SAN JOSE, Calif., Dec. 15, 2025 (GLOBE NEWSWIRE) -- H2O America today announced that Eric W. Thornburg will retire as non-executive chair of the board of directors, effective Jan. 31, 2026. Mr. Thornburg has served the company with distinction for many years, including as chair, president, and CEO, and most recently as non-executive chair of the board. His leadership has been instrumental in shaping H2O America’s mission and its commitment to delivering high-quality, reliable water service to communities ac ...

Core Points - The California Public Utilities Commission (CPUC) has approved California Water Service (Cal Water) and three other utilities to delay their Cost of Capital applications from May 1, 2026, to May 1, 2027, maintaining a 10.27% return on equity (ROE) and 4.23% cost of debt for Cal Water [1] - Cal Water's capital structure consists of 53.40% common equity and 46.60% long-term debt, with an authorized rate of return set at 7.46% [1] - The CPUC has reauthorized the Water Cost of Capital Mechanism (WCCM), which adjusts the rate of return based on fluctuations in the Moody's Utilities Bond Index, with the next measurement date on September 30, 2026 [2] - Any changes to the ROE from the WCCM will take effect on January 1, 2027, if necessary [2] - The extension of the Cost of Capital proceeding is expected to alleviate workload for the CPUC, which is currently managing six water utility General Rate Cases and three ongoing rulemaking proceedings related to water [3] - This extension is also anticipated to reduce the frequency of rate changes for customers [3] - California Water Service Group operates several regulated utilities across multiple states, providing water and wastewater services to over 2.1 million people [3]

Core Insights - California Water Service Group reported strong financial results for Q3 2025, reflecting a focus on expense control, infrastructure investment, and customer service [1][3]. Financial Highlights - Q3 2025 net income was $61.2 million with diluted EPS of $1.03, consistent with Q3 2024 [7]. - Revenue for Q3 2025 increased by $11.6 million or 3.9% to $311.2 million compared to $299.6 million in Q3 2024 [8]. - Operating expenses in Q3 2025 rose by $7.8 million or 3.4% to $240.6 million compared to $232.8 million in Q3 2024 [8]. - Year-to-date (YTD) 2025 net income was $116.7 million or $1.96 per diluted share, a decrease of 31.8% compared to YTD 2024 [8]. - YTD 2025 revenue decreased by $34.4 million or 4.2% to $780.2 million compared to $814.6 million in 2024 [8]. Capital Investment and Financing - The company invested $135.2 million in water system infrastructure during Q3 2025, a 14.8% increase from Q3 2024 [7]. - As of September 30, 2025, cash and cash equivalents totaled $76.0 million, with an additional short-term borrowing capacity of $255.0 million [10]. - The company announced the sale of $170.0 million in Senior Unsecured Notes and $200.0 million in First Mortgage Bonds [11][12]. Regulatory Updates - Inflation-based interim rate increases for California Water Service are authorized effective January 1, 2026, until a final decision is issued in the 2024 General Rate Case [7][14]. - Hawaii Water Service received approval to increase annual revenues by $4.7 million in its Waikoloa systems [16]. Community Engagement and Recognition - The company opened its seventh annual Firefighter Grant Program to support local fire departments [19]. - Recognized among the "World's Most Trustworthy Companies" for the third consecutive year and certified as a Great Place To Work for ten consecutive years [20]. Dividend Information - The company declared its 323rd consecutive quarterly dividend of $0.30 per share, with a five-year compound annual dividend growth rate of 7.7% [7][21].

Core Points - California Water Service Group declared its 323rd consecutive quarterly dividend of $0.30 per common share, payable on November 21, 2025, to stockholders of record as of November 10, 2025 [1] Company Overview - California Water Service Group is the parent company of several regulated utilities, including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, providing water and wastewater services to over 2.1 million people across these states [2]

Core Points - Hawaii Water Service has received approval to increase annual revenue by $4.7 million to support investments in water and wastewater systems, inflation, and operating costs [1] - The company has invested approximately $33 million in its Waikoloa systems since the last rate adjustment in 2019 [2] - The new rates, effective October 9, 2025, include a fixed charge for non-residential water system customers for conservation-related activities [3] Investment and Infrastructure - Almost $17 million has been allocated for improvements to drinking water wells and sewer pump stations, including backup power generators [5] - More than $8 million has been invested in transmission and distribution pipelines to reduce leaks and enhance reliability [5] - Nearly $8 million has been dedicated to water and wastewater treatment plant improvements to meet water quality standards and increase treatment capacity [5] Company Overview - California Water Service Group is the parent company of Hawaii Water Service and other regulated utilities, serving over 2.1 million people across multiple states [4]

