earnings
confidence high
sentiment positive
materiality 0.80
California Water Service Q3 EPS $1.03 vs $0.60 YoY; revenue $299.6M up 17.5%
CALIFORNIA WATER SERVICE GROUP
2024-Q3 EPS reported
$2.93
revenue$687,803,000
- Net income $60.7M vs $34.4M; record $332.2M capex through nine months, up 21%.
- CA regulatory: CPUC approved $94.2M cash recovery via advice letters; ROE stays at 10.27% for 2025.
- 2024 CA GRC filed proposing $1.6B infra plan (2025-27) with rate adjustments totaling ~$298M over three years.
- Cal Water issued $125M 5.22% First Mortgage Bonds due 2054; ATM program raised $34.5M in Q3.
- Dividend maintained at $0.28/share; 319th consecutive quarterly dividend declared.