California Water Service Group (CWT)
NYSE:CWT
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.76Last Year’s EPS
0.71Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly constructive outlook: management received a favorable revised proposed decision on the California GRC providing multi-year revenue visibility, increased capital investment plans, strong liquidity and credit ratings, progress on strategic M&A to diversify geography and services, meaningful PFAS legal recoveries, and an ongoing dividend increase. Offsetting these positives are a pronounced drop in quarterly net income and EPS driven by reduced tax credits and higher depreciation/interest, consumption variability, implementation complexity from the delayed rate case, and regulatory uncertainty (PFAS and potential microplastics rules) that could require additional capital. On balance the positive regulatory outcome, strong balance sheet, capital investment momentum, and M&A progress outweigh the near-term earnings challenges and execution risks.Company Guidance
Constructive Revised Proposed Decision on 2024 California GRC
Revised proposed decision provides clear visibility into revenue growth (approximately $91M in 2026, $43M in 2027, and $49M in 2028), preserves key regulatory mechanisms (Monterey-style RAM), authorizes multiple cost balancing accounts (pension, health care, new general insurance liability), introduces a sales reconciliation mechanism and updated rate design to better support fixed cost recovery — management describes the PD as constructive and supportive of infrastructure investment and earnings stability.
Quarterly Revenue Growth
Q1 2026 revenue of $214.6M versus $204.0M in Q1 2025, an increase of about 5.2%; primary earnings drivers included rate increases (added ~$0.11 per diluted share) and accrued/unbilled revenue (added ~$0.06 per diluted share) related to warm, dry weather at quarter end.
Increased Capital Investment
Capital investments in Q1 rose 17.6% to $129.5M; total planned 2026 capital investments of $627M (reflecting amounts in the revised proposed 2024 GRC and estimated expenditures in other states); if approved, expected compounded annual rate base growth of over 11%.
Strong Liquidity and Credit Profile
As of 03/31/2026 the company held $58.1M unrestricted cash and $45.6M restricted cash, ~ $470M available on bank lines of credit; credit facilities total $600M expandable to $800M (maturities into March 2028); remaining ATM shelf of ~ $340M; S&P rating A+ (stable) maintained.
Dividend Strength and Track Record
Declared 325th consecutive quarterly dividend of $0.335 per share; 2026 annual dividend announced at $1.34 per share, an 8.1% increase over 2025 (59th consecutive annual increase).
M&A and Geographic / Service Diversification Progress
Progressing on Nexus acquisition (Nevada & Oregon) and BVRT/Texas change-of-control filing; Nexus deal could add almost 100,000 connections outside California (~20% of total connections) and expand wastewater operations to over 24 plants across the western U.S.; Nevada has a six-month statutory review timeline and management hopes to close transactions by year-end.
PFAS Legal Recoveries Offset Capital Needs
Company recovered approximately $66.5M gross (~$50M net) from polluter trust recoveries to date, including a recent $6.5M receipt; management estimates recoveries have covered roughly 20–25% of estimated PFAS costs, directly offsetting customer cost exposure and capital needs for PFAS remediation.
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
CWT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $45.38 | $42.24 | -6.92% |
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% |
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 Jul 30, 2026, Before Open (Confirmed).
What is California Water Service Group (CWT) earnings time?
California Water Service Group (CWT) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is CWT EPS forecast?
CWT EPS forecast for the fiscal quarter 2026 (Q2) is 0.76.