Quarterly ResultJul 29, 2026, 08:47 PM
California Water Service Q2 Net Income $56.5M, EPS $0.93
AI Summary
California Water Service Group reported strong second-quarter 2026 results, with net income rising to $56.5 million, or $0.93 per diluted share, compared to $42.2 million, or $0.71 per diluted share, in Q2 2025. This performance reflects the final decision on the 2024 California General Rate Case (CA GRC), which was recognized retroactively to January 1, 2026, and is expected to increase company-wide revenue by $90.5 million in 2026. The company also achieved record infrastructure investments of $147 million in the quarter and made significant progress on its acquisition of Nexus Water Group's systems in Nevada and Oregon, while declaring its 326th consecutive quarterly dividend.
Key Highlights
- Q2 2026 net income was $56.5 million ($0.93 diluted EPS) vs. $42.2 million ($0.71 diluted EPS) in Q2 2025.
- Q2 2026 revenue was $308.6 million vs. $265.0 million in Q2 2025.
- YTD 2026 net income was $60.5 million ($1.01 diluted EPS) vs. $55.5 million ($0.93 diluted EPS) in YTD 2025.
- YTD 2026 revenue was $523.2 million vs. $468.9 million in YTD 2025.
- 2024 CA GRC decision authorizes rate adjustments to increase company-wide revenue by $90.5 million (10.9%) in 2026.
- Company invested a record $147 million in infrastructure in Q2 2026, and $276.4 million YTD.
- Progress made on the acquisition of Nexus Water Group's systems in Nevada and Oregon for approximately $218 million.
- Declared 326th consecutive quarterly dividend of $0.3350 per common share.
Price Impact
More from CWT