California Water Service (CWT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 23, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.23

Last Year’s EPS

0.22

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 1 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 25, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a balanced but constructive outlook: management reported record capital investment, strategic acquisitions (Nevada, Oregon, Texas) expected to be accretive, maintained strong liquidity and credit ratings, and delivered non‑GAAP revenue and net income growth. However, near‑term results were materially pressured by an extreme weather event that significantly reduced Q4 consumption and earnings, ongoing PFAS capital requirements (~$235M remaining) with limited recoveries so far, and regulatory timing/affordability scrutiny that adds uncertainty around rate relief. Overall, the company appears financially stable with clear growth and investment initiatives, but faces identifiable near-term headwinds that management is actively addressing.

Company Guidance

The call’s forward-looking guidance emphasized near‑term regulatory milestones and continued capital deployment: management expects a proposed decision in the 2024 California GRC “very soon” (company noted a PD could be issued by March 5 with a possible final vote April 9) and said approval of the 2024 GRC plus planned investments and the Nevada/Oregon acquisitions would drive compounded annual rate‑base growth of almost 12% through 2027; the Nexus deal adds roughly $109M of rate base at ~2x rate base purchase price, ~36,000 equivalent residential units, and is expected to be accretive in year one with initial Nexus CapEx of about $20–30M. They reaffirmed a heavy capital program (2025 CapEx $517.0M, Q4 $52.3M), noted PFAS program spend of ~$20M in 2025 with expected PFAS spend of $50–70M in 2026 and ~$235M of anticipated remaining PFAS expenditures (not included in 2026–27 CapEx estimates), and outlined liquidity/financing capacity of $51.8M unrestricted cash, $45.6M restricted cash, ≈$470M available on bank lines, $600M credit facilities expandable to $800M and $370M of long‑term financings issued Oct 1, 2025. They also highlighted regulatory wins and expectations (3% interim California rate implemented Jan 2026, Nevada DSIC/decoupling and six‑month case timelines, Washington and Hawaii filings seeking $4.9M and $2.2M annual revenue increases respectively), preserved a 10.27% ROE in California through Jan 2028, and reiterated shareholder return plans (324th consecutive quarterly dividend of $0.33 and intended 2026 annual dividend of $1.34, an ~8.1% increase).

Strategic Acquisitions Expand Footprint

Agreement to purchase Nexus Water's Nevada and Oregon operations (adds ~36,000 equivalent residential units and ~$109,000,000 of rate base; purchase price ~2x rate base) and acquisition of remaining minority interest in BVRT (becoming sole owner of seven Texas water/wastewater utilities). Management expects Nexus deal to be accretive in year one after integration costs.

Record Capital Investment

Invested a record $517,000,000 in infrastructure in 2025, including $52,300,000 in Q4 — a 19.8% increase in construction vs. 2024. Company projects compounded annual rate base growth of ~12% through 2027 if 2024 California GRC is approved as requested.

Dividend and Shareholder Returns

Increased annual dividend by a record 10.7% in 2025 and announced a further intended 2026 annual dividend of $1.34 per share (a $0.10 or 8.1% increase). Declared the 324th consecutive quarterly dividend of $0.33 per share.

Credit Strength and Liquidity

Maintained A+ stable credit ratings from S&P for Group and Cal Water. Year-end liquidity included $51.8M unrestricted cash, $45.6M restricted cash, ~$470M available on bank lines, $600M credit facilities (expandable to $800M), and $370M of long-term financing issued Oct 1, 2025.

Underlying Revenue and Net Income Growth (Non-GAAP)

Operating revenue for 2025 was $1,000,000,000. Versus 2024 non-GAAP revenue of $949,300,000, revenue increased $50,800,000 or ~5.4%. Net income attributable to Group was $128,200,000 versus 2024 non-GAAP $126,800,000 (a ~1% increase). Diluted EPS was essentially flat vs. 2024 non-GAAP ($2.15 in 2025 vs. $2.16 non-GAAP in 2024).

Regulatory Wins and ROE Protection

Received California extension to retain a 10.27% ROE through Jan 2028 (noted as one of the highest ROEs for a North American water utility). Received commission approval to implement a 3% interim rate increase in California in January.

PFAS Program Progress and Planning

PFAS program execution underway as a corporate PMO. Spent ~ $20,000,000 on PFAS in 2025 and expects to spend $50,000,000–$70,000,000 in 2026. Company pursuing recoveries and grants to fund investments.

Texas Growth Pipeline

BVRT platform (post-acquisition) has >19,000 committed customers (5,000 connected), ~20,000 likely near-term connections and ~100,000 long-term potential customers in high-growth Austin–San Antonio corridor, improving long‑term growth visibility.

California Water Service (CWT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CWT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2026	2026 (Q1)	0.23 / -	0.22	―	―	―
Feb 25, 2026	2025 (Q4)	0.36 / 0.19	0.33	-42.42% (-0.14)
Oct 30, 2025	2025 (Q3)	0.95 / 1.03	1.03	0.00% (0.00)
Jul 31, 2025	2025 (Q2)	0.56 / 0.71	0.7	1.43% (+0.01)
May 01, 2025	2025 (Q1)	0.15 / 0.22	1.21	-81.82% (-0.99)
Feb 27, 2025	2024 (Q4)	0.24 / 0.33	0.52	-36.54% (-0.19)
Oct 31, 2024	2024 (Q3)	1.05 / 1.03	0.6	71.67% (+0.43)
Aug 01, 2024	2024 (Q2)	0.53 / 0.70	0.17	311.76% (+0.53)
Apr 25, 2024	2024 (Q1)	0.13 / 1.21	-0.4	402.50% (+1.61)
Feb 29, 2024	2023 (Q4)	1.53 / 0.52	0.35	48.57% (+0.17)

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

CWT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 25, 2026	$46.64	$44.59	-4.40%
Oct 30, 2025	$46.79	$44.56	-4.76%
Jul 31, 2025	$43.98	$44.55	+1.29%
May 01, 2025	$49.32	$48.90	-0.85%

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.

FAQ

When does California Water Service Group (CWT) report earnings?

California Water Service Group (CWT) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).

What is California Water Service Group (CWT) earnings time?

California Water Service Group (CWT) earnings time is at Apr 23, 2026, Before Open (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 2026 (Q1) is 0.23.