---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-050822"
form_type: "8-K"
ticker: "CWT"
cik: "0001035201"
company_name: "CALIFORNIA WATER SERVICE GROUP"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T07:47:21.859018+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Net loss of $22.2M in Q1 2023 vs. income of $1.1M YoY; CPUC rate case delay cited

## Summary
- Net loss attributable to Group $22.2M ($0.40 loss per share) vs. net income $1.1M ($0.02 EPS) in Q1 2022.
- Operating revenue $131.1M, down 24.2% YoY; CPUC rate decision delay estimated to reduce Q1 revenue by $24-34M.
- Management plans 4% interim rate increase in May 2023; final GRC decision retroactive to Jan 1, 2023.
- Completed acquisition of Bethel Greenacres Association in WA; signed to buy Lake Section Water in NM.
- Invested $82M in infrastructure in Q1 2023; entered into new $600M credit facilities.

## SEC filing metadata
- accession: 0001104659-23-050822
- form_type: 8-K
- ticker: CWT
- cik: 0001035201
- company_name: CALIFORNIA WATER SERVICE GROUP
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/0001104659-23-050822-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/tm2313861d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-050822
- JSON: https://secwatch.observer/filing/0001104659-23-050822.json
- Plain text: https://secwatch.observer/filing/0001104659-23-050822.txt

## Key facts
- Earnings Releases
  CALIFORNIA WATER SERVICE GROUP reported first quarter of 2023, ended March 31, 2023 results: revenue $131.1 million.
  - Period: first quarter of 2023, ended March 31, 2023
  - Revenue: $131.1 million
  - Result: reported results
  source text: today announced a net loss attributable to Group of $22.2 million and diluted loss per share of $0.40 for the quarter ended March 31, 2023, as compared to net income attributable to Group of $1.1 million and diluted earnings per share of $0.02 for the quarter ended March 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/0001104659-23-050822-index.htm
- Earnings Releases
  CALIFORNIA WATER SERVICE GROUP reported first quarter of 2023, ended March 31, 2023 results: revenue $131.1 million.
  - Period: first quarter of 2023, ended March 31, 2023
  - Revenue: $131.1 million
  - Result: reported results
  source text: Operating revenue was $131.1 million for the quarter ended March 31, 2023, compared to $173.0 million for the same period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/0001104659-23-050822-index.htm
- Earnings Releases
  CALIFORNIA WATER SERVICE GROUP reported first quarter of 2022, ended March 31, 2022 results: revenue $173.0 million, net income net income attributable to Group of $1.1 million, EPS diluted earnings per share of $0.02.
  - Period: first quarter of 2022, ended March 31, 2022
  - Revenue: $173.0 million
  - Net income: net income attributable to Group of $1.1 million
  - EPS: diluted earnings per share of $0.02
  - Result: reported results
  source text: cumulative adjustment will be recorded in the quarter in which final approval is received. Operating revenue was $131.1 million for the quarter ended March 31, 2023, compared to $173.0 million for the same period in 2022. The $41.9 million, or 24.2%, revenue decrease was primarily attributable to an $18.8 million increase in revenue deferral, a $12.1 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/0001104659-23-050822-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.