Quarterly ResultApr 30, 2026, 01:11 PM
CWT Q1 Net Income -70% to $4.0M; EPS $0.07; Revenue +5.2% to $214.6M
AI Summary
California Water Service Group reported a 5.2% increase in operating revenue to $214.6 million for Q1 2026. However, net income attributable to the company sharply declined by 69.7% to $4.0 million, resulting in basic earnings per share of $0.07, down 68.2% year-over-year. This decline was primarily driven by a substantial increase in operating expenses, particularly water production costs, and higher interest expenses. The company also generated $49.4 million in net cash from operating activities and continued its at-the-market equity program, selling 134,200 shares for $6.1 million.
Key Highlights
- Net income attributable to CWT decreased 69.7% to $4.0 million.
- Basic EPS fell 68.2% to $0.07.
- Operating revenue increased 5.2% to $214.6 million.
- Net operating income decreased 18.7% to $18.2 million.
- Water production costs rose 13.2% to $71.3 million.
- Net cash provided by operating activities increased 28.5% to $49.4 million.
- Sold 134,200 common shares for $6.1 million net proceeds via at-the-market program.
- Short-term borrowings increased to $230.0 million as of March 31, 2026.
Price Impact
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