California Water Service Q2 Revenue Beats by $30M on Retroactive Rate Hikes
CWT sits 25% above its 52-week low of $41.29.
Summary
California Water Service reported Q2 revenue of $308.6M, beating consensus by nearly $30M, driven by retroactive rate increases from the 2024 California General Rate Case. EPS came in at $0.93, with net income of $56.5M. The company expects rate adjustments to add $90.5M in revenue in 2026 and $43.2M in 2027, and plans up to $627M in infrastructure investment this year. This follows the July 1 acquisition of Palm Mutual Water Company, expanding its customer base. The strong results and clear regulatory visibility support the stock's recent run near its 52-week high.
At the time of this announcement, CWT was trading at $51.73 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $41.29 to $53.13. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.