Use these links to rapidly review the document TABLE OF CONTENTS Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 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 No. 1-13883 CALIFORNIA WATER SERVICE GROUP (Exact name of registrant as ...

Fourth Quarter and Full Year 2024 Earnings Presentation Forward-Looking Statements and Other Important Information 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. Forward-looking statements in this presentation are based on currently available informati ...

California Water Service Group (NYSE:CWT) Q4 2024 Earnings Conference Call February 27, 2025 11:00 AM ET Company Participants James Lynch - Chief Financial Officer Martin Kropelnicki - Chairman and Chief Executive Officer Greg Milleman - Vice President, Rates and Regulatory Affairs Conference Call Participants Jonathan Reeder - Wells Fargo Davis Sunderland - Baird Operator Hello, and thank you for standing by. I would like everyone to be welcome to the California Water Service Group Q4 2024 and Full Year Ea ...

Core Insights - California Water Service Group (CWT) reported fourth-quarter 2024 adjusted earnings of 33 cents per share, exceeding the Zacks Consensus Estimate of 15 cents by 120%, but down from 52 cents in the same quarter last year [1] - Full-year 2024 earnings reached $3.25 per share, a significant increase of 257.1% from the previous year's 91 cents [2] Revenue Performance - CWT's total operating revenues for the fourth quarter were $222.2 million, missing the Zacks Consensus Estimate of $231 million by 3.9%, but up 3.6% from $214.5 million in the prior-year quarter [3] - Full-year revenues amounted to $1.04 billion, reflecting a 30.5% increase from last year's $0.79 billion [3] Operational Update - Total operating expenses were $189.9 million, a 6% increase from $179.3 million in the year-ago quarter [4] - Water production costs rose by $3.4 million due to increased wholesale rates and higher consumption [4] - Maintenance expenses were reported at $8.7 million, up 9.8% year over year [4] - Net operating income was $32.3 million, down from $35.2 million in the same quarter last year [4] Financial Update - As of December 31, 2024, CWT had cash and cash equivalents of $50.1 million, up from $39.6 million a year earlier [6] - Net long-term debt totaled $1.10 billion, an increase from $1.05 billion as of December 31, 2023 [6] Interest Expenses - Net interest expenses were $14.9 million, a 20.6% increase from $12.3 million in the prior-year quarter, attributed to higher short-term borrowing rates and increased credit balances [5] Zacks Rank - CWT currently holds a Zacks Rank 4 (Sell) [7]

California Water Service Group (CWT) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 120%. A quarter ago, it was expected that this water utility would post earnings of $1.09 per share when it actually produced earnings of $1.03, delivering a surprise of -5.50%.Over the last four quar ...

Financial Performance - 2024 operating revenue reached $1.037 billion, a 30.9% increase from $794.6 million in 2023[6] - Diluted earnings per share for 2024 were $3.25, compared to $0.91 in 2023, marking a significant increase[6] - Net income attributable to the Group was $190.8 million in 2024, up from $51.9 million in 2023[9] - Operating revenue for the twelve months ended December 31, 2024, increased to $1,036,806,000, up 30.5% from $794,632,000 in 2023[26] - Net income for the twelve months ended December 31, 2024, was $190,085,000, compared to $51,376,000 in 2023, representing a significant increase of 269.5%[26] - Basic earnings per share for the twelve months ended December 31, 2024, was $3.26, compared to $0.91 in 2023, marking a substantial increase[26] - Dividends per share increased to $1.12 in 2024 from $1.04 in 2023, reflecting a growth of 7.7%[26] Capital Investments - Capital investments in 2024 totaled a record $471.0 million, representing a 23% increase year-over-year[12] - The Group plans to invest over $1.6 billion from 2025-2027 to enhance water supply reliability and sustainability[13] Operating Expenses - Operating expenses for 2024 were $811.8 million, an increase from $717.5 million in 2023, driven by higher water production costs[9] - Operating expenses for the twelve months ended December 31, 2024, totaled $811,752,000, an increase of 13.1% from $717,497,000 in 2023[26] - Interest expense for the twelve months ended December 31, 2024, was $60,698,000, up from $52,809,000 in 2023, indicating a rise of 15.5%[26] Assets and Equity - Total assets as of December 31, 2024, reached $5,180,283,000, a 12.7% increase from $4,595,533,000 in 2023[25] - Net utility plant increased to $4,158,704,000 in 2024, up 10.2% from $3,773,255,000 in 2023[25] - Total current assets rose to $324,136,000, reflecting an increase of 9.4% from $296,285,000 in 2023[25] - Total equity increased to $1,638,286,000, a growth of 14.5% from $1,430,312,000 in 2023[25] Rate Adjustments - Proposed rate adjustments include a 17.1% increase in 2026, a 7.7% increase in 2027, and an 8.1% increase in 2028[13] Regulatory Updates - The California Public Utilities Commission (CPUC) authorized a postponement of the 2025 Cost of Capital Application to May 1, 2026, maintaining a 10.27% return on equity[6][16] Revenue Adjustments - The Monterey-style Water Revenue Adjustment Mechanism (MWRAM) revenue increased by $5.5 million due to lower higher-tier water sales[8]

SAN JOSE, Calif., Feb. 27, 2025 (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 fourth quarter and full year of 2024. Highlights included: 2024 operating revenue of $1.037 billion, compared to $794.6 million in 2023Diluted earnings per share of $3.25 in 2024, compared to $0.91 in 2023Record capital investment of $471.0 million in w ...

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: ...

SAN JOSE, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- At its meeting on January 29, 2025, the California Water Service Group (NYSE: CWT) (Company) Board of Directors (Board) declared the company's 320th consecutive quarterly dividend in the amount of $0.30 per common share, this reflects an $0.08 annual increase that is expected to yield an annual dividend of $1.20. In addition, the Board declared a one-time special dividend in the amount of $0.04 per common share. Both the quarterly dividend and the special ...