California Water Service Group

California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The company was founded in 1926 and is headquartered in San Jose, CA.

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California Water Service Group reports record performance amidst supply chain challenges

California Water Service Group (CWT) navigated challenges in supply chain disruptions and regulatory matters to achieve a record quarter and year in Q4 2022.
The company's focus on business development outside California and commitment to infrastructure investments highlight strategic growth initiatives.
Despite a decrease in EPS for 2022, CWT remains optimistic about future business development opportunities, especially in the water and wastewater sectors.
Leadership changes, supply chain challenges, and ongoing regulatory discussions shape CWT's operational landscape, with a focus on resilience and growth.

California Water Service Group reports Q1 challenges, eyes growth opportunities

California Water Service Group faces revenue challenges in Q1 2023 due to weather and regulatory gaps but maintains a focus on growth and efficiency.
Despite market complexities, CWT is leveraging partnerships, acquisitions, and favorable rate-making processes to drive strategic expansion.
Operational challenges persist amidst regulatory uncertainties, emphasizing the need for transparency and adaptability in decision-making.
The company's proactive stance on ESG initiatives and compliance underscores a commitment to sustainability and regulatory compliance.

California Water Service Group reports Q2 earnings decline, eyes growth

California Water Service Group faced challenges with delayed revenue decisions and the California general rate case, impacting operating revenue in Q2 2023.
Despite these challenges, the company demonstrated strengths in significant capital investments and proactive steps to enhance financial performance.
Opportunities lie in executing the business plan effectively, leveraging the filed advice letter to increase operating revenues, and upcoming insights from the Q3 earnings call.

California Water Service Group navigates challenges, eyes growth opportunities

California Water Service Group faced challenges from the delayed rate case but maintained strong liquidity and robust capital investments.
The company's performance in Q3 2023 showcased resilience amidst challenges, with a focus on growth and shareholder value.
Anticipation for future dividend increases, strategic acquisitions, and continued growth in 2024 highlight the company's positive outlook.

California Water Service Group reports mixed 2023 results, focuses on resilience and growth

California Water Service Group navigated financial challenges in 2023, focusing on capital investments, regulatory proceedings, and customer service.
Despite setbacks, the company demonstrated resilience, operational excellence, and a proactive approach to addressing climate change and regulatory uncertainties.
Opportunities lie in strategic investments, ESG initiatives, and maintaining a customer-centric approach to drive long-term growth and sustainability.
Balancing financial performance with regulatory compliance and infrastructure needs will be key for California Water Service Group's future success and resilience.

California Water Service Group reports robust Q1 earnings and navigates regulatory challenges

California Water Service Group (CWT) delivered strong financial results in Q1 2024, driven by revenue growth and improved earnings. The company is focused on sustainable growth, compliance, and strategic financial management.
While facing challenges such as PFAS treatment implementation and regulatory uncertainties, CWT is proactively addressing these issues to mitigate risks and capitalize on market opportunities.
Opportunities lie in leveraging expertise in PFAS treatment, assisting water systems with compliance challenges, and enhancing shareholder value through dividend growth and strategic financial initiatives.

California Water Service Group reports stellar Q2 results and ESG leadership

California Water Service Group's Q2 2024 performance reflects a robust financial outlook, driven by revenue growth, profitability, and strategic investments in infrastructure.
The company's emphasis on ESG initiatives and regulatory compliance positions it well for long-term sustainability and value creation.
While facing regulatory and operational challenges, CWT's proactive approach and strong financial foundation offer opportunities for growth and stakeholder engagement.

California Water Service Group posts robust Q3 results amid challenges

California Water Service Group (CWT) delivered strong financial results in Q3 2024, driven by new rates and rate structures, despite challenges in rising operating expenses.
The company's robust capital investments, stable capital structure, and consistent dividend payouts underscore its financial strength and commitment to shareholders.
Opportunities lie in strategic financing, proposed investments, and environmental leadership initiatives, positioning the company for continued growth and operational excellence.

