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California Water Service (CWT)
NYSE:CWT
Earnings Data
Report Date
Jul 24, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.59Last Year’s EPS
0.7Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 01, 2025
|% Change Since: -5.24%
|Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong performance for the first quarter, with significant revenue and net income growth on a non-GAAP basis, major capital investments, and favorable regulatory outcomes. However, the inability to reach a settlement in the California General Rate Case and the drop in revenue and net income on a GAAP basis compared to the prior year temper the positive news.Company Guidance
During the California Water Service Group's first-quarter 2025 earnings call, several financial metrics and guidance points were highlighted. The company reported a GAAP operating revenue of $204 million compared to $270.7 million in the first quarter of 2024. Net income attributed to the group was $13.3 million or $0.22 per diluted share, down from $69.9 million or $1.21 per diluted share in Q1 of 2024. Adjusting for the Q1 2024 interim rate relief, first-quarter revenue increased 13% over non-GAAP 2024 revenue of $180.5 million, while net income and diluted earnings per share rose by 225% and 214%, respectively, over Q1 2024's non-GAAP income metrics. The company also invested $110.1 million in capital during the quarter and expects a compounded annual rate base growth of approximately 11.7%, contingent on the outcome of their 2024 general rate case in California. Additionally, the company maintained a strong liquidity profile with $44.5 million in unrestricted cash and $315 million available on credit lines. The board declared a quarterly dividend of $0.30 per share, marking the 321st consecutive quarterly dividend.Strong First Quarter Performance
California Water Service Group reported a surprisingly strong first quarter despite it being a typically challenging period. Operating revenue increased 13% over non-GAAP 2024 revenue of $180.5 million. Net income and diluted earnings per share increased 225% and 214%, respectively, over Q1 2024 non-GAAP income and earnings per share.
Significant Capital Investments
The company reported capital investments during the quarter totaling $110.1 million, maintaining the record pace set in Q1 2024.
Regulatory Progress and Rate Increases
There were several favorable regulatory decisions, including a $27.2 million revenue requirement increase in California and a $1.1 million revenue increase in Hawaii. The Palos Verdes project received approval for $14.2 million incremental capital costs and a temporary surcharge for $3.8 million in carrying costs.
Dividend Increase
The Board of Directors approved a 321st consecutive quarterly dividend, increasing the annual dividend by 10.7% to $1.24 per share.
Healthy Water Supply Outlook
California reported a 99% normal snowpack, with major reservoirs above historical averages, indicating no significant water supply issues anticipated in the summer months.
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CWT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CWT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2025 | $50.34 | $49.91 | -0.85% |
Feb 27, 2025 | $45.68 | $44.68 | -2.19% |
Oct 31, 2024 | $50.30 | $50.96 | +1.31% |
Aug 01, 2024 | $52.16 | $52.56 | +0.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does California Water Service (CWT) report earnings?
California Water Service (CWT) is schdueled to report earning on Jul 24, 2025, TBA Not Confirmed.
What is California Water Service (CWT) earnings time?
California Water Service (CWT) earnings time is at Jul 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CWT EPS forecast?
CWT EPS forecast for the fiscal quarter 2025 (Q2) is 0.59.
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