despite a negative market reaction to its Q3 earnings report [4] - The company's automation segment is facing challenges, particularly in discrete automation and test and measurement, with expectations for recovery not until 2025 [6][8] - Emerson's process and hybrid automation markets are showing steady mid-single-digit growth, supported by investments in sectors like LNG and life sciences [7] - The company anticipates $2.8 billion in free cash flow for 2024, trading at 21 times estimated free cash flow, indicating a reasonable valuation as earnings and cash flow are expected to improve [9] Group 2: Illinois Tool Works (ITW) - ITW has consistently outperformed the S&P 500 over the last decade, but its stock is down year-to-date due to macroeconomic challenges [10] - The company has raised its dividend by 7% to $1.50 per share quarterly, resulting in a forward yield of 2.4%, with a payout ratio of 59% based on trailing earnings [12] - ITW's diversified business model across seven segments helps mitigate risks from cyclical downturns, maintaining operational efficiency with a record high Q2 2024 operating margin of 26.2% [13][15] - The current valuation of ITW has become more attractive as its price-to-earnings ratio approaches historical averages [16] Group 3: California Water Service Group - California Water Service Group has a long history of dividend payments, having raised its dividend for 57 consecutive years, with a current forward yield of 2.1% [19][20] - The company focuses on steady growth through acquisitions of small municipal utilities and aims for a 1% annual growth in customers over the next five years, expanding into states beyond California [20] - Operating primarily in regulated markets, California Water Service has a predictable cash flow, allowing for effective planning of capital expenditures and dividends, with a 62% average payout ratio over the past decade [21] - The stock is currently valued at only 7.6 times operating cash flow, compared to a five-year average cash flow multiple of 12.6, indicating a potential buying opportunity [22]

SAN JOSE, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) -- In recognition of the company's commitment to its employees, the San Francisco Chronicle has named California Water Service Group (Group) (NYSE: CWT) a Top Workplace in the Bay Area for the 12th year. The distinction is awarded each year based on input from local employees of California Water Service (Cal Water), Group's largest subsidiary. Beyond Cal Water's long-standing efforts to support employees—which include a competitive compensation and benefits p ...

California Aqueduct with Storm Sky trekandshoot/iStock via Getty Images Having increased its dividend for 57 consecutive years, California Water Service Group (NYSE:CWT) is likely to offer stable dividend growth in the future as well. The company, which is currently moderately discounted, provides a relatively favorable place to buy. Although CWT's main business area remains California, the company is gradually expanding to other US states as well. This fact reduces regional risk and increases growth opport ...

California Water Service Group (CWT) recorded second-quarter 2024 adjusted earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 39 cents by 79.5%. The bottom line also increased from the year-ago quarter's figure of 17 cents. Total Revenues Operating revenues totaled $244.3 million, which surpassed the Zacks Consensus Estimate of $200 million by 22%. The top line also increased 25.9% from $194 million recorded in the prior-year quarter. The quarterly results continued to benefit f ...

California Water Service Group (NYSE:CWT) Q2 2024 Results Conference Call August 1, 2024 11:00 AM ET Company Participants James Lynch - Senior Vice President, Chief Financial Officer and Treasurer Martin Kropelnicki - Chairman and Chief Executive Officer Greg Milleman - Vice President of Rates and Regulatory Affairs Conference Call Participants Michael Gaugler - Janney Montgomery Scott Davis Sunderland - Baird Jonathan Reeder - Wells Fargo Operator Thank you for standing by. I will be your conference operat ...

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 June 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 77-0448994 ( ...

California Water Service Group (CWT) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 79.49%. A quarter ago, it was expected that this water utility would post earnings of $0.21 per share when it actually produced earnings of $1.21, delivering a surprise of 476.19%. Over the last four ...

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]