secwatch.observer — SEC 8-K summary
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Issuer:     CALIFORNIA WATER SERVICE GROUP (CWT)
CIK:        0001035201
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001104659-23-050822
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/0001104659-23-050822-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035201/000110465923050822/tm2313861d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-050822

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