Earnings summaries and quarterly performance for CALIFORNIA WATER SERVICE.
Executive leadership at CALIFORNIA WATER SERVICE.
Martin Kropelnicki
Detailed
Chief Executive Officer
CEO
JL
James Lynch
Detailed
Senior Vice President, Chief Financial Officer & Treasurer
ML
Michael Luu
Detailed
Senior Vice President, Corporate Services & Chief Risk Officer
MM
Michelle Mortensen
Detailed
Vice President, Corporate Secretary & Chief of Staff
SD
Shannon Dean
Detailed
Senior Vice President, Customer Service & Chief Sustainability Officer
SB
Shawn Bunting
Detailed
Senior Vice President, General Counsel & Business Development
Board of directors at CALIFORNIA WATER SERVICE.
CP
Carol Pottenger
Detailed
Director
CP
Charles Patton
Detailed
Director
GA
Gregory Aliff
Detailed
Director
JK
Jeffrey Kightlinger
Detailed
Director
LS
Lester Snow
Detailed
Director
PW
Patricia Wagner
Detailed
Director
SM
Scott Morris
Detailed
Lead Independent Director
SE
Shelly Esque
Detailed
Director
TK
Thomas Krummel
Detailed
Director
YM
Yvonne Maldonado
Detailed
Director
Research analysts who have asked questions during CALIFORNIA WATER SERVICE earnings calls.
Davis Sunderland
Baird
9 questions for CWT
Also covers: BE, DAR, HASI +4 more
JR
Jonathan Reeder
Wells Fargo Securities
8 questions for CWT
Also covers: AWK, AWR, HE +4 more
Michael Gaugler
Janney Montgomery Scott LLC
5 questions for CWT
Also covers: CPK, RGCO, SJW +1 more
AS
Agnieszka Storozynski
BofA Securities
1 question for CWT
Also covers: AES, AGR, AWK +11 more
Recent press releases and 8-K filings for CWT.
California Water Service Reports Q4 and Full-Year 2025 Results, Announces Acquisitions and Dividend Increase
CWT
Earnings
M&A
Dividends
- California Water Service reported Q4 2025 revenue of $220 million and diluted EPS of $0.19, with results negatively impacted by severe weather in December. For the full year 2025, operating revenue was $1 billion and diluted EPS was $2.15, which was essentially flat compared to non-GAAP 2024 results.
- The company announced two strategic acquisitions: an agreement to purchase the Nevada and Oregon operations from Nexus Water, which expands its geographic footprint and is expected to be accretive within the first year , and the acquisition of the remaining minority interest in the Texas joint venture, BVRT Holdings, making it the sole owner of seven Texas water and wastewater utilities.
- CWT made record capital investments of $517 million in 2025 for infrastructure systems, representing a 19.8% increase over 2024. The company also increased its annual dividend by 10.7% in 2025 and an additional 8% in 2026, marking its 59th consecutive increase.
1 day ago
California Water Service Reports Q4 2025 Results, Announces Acquisitions and Dividend Increase
CWT
Earnings
M&A
Dividends
- California Water Service reported Q4 2025 operating revenue of $220.0 million, net income of $11.5 million, and diluted EPS of $0.19, with results negatively impacted by wet weather. The company announced an indicative 2026 annual dividend of $1.34 per share, representing an 8.1% increase and its 59th consecutive increase.
- The company executed agreements to acquire Nexus Water Group's Nevada and Oregon operations, adding approximately 36,000 equivalent residential connections and an estimated $109 million to the consolidated year-end 2025 rate base. It also agreed to become the sole owner of BVRT Utility Holdings in Texas. CWT invested a record $517.0 million in water system infrastructure for full-year 2025 , with the rate base estimated to reach over $3.3 billion by 2027.
- A proposed decision for the 2024 California General Rate Case is expected by the end of Q1 2026 , and the company received approval to increase 2026 interim rates by 3% in California.
1 day ago
California Water Service Group announces Q4 2025 results, strategic acquisitions, and dividend increase
CWT
M&A
Dividends
New Projects/Investments
- California Water Service Group announced two significant acquisitions: the Nevada and Oregon operations from Nexus Water, and the outstanding minority interest in the Texas joint venture, BVRT Holdings, which is expected to be accretive within the first year.
- The company invested a record $517 million in infrastructure in 2025 and increased its annual dividend by 10.7% in 2025 and an additional 8% in 2026, marking its 59th consecutive annual increase.
- CWT secured an extension for its cost of capital in California, retaining a 10.27% ROE until January 2028, and implemented a 3% interim rate increase in California in January 2026. A decision for the 2024 California General Rate Case is anticipated by April 9th, 2026.
- The company plans to spend between $50 million-$70 million on PFAS programs in 2026, incremental to other capital expenditures, as part of an anticipated $235 million total spend over the next few years.
1 day ago
California Water Service Group Reports Q4 2025 Results, Announces Acquisitions, and Provides Regulatory Updates
CWT
Earnings
M&A
New Projects/Investments
- California Water Service Group announced strategic acquisitions of Nexus Water's Nevada and Oregon operations and the outstanding minority interest in BVRT Holdings in Texas, aiming to expand its geographical footprint and regulatory diversification.
- For Q4 2025, the company reported revenue of $220 million and net income of $11.5 million ($0.19 per diluted share), with results negatively impacted by severe weather. Full-year 2025 operating revenue was $1 billion and net income was $128.2 million ($2.15 per diluted share).
