DOVER, Del., Feb. 27, 2026 (GLOBE NEWSWIRE) -- Tidewater Utilities, Inc. (Tidewater), a water service provider and wholly owned subsidiary of Middlesex Water Company, today announced that it has received approval from the Delaware Public Service Commission (PSC) to refund approximately $1.1 million to customers through a one-time bill credit. The refund is funded by proceeds Tidewater received from litigation addressing per- and polyfluoroalkyl substances (“PFAS”) contamination. Tidewater will issue the one ...

Core Insights - California American Water announced an investment of over $200 million for infrastructure upgrades in 2025, aimed at enhancing system reliability and water quality for customers [1] - The investment is expected to create more than 2,000 jobs and focuses on modernizing aging infrastructure to minimize service disruptions [1] Investment Details - The 2025 capital expenditure includes: - Main Replacement: $17.9 million for 10.6 miles - Water Treatment Plants improvements: $4.4 million, including $2.6 million for two new plants for iron and manganese removal in the Hillview service area - Hydrants & Valve Replacements: $4.2 million for approximately fifty-five hydrants and ninety valves [1] Company Overview - American Water is the largest regulated water and wastewater utility company in the U.S., serving over 14 million people across 14 states and 18 military installations [1] - California American Water, a subsidiary of American Water, provides services to approximately 750,000 people [1]

Kelly said the revenue increase was offset by higher water production expense of $0.51 per share, reflecting $0.66 in higher water supply costs and an increase stemming from less surface water availability in California. Other operating expenses increased $0.73 per share, driven mainly by higher administrative and general expenses tied to reinvestment in strategic priorities during the second half of 2025 and higher insurance costs, as well as increased customer credit losses related to the non-recurrence o ...

Core Viewpoint - Pennsylvania American Water has launched the American Water Charitable Foundation's 2026 Water and Environment Grant Program, inviting community partners to apply for grants aimed at promoting clean water, conservation, environmental education, climate variability, and water-based recreation projects [1]. Group 1: Grant Program Details - The 2026 Water and Environment Grant Program encourages applications from community partners to support initiatives related to clean water and environmental education [1]. - In 2025, the American Water Charitable Foundation awarded a total of $1.7 million to 80 organizations across 12 states, including $205,000 to 19 organizations in Pennsylvania [1]. - The Foundation has invested over $25 million in funding through grants and matching gifts since its establishment in 2012, benefiting communities served by American Water [2]. Group 2: Community Impact - The grants support various projects, such as constructing playgrounds, distributing trees, expanding watershed education programs, and enhancing recreational destinations [1]. - The Foundation's focus is on three pillars: Water, People, and Communities, emphasizing the importance of local organizations in protecting water resources [2]. - Pennsylvania American Water serves approximately 2.5 million people, highlighting its commitment to environmental well-being and community collaboration [2].

