California Water Service(US:CWT) ZACKSยท2025-02-27 17:10Core 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]