CALIFORNIA WATER SERVICE GROUP

California Water Service Group announced that its second-quarter 2026 earnings results will be released on Thursday, July 30, 2026, at 9:00 a.m. ET. A conference call for stockholders and investors will follow at 11:00 a.m. ET on the same day. Details for accessing the call via phone or live audio webcast, as well as replay information, were provided.

California Water Service (Cal Water) has completed the acquisition of Palm Mutual Water Company, following an agreement in May 2025 and approval by the California Public Utilities Commission. The Palm Mutual system serves approximately 250 residents through 63 connections and will now be integrated into Cal Water's Bakersfield District. Cal Water plans to upgrade the system's infrastructure to enhance water quality and reliability for its new customers.

California Water Service (Cal Water) has achieved Platinum Certification with the G480 standard from the Alliance for Water Efficiency (AWE), marking the highest status a water utility can attain for water conservation and efficiency program operation. Cal Water is the first utility to earn this top-tier certification under the newly updated G480-25 standard. Chairman and CEO Marty Kropelnicki highlighted the company's century-long commitment to responsible planning, high-quality service, and natural resource stewardship.

California Water Service Group announced the promotions of Tamara S. Johnson to Vice President, California Operations, and Gregory D. Shimansky to Vice President, Rates and Regulatory Affairs, effective July 1, 2026. Johnson, with 40 years of experience, will lead the newly created California Operations role. Shimansky, who joined in 2024, succeeds the retiring Greg A. Milleman. These changes aim to support the company's growth and operational complexity.

California Water Service Group announced the promotions of Tamara S. Johnson to Vice President, California Operations, and Gregory D. Shimansky to Vice President, Rates and Regulatory Affairs, effective July 1, 2026. Johnson brings 40 years of experience to her newly created role, reflecting the company's growth. Shimansky, who joined in 2024, succeeds Greg A. Milleman, who is retiring after a decade with the company.

California Water Service Group published its 2025 Sustainability Report, detailing significant progress across its four key focus areas: protecting the planet, serving customers, engaging the workforce, and governing with integrity. The report aligns with SASB, TCFD, and GRI standards, highlighting achievements such as substantial investments in emissions reduction and conservation, 100% compliance with water quality standards, and extensive customer assistance programs. The company also noted its recognition as a Great Place to Work and one of the "World's Most Trustworthy Companies."

The California Public Utilities Commission (CPUC) issued a final decision on California Water Service's 2024 General Rate Case, authorizing significant revenue increases. The decision approves a $90.5 million increase in 2026, $43.2 million in 2027, and $48.9 million in 2028. Additionally, it authorizes $1.45 billion for infrastructure investments from 2024 through 2027, with up to $229 million for further projects. These measures aim to ensure reliable water service and provide financial stability, with new rates effective July 1, 2026.

California Water Service Group's subsidiary, Cal Water, received a final decision from the California Public Utilities Commission (CPUC) on its 2024 General Rate Case. The decision authorizes significant revenue increases of $90.5 million in 2026, $43.2 million in 2027, and $48.9 million in 2028. It also approves $1.45 billion for infrastructure investments through 2027 and establishes mechanisms for financial stability and fixed cost recovery. New rates are expected to be implemented on July 1, 2026.

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.

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.