earnings
confidence high
sentiment positive
materiality 0.80
California Water Service Q2 EPS $0.70 vs $0.17 YoY; files $1.6B GRC plan
CALIFORNIA WATER SERVICE GROUP
2024-Q2 EPS reported
$1.90
revenue$381,566,000
- Diluted EPS $0.70 (Q2 2024) vs $0.17 (Q2 2023); net income $40.6M vs $9.6M. Revenue $244.3M vs $194.0M.
- Six-month net income $110.5M ($1.90 diluted EPS) vs net loss $12.7M (-$0.23) YoY; revenue $515.0M vs $325.1M.
- Capital investments $214.4M in H1 2024 (56% of $385M target); $0.28 dividend declared (318th consecutive quarter).
- Filed 2024 California GRC with CPUC proposing $1.6B infrastructure investment over 2025-2027 and rate increases totaling $140.6M in 2026.
- S&P affirmed A+ Stable credit rating for California Water Service Co.