Core Points - California Water Service Group will release its third-quarter earnings results for 2025 on October 30, 2025, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET [1] - The conference call will be hosted by key executives including Chairman and CEO Martin A. Kropelnicki, CFO James P. Lynch, and VP Greg A. Milleman [2] - The company provides regulated and non-regulated water and wastewater services to over 2 million people across multiple states [3] Company Information - California Water Service Group operates as a utility holding company with subsidiaries in California, Hawaii, New Mexico, Texas, and Washington [3] - The company's common stock is traded on the New York Stock Exchange under the symbol "CWT" [3] - Additional information about the company can be found on its official website [3]

Core Insights - California Water Service Group reported solid financial performance for Q2 2025, reflecting effective cost management and ongoing rate proceedings across multiple states [3][4] - The company continues to focus on capital delivery plans while ensuring safe and affordable water services for customers [4] Financial Highlights - Q2 2025 net income was $42.2 million, or $0.71 per diluted share, representing a 3.9% increase from Q2 2024's net income of $40.6 million, or $0.70 per diluted share [6][7] - Year-to-date (YTD) 2025 net income decreased by 49.8% to $55.5 million, or $0.93 per diluted share, compared to $110.5 million, or $1.90 per diluted share in YTD 2024 [7][14] - Q2 2025 revenue increased by $20.7 million, or 8.5%, to $265.0 million compared to $244.3 million in Q2 2024 [7] - YTD 2025 revenue decreased by $46.1 million, or 9.0%, to $468.9 million compared to $515.0 million in YTD 2024 [7] Capital Investments and Infrastructure - The company invested $119.4 million in water system infrastructure during Q2 2025 and $229.5 million YTD 2025, marking a 7.0% increase compared to YTD 2024 [6][12] - The 2024 California General Rate Case (GRC) is progressing on schedule, with proposed investments exceeding $1.6 billion from 2025 to 2027 [13][14] Regulatory and Legal Developments - The company executed an agreement to own and operate the Silverwood wastewater and recycled water systems, expected to serve approximately 500 connections initially, with full buildout projected to exceed 15,000 connections [16][17] - The company received $10.6 million from the first installment of PFAS litigation settlement proceeds, which will be used to offset capital expenditures for compliance with PFAS regulations [18] Sustainability and Dividends - The 2024 Sustainability Report highlighted a 23.5% reduction in Scope 1 and 2 greenhouse gas emissions from the 2021 baseline and 100% compliance with water quality standards [19][21] - The company declared its 322nd consecutive quarterly dividend of $0.30 per share, reflecting a 58-year history of dividend increases and a five-year compound annual growth rate of 7.7% [19][21]

Core Points - California Water Service Group declared its 322nd consecutive quarterly dividend of $0.30 per common share, payable on August 22, 2025, to stockholders of record as of August 11, 2025 [1] Company Overview - California Water Service Group is the parent company of several regulated utilities, including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, providing water and wastewater services to over 2.1 million people across these states [2]

Core Points - California Water Service Group will release its 2025 second-quarter earnings results on July 31, 2025, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET [1] - The conference call will be hosted by key executives including Chairman and CEO Martin A. Kropelnicki, CFO James P. Lynch, and Chief Business Development Officer Shilen M. Patel [2] - A slide presentation will be available on the company's website prior to the call [2] Company Overview - California Water Service Group is the parent company of several regulated utilities, including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service [3] - The company provides regulated and non-regulated water and wastewater services to over 2 million people across California, Hawaii, New Mexico, Texas, and Washington [3] - The common stock of California Water Service Group trades on the New York Stock Exchange under the symbol "CWT" [3]

Core Insights - California Water Service Group has received an A+/Stable credit rating from S&P Global for its largest subsidiary, California Water Service (Cal Water), indicating an "excellent" business risk rating and "intermediate" financial risk rating [1] - The Chairman & CEO, Martin A. Kropelnicki, expressed satisfaction with the rating, highlighting it as validation of Cal Water's strong balance sheet, fiscal discipline, and credit metrics, which enable responsible infrastructure investments [1] Company Overview - California Water Service Group is the parent company of several regulated utilities, including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, collectively serving over 2.1 million people across multiple states [2] - The company's common stock is traded on the New York Stock Exchange under the symbol "CWT" [2]