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $2.20 for 2025, exceeding the guidance range of $2.07-$2.11, marking a significant increase from the previous year's non-GAAP EPS of $1.97 [7][12][18] - Revenues increased by 18.6%, rising from approximately $2.1 billion to nearly $2.5 billion, with regulatory recoveries contributing $177.6 million to this growth [12][13] - Operating and maintenance (O&M) expenses rose by 8.9% year-over-year, totaling an increase of $52.3 million [15] Business Line Data and Key Metrics Changes - The water business executed a $450 million PFAS capital plan, deploying over 50 advanced treatment systems [9] - The natural gas segment achieved the installation of its 100,000th Intelis meter in 2025 [9] - The company completed three municipal acquisitions in 2025, adding over 12,700 new customers [21] Market Data and Key Metrics Changes - Customer growth contributed $5.6 million to revenue, while lower water volumes due to wetter weather offset revenue growth by $8.6 million [13] - The company reported a favorable regulatory recovery totaling $101.5 million in incremental annualized revenue, with $92.6 million related to water and wastewater business [20] Company Strategy and Development Direction - The company aims to maintain a long-term goal of delivering 5%-7% EPS growth from 2024 through 2027, excluding non-recurring items [19][24] - The merger with American Water is expected to create a premier multi-state utility with low risk and first quartile growth, with regulatory approvals anticipated to close in the first quarter of 2027 [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory relationships built over the years, which are expected to facilitate a constructive outcome for the merger [5] - The company remains committed to balancing responsible investments in infrastructure with customer affordability amid ongoing discussions about utility costs [11] Other Important Information - The company was recognized as one of Newsweek's America's Most Responsible Companies for the fifth consecutive year and named to USA Today's America's Climate Leaders for the third consecutive year [10] - The company plans to invest $1.7 billion in regulated infrastructure in 2026 [25] Q&A Session Summary Question: What would the non-GAAP 2025 be with adjustments? - Management did not specify the number but indicated that favorable non-recurring items would still place results above the guidance range [30][31] Question: Timing for the next round of Pennsylvania rate cases? - Management indicated that filings would follow a historical two-year cadence, suggesting a relatively quick timeline [32] Question: Could regulatory activity be combined with the merger sign-off? - Management clarified that these would be considered separate dockets and adjudicated separately [41][42]

California Water Service Group (NYSE:CWT) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsGreg Milleman - VP of Rates and Regulatory Affairs OfficerJames Lynch - SVP, CFO and TreasurerMarty Kropelnicki - Chairman, President and CEOShilen Patel - Chief Business Development Officer and VPConference Call ParticipantsDavis Sunderland - Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this ...

California Water Service Group (NYSE:CWT) Q4 2025 Earnings call February 26, 2026 11:00 AM ET Company ParticipantsGreg Milleman - VP of Rates and Regulatory Affairs OfficerJames Lynch - SVP, CFO and TreasurerMarty Kropelnicki - Chairman, President and CEOShilen Patel - Chief Business Development Officer and VPConference Call ParticipantsDavis Sunderland - Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $2.20 for 2025, exceeding the guidance range of $2.07-$2.11, and representing significant growth from the previous year's non-GAAP EPS of $1.97 [6][12][18] - Revenues increased by 18.6%, rising from approximately $2.1 billion in 2024 to nearly $2.5 billion in 2025, with regulatory recoveries contributing $177.6 million to this increase [12][13] - Operating and maintenance (O&M) expenses rose by 8.9% year-over-year, totaling an increase of $52.3 million, driven by higher employee-related costs and increased production costs [14] Business Line Data and Key Metrics Changes - The water business executed a $450 million PFAS capital plan, deploying over 50 advanced treatment systems across Pennsylvania and North Carolina [9] - The natural gas segment achieved the installation of its 100,000th Intelis meter in 2025, contributing to operational efficiency [9] - The company completed three municipal acquisitions in 2025, adding over 12,700 new customers and showcasing its growth strategy [21] Market Data and Key Metrics Changes - The company experienced customer growth that added $5.6 million in revenue, although lower water volumes due to wetter weather offset this growth by $8.6 million [13] - Regulatory recoveries totaled $101.5 million in 2025, with $92.6 million related to the water and wastewater business [20] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet, improving cash flow, and delivering consistent dividend growth while keeping the payout ratio between 60% and 65% [24] - The merger with American Water is expected to close in the first quarter of 2027, with the company optimistic about leveraging combined resources for business development [5][21] - The company reaffirmed its long-term goal of delivering 5%-7% EPS growth from 2024 through 2027, excluding non-recurring items [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory relationships built over the years, which are expected to facilitate a constructive outcome for the merger [5] - The company emphasized its commitment to sustainability and affordability, balancing investments in infrastructure with customer bill impacts [11][25] - Management highlighted the importance of maintaining high-quality service while managing operating costs amid national discussions on affordability [11] Other Important Information - The company was recognized as one of Newsweek's America's Most Responsible Companies for the fifth consecutive year and named to USA Today's America's Climate Leaders for the third consecutive year [10] - The company plans to invest $1.7 billion in regulated infrastructure in 2026, reflecting its commitment to enhancing service reliability [25] Q&A Session Summary Question: What would the non-GAAP 2025 be with adjustments? - Management did not specify the exact number but indicated that the results remained favorable to the guidance range [30][31] Question: Timing for the next round of Pennsylvania rate cases? - Management suggested that filings would occur relatively quickly, following a historical two-year cadence [32] Question: Could regulatory activity be combined with merger sign-off? - Management clarified that rate cases and regulatory activities are considered separate dockets and will be adjudicated separately [40][41] Question: Options for the bankruptcy exit for Chester? - Management discussed the implications of the Supreme Court ruling and potential negotiations regarding assets related to the Chester Water Authority [44][46]