- The company made record capital investments of $517 million in 2025, a 19.8% increase over 2024, and increased its annual dividend by 10.7% in 2025 and an additional 8% in 2026. A decision for the 2024 California General Rate Case is expected soon, and an interim rate increase of 3% was implemented in January.
1 day ago
California Water Service Group Announces Acquisition and Reports Q4 and Full Year 2025 Results
CWT
M&A
Earnings
Dividends
- California Water Service Group (CWT) announced an agreement to acquire Nexus Water Group’s Nevada and Oregon water and wastewater systems for approximately $218 million, adding 36,000 equivalent residential connections and an estimated $109 million to the consolidated rate base by December 31, 2025. The transaction is expected to close by the end of 2026.
- For Q4 2025, net income decreased 42% to $11.5 million, or $0.19 per diluted share, on revenue of $220.0 million, a decrease of less than 1.0% compared to Q4 2024.
- For the full year 2025, net income decreased 32.8% to $128.2 million, or $2.15 per diluted share, and operating revenue decreased 3.5% to $1.0 billion compared to full year 2024.
- The company invested a record $517.0 million in water system infrastructure in 2025, a 9.8% increase over 2024.
- CWT increased its annual dividend for the 58th consecutive year to $1.24 per common share for 2025, including a onetime special dividend of $0.04, and announced an indicative annual dividend of $1.34 per share for 2026.
2 days ago
California Water Service Group to Acquire Nexus Water Group's Nevada and Oregon Systems
CWT
M&A
New Projects/Investments
- California Water Service Group (CWT) has reached an agreement to acquire Nexus Water Group’s Nevada and Oregon water and wastewater systems.
- The acquisition will add approximately 36,000 equivalent residential connections and a combined rate base of approximately $109 million at December 31, 2025.
- The purchase price is approximately $218 million, which will be funded with working capital and existing debt and equity facilities.
- The transaction is expected to close by the end of 2026, subject to customary closing conditions including public utility commission approvals, and is anticipated to be accretive to existing operations within a year of closing.
- This move expands CWT's footprint and solidifies its position as the largest regulated water utility in the western United States.
2 days ago
California Water Service Group Reports Q4 and Full Year 2025 Results
CWT
Earnings
Dividends
New Projects/Investments
- California Water Service Group reported Q4 2025 net income of $11.5 million and diluted EPS of $0.19, with revenue at $220.0 million.
- For the full year 2025, GAAP net income was $128.2 million and diluted EPS was $2.15, with operating revenue of $1.0 billion. On a non-GAAP basis, full year 2025 net income increased $1.4 million and revenue increased 5.4% to $1.0 billion compared to non-GAAP 2024 results.
- The company invested a record $517.0 million in water system infrastructure in 2025, a 9.8% increase over 2024.
- The annual dividend was increased by 10.71% to $1.24 per common share, marking the 58th consecutive annual dividend increase.
- The company anticipates a Proposed Decision on its 2024 California General Rate Case in a matter of days or weeks, with a potential final decision by April 9.
2 days ago
California Water Service Group to Acquire Remaining BVRT Interests and Expand Texas Operations
CWT
M&A
New Projects/Investments
- California Water Service Group (CWT) has entered into an agreement to purchase the remaining membership interests of BVRT Utility Holding Company LLC (BVRT), aiming to become the sole owner of its seven subsidiary water and wastewater utilities in the Austin-San Antonio corridor.
- The completion of this acquisition is subject to Public Utilities Commission of Texas (PUCT) and Group Board approval.
- Separately, BVRT subsidiary Camino Real Utility Company LLC has been granted a water certificate of convenience and necessity by the PUCT for nearly 230 acres and has signed an agreement to extend wastewater service to the 253-acre Oatman Hill development, which is expected to include up to 5,000 equivalent dwelling units by 2036.
Jan 8, 2026, 11:30 PM
Cal Water Receives Interim Rate Adjustment Approval
CWT
New Projects/Investments
- California Water Service (Cal Water) has been authorized to implement interim rate adjustments, effective Jan. 1, 2026.
- These adjustments include a 3% temporary rate increase in most districts.
- The approval allows Cal Water to continue making infrastructure investments while the California Public Utilities Commission (CPUC) reviews its 2024 General Rate Case (GRC) and Infrastructure Improvement Plan.
- Interim rates are subject to refund or adjustments depending on the final approved rates.
Dec 29, 2025, 11:00 PM
California Water Service Group Reports Q3 2025 Financial Results and Regulatory Updates
CWT
Earnings
Dividends
New Projects/Investments
- California Water Service Group reported Q3 2025 revenue of $311.2 million, a 3.9% increase from Q3 2024, and net income of $61.2 million, resulting in $1.03 per diluted share, consistent with the prior year.
- Year-to-date 2025 operating revenue was $780.2 million, but on a non-GAAP basis (removing 2023 interim rate relief from 2024), year-to-date revenue increased $53.1 million, or 7.3%, over non-GAAP 2024 revenue. Year-to-date net income attributable to the Group was $116.7 million, or $1.96 per diluted share.
- The company declared its 323rd consecutive quarterly dividend of $0.30 per share and announced its 58th annual dividend increase for 2025, representing a 10.71% increase.
- The company made $365 million in water infrastructure investments year-to-date 2025 , and received nearly $35 million in PFAS settlement proceeds. Regulatory progress includes an authorized interim rate increase effective January 1, 2026, for the California 2024 GRC , and a $4.7 million revenue increase in Hawaii effective October 9, 2025. The BVRT utility in Texas added 1,100 new connections year-to-date.
Oct 30, 2025, 3:00 PM
Quarterly earnings call transcripts for CALIFORNIA WATER SERVICE.
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