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California Water Service Group is a holding company, which engages in the provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly owned subsidiaries. The firm is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public, and irrigation uses, and fire protection. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The company was founded in 1926 and is headquartered in San Jose, CA.

SAN JOSE, Calif., Jan. 30, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced that Shawn C. Bunting, Esq. will join the company as Vice President, General Counsel and Corporate Secretary, effective March 1, 2023. He succeeds Lynne P. McGhee, who will retire after more than 19 years of service.

California Water Service Group Announces Addition of Shawn C. Bunting as Vice President, General Counsel and Corporate Secretary

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Acquisition Would Expand Utility to Almost 16,000 Connections Acquisition Would Expand Utility to Almost 16,000 Connections

New Mexico Water Service to Acquire Lake Section Water Company

SAN JOSE, Calif., Jan. 25, 2023 (GLOBE NEWSWIRE) -- At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 312th consecutive quarterly dividend, increasing the annual dividend by $0.04, or 4.0%, from $1.00 to $1.04. This represents the company's 56th consecutive annual dividend increase. The quarterly dividend of $0.26 per common share will be payable on February 17, 2023 to stockholders of record on February 6, 2023.

California Water Service Group Board of Directors Declares 312th Consecutive Quarterly Dividend and 56th Consecutive Annual Dividend Increase

SAN JOSE, Calif., Jan. 24, 2023 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) customers surpassed the state's conservation target of 15% in December 2022, saving 16.5% company-wide over December 2020. This is the eighth month in a row Cal Water customers reduced their water use, with 11 districts saving more than 15%.

California Water Service Customers Saved 16.5 Percent Water in December, Eighth Straight Month of Savings

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SAN JOSE, Calif., Jan. 17, 2023 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE: CWT) announced the commencement of its 10th annual College Scholarship Program cycle today, reaffirming the utility's commitment to improving lives in its communities. Students residing in areas served by its California, Hawaii, New Mexico, and Washington subsidiaries are encouraged to apply for a portion of the $80,000 available in awards.

California Water Service Group Launches 10th Annual College Scholarship Program, Encourages Students to Learn More and Apply

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BlackRock, Kimberly-Clark Among 13 Companies To Start 2023 With Annual Dividend Increases

SAN JOSE, Calif., Dec. 22, 2022 (GLOBE NEWSWIRE) -- Although the weather has started to cool, California Water Service (Cal Water) customers continued to reduce their water use for the seventh month in a row in November. More than half of Cal Water's districts surpassed 15% in reductions; company-wide, Cal Water reduced water use by 13.6% compared to November 2020.

California Water Service Sees Seventh Straight Month of Water Savings

SAN JOSE, Calif., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Hawaii Water Service (Hawaii Water), a subsidiary of California Water Service Group (Group) (NYSE: CWT), has completed the purchase of Keauhou Community Services, Inc.'s (KCSI) wastewater system assets following approval by the Hawaii Public Utilities Commission earlier this fall. Additionally, Group subsidiary California Water Service (Cal Water) received approval from the California Public Utilities Commission (CPUC) to acquire the water system assets of King's Mountain Park Mutual Water Company (King's Mountain).

California Water Service Group Utilities Complete Acquisition of Keauhou Wastewater System in Hawaii, Receive CPUC Approval to Acquire King's Mountain Water System in California

Grants from Department of Water Resources to Support Disadvantaged Communities Grants from Department of Water Resources to Support Disadvantaged Communities

California Water Service Partners With County of Tulare and Local Community Organizations to Consolidate Struggling Central Valley Water Users

The company that I reviewed back in September - California Water Service - has slightly outperformed the market. I was neutral on the company, viewing it as somewhat too pricey. The market saw this as wrong.

Time For A Review Of California Water Service - It Remains A 'Hold'

SAN JOSE, Calif., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Newsweek magazine today recognized California Water Service Group (Group) (NYSE: CWT) on its 2023 list of “America's Most Responsible Companies.” The distinction was presented to Group for the second year in a row by Newsweek and Statista Inc., the world's leading statistics portal and industry ranking provider, for the utility's efforts related to environmental, social, and governance (ESG) matters.