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $220 million, a slight decrease from $222 million in Q4 2024. Net income for the quarter was $11.5 million, or $0.19 per diluted share, compared to $19.7 million, or $0.33 per diluted share in the prior year [11][12] - For the full year 2025, operating revenue was $1 billion, compared to $1.37 billion in 2024. When compared to non-GAAP 2024 revenue of $949.3 million, revenue increased by $50.8 million, or approximately 5.4%. Net income attributed to the group was $128.2 million, compared to $190.8 million in 2024, reflecting a 1% increase when compared to non-GAAP 2024 income [13][14] Business Line Data and Key Metrics Changes - The company invested a record $517 million into infrastructure systems in 2025, including $52.3 million in Q4 alone, representing a 19.8% increase over construction levels in 2024 [9][15] - The company maintained an A+ stable credit rating from S&P, one of the highest-rated credit utilities in North America [10] Market Data and Key Metrics Changes - The company experienced a significant weather impact in December 2025, which negatively affected financial results, particularly in California due to exceptionally wet and cold weather [8][11] - The company received approval for a 3% interim rate increase in California, implemented in January 2026, following a delay in the rate case decision [10][12] Company Strategy and Development Direction - The company announced the acquisition of Nevada and Oregon operations from Nexus Water, which will expand its geographical footprint and solidify its position in the Western U.S. water industry [4][22] - The company plans to continue pursuing growth opportunities in high-growth areas and strategic acquisitions that align with its capital investment strategy [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the timely completion of the 2024 California General Rate Case, highlighting proactive engagement with regulators and a focus on affordability for customers [35][56] - The company is committed to addressing PFAS regulations and has allocated significant capital for related projects, with plans to spend between $50 million and $70 million in 2026 [66][68] Other Important Information - The company declared its 324th consecutive quarterly dividend of $0.33 per share and announced an intended annual dividend of $1.34 per share for 2026, representing an 8.1% increase over 2025 [19][20] - The company maintains a strong liquidity profile with $51.8 million in unrestricted cash and $45.6 million in restricted cash, along with approximately $470 million available on bank lines of credit [18] Q&A Session Summary Question: Is the delay of cases something that should be expected as a new norm? - Management indicated that recent efforts by the California Water Association have focused on educating commissioners about the impacts of delays, leading to a more timely process for future cases [51][56] Question: What are the regulatory mechanisms in Oregon or Nevada? - Management highlighted that Nevada has a reasonable commission allowing phased-in statewide rates and a hybrid rate environment, while Oregon has mechanisms for interim rates and construction work in progress [59][60] Question: Update on PFAS funding and plans? - Management confirmed ongoing plans to address PFAS regulations, with significant spending allocated for treatment and infrastructure improvements, emphasizing the importance of water quality [66][68]

New Jersey American Water Invests Over $781 Million in 2025 Statewide Infrastructure Upgrades [Accessibility Statement] Skip NavigationStrengthening System Reliability and Water Quality for CustomersCAMDEN, N.J., Feb. 25, 2026 /PRNewswire/ -- New Jersey American Water today announced that it invested more than $781 million in [water and wastewater system improvements] across the Garden State in 2025 - a significant increase from the approximately $520 million invested in 2024. This year-over-year growth ref ...