Quarterly ResultApr 30, 2026, 06:17 AM
CWT Q1 Net Income $4.0M; Revenue $214.6M; GRC Update & Acquisition
AI Summary
California Water Service Group reported Q1 2026 net income of $4.0 million ($0.07 per diluted share), a decrease from $13.3 million ($0.22 per diluted share) in Q1 2025, while revenue increased to $214.6 million from $204.0 million. The company received a revised proposed decision for its 2024 California General Rate Case, authorizing significant rate increases for 2026-2028, with a final decision expected shortly. Additionally, CWT announced an agreement to acquire Nexus Water Group's Nevada and Oregon systems for approximately $218 million and declared its 59th annual dividend increase.
Key Highlights
- CWT Q1 2026 net income was $4.0 million ($0.07 per diluted share), down from $13.3 million ($0.22 per diluted share) in Q1 2025.
- Q1 2026 revenue increased to $214.6 million from $204.0 million in Q1 2025.
- Revised 2024 CA GRC PD authorizes rate increases of $90.5M (2026), $43.2M (2027), and $48.9M (2028).
- Company invested $129.4 million in infrastructure in Q1 2026, up from $110.1 million in Q1 2025.
- Agreed to acquire Nexus Water Group's Nevada and Oregon systems for approximately $218 million.
- Declared a quarterly dividend of $0.3350 per common share, marking the 59th annual increase.
- Anticipates investing up to $627 million in infrastructure in 2026.
Price Impact
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