California Water Service Group Honored as One of “America's Most Responsible Companies” by Newsweek

SAN JOSE, Calif., Dec. 06, 2022 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE : CWT) today announced the promotion of Thomas A. Scanlon to Corporate Controller and Principal Accounting Officer and Justin B. Skarb to Vice President, Government & Community Affairs, effective January 1, 2023.

California Water Service Group Promotes Thomas A. Scanlon to Corporate Controller and Principal Accounting Officer and Justin B.

SAN JOSE, Calif., Nov. 30, 2022 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) customers reduced their water use for the sixth month in a row in October. Ten of Cal Water's districts surpassed 15% in reductions; company-wide, Cal Water reduced water use by 12.1% compared to October 2020.

California Water Service Sees Sixth Straight Month of Water Savings

California Water Service's (CWT) subsidiary, Washington Water Service, acquired Driftwood Valley Association's water assets, further expanding its operations.

California Water's (CWT) Arm Buys Driftwood Valley Water Assets

GIG HARBOR, Wash., Nov. 22, 2022 (GLOBE NEWSWIRE) -- Washington Water Service (Washington Water), a subsidiary of California Water Service Group (Group), announced today that it has completed the acquisition of Driftwood Valley Association's water system assets. Washington Water will now provide water utility service to Driftwood Valley Homeowner Association's 62 customers in Yelm, Wash.

Washington Water Service Completes Acquisition of Driftwood Valley Water

SAN JOSE, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) today announced the recipients of its fourth annual Firefighter Grant Program; the utility provided a total of $185,763 in grants to seven fire departments, surpassing last year's $175,000.

California Water Service Bestows More Than $185,000 in Grants to Seven Fire Departments

K-12 Teachers and Students Encouraged to Engage in Water Conservation Projects K-12 Teachers and Students Encouraged to Engage in Water Conservation Projects

California Water Service Launches Ninth Annual H2O Challenge Conservation Competition

SAN JOSE, Calif., Nov. 01, 2022 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) customers reduced their water use for the fifth month in a row in September, despite a record-breaking heat wave that began the month. Seven of Cal Water's districts surpassed 15% in reductions; company-wide, Cal Water reduced water use by 10.6% compared to September 2020.

California Water Service Sees Fifth Straight Month of Water Savings During September 2022, Reminds Customers of Increased Rebates

California Water Service's (CWT) third-quarter earnings are lower than expected. CWT reiterates its long-term capital expenditure plan to strengthen infrastructure.

California Water (CWT) Q3 Earnings Miss Estimates, Sales Beat

California Water Service Group (NYSE:CWT ) Q3 2022 Earnings Conference Call October 27, 2022 11:00 AM ET Company Participants David Healey - VP, Corporate Controller, Assistant Treasurer & CAO Thomas Smegal - VP, CFO & Treasurer Greg Milleman - VP, Rates and Regulatory Affairs Martin Kropelnicki - President, CEO & Director Paul Townsley - VP, Corporate Development Conference Call Participants Angie Storozynski - Seaport Research Partners Jonathan Reeder - Wells Fargo Securities Operator Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today.

California Water Service Group (CWT) Q3 2022 Earnings Call Transcript

California Water Service Group (CWT) delivered earnings and revenue surprises of -11.21% and 4.43%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

California Water Service Group (CWT) Q3 Earnings Lag Estimates

SAN JOSE, Calif., Oct. 27, 2022 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) ( “Group”) today announced net income attributable to Group of $55.9 million or $1.03 earnings per diluted common share for the third quarter of 2022, compared to a net income attributable to Group of $62.4 million or $1.20 earnings per diluted common share for the third quarter of 2021.

California Water Service Group Announces Third Quarter 2022 Results

SAN JOSE, Calif., Oct. 26, 2022 (GLOBE NEWSWIRE) -- At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 311th consecutive quarterly dividend in the amount of $0.25 per common share. It will be payable on November 18, 2022 to stockholders of record on November 7, 2022.

California Water Service Group Board of Directors Declares 311th Consecutive Quarterly Dividend

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