California Water Service Group ( (CWT) ) has released its Q2 earnings. Here is a breakdown of the information California Water Service Group presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
California Water Service Group, a prominent water utility company, operates in California, Hawaii, New Mexico, Washington, and Texas, providing regulated and non-regulated water and wastewater services to over 2.1 million people. In its second quarter of 2025, the company reported a net income of $42.2 million, or $0.71 per diluted share, and invested $119.4 million in water system infrastructure. The company also received the first installment of a PFAS litigation settlement totaling $10.6 million and maintained an A+/Stable credit rating from S&P Global.
The company’s revenue for Q2 2025 increased by 8.5% to $265.0 million, driven by rate changes and increased customer water usage. However, operating expenses also rose by 8.7% to $213.1 million due to higher water production costs and other operational expenses. Year-to-date, the company’s net income decreased by 49.8% compared to the previous year, primarily due to changes in regulatory mechanisms and interim rate relief recorded in 2024.
California Water Service Group continues to advance its 2024 California General Rate Case, proposing significant investments in infrastructure improvements and rate adjustments through 2028. The company also signed an agreement to own and operate the wastewater and recycled water systems for the Silverwood community in California, which is expected to expand significantly in the coming years.
Looking forward, California Water Service Group remains committed to its capital delivery plan and sustainability targets, as highlighted in its 2024 Sustainability Report. The company aims to maintain its focus on delivering safe, reliable, and affordable water services while navigating regulatory proceedings and expanding its operations.