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California Water Service (CWT)
NYSE:CWT
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.2Last Year’s EPS
$0.52Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -9.83%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment with strong financial performance, significant capital investments, and notable regulatory approvals offsetting concerns about increased operating expenses and regulatory uncertainties.Company Guidance
During the California Water Service Group's Q3 2024 earnings call, the company reported a 17.5% increase in operating revenue, reaching $299.6 million, up from $255 million in Q3 2023. Net income rose to $60.7 million, or $1.03 per diluted share, compared to $34.4 million, or $0.60 per diluted share, in the previous year. The increase was primarily driven by a $42.2 million rise in customer rates and a $9.6 million boost in customer usage. Operating expenses grew to $232.8 million, mainly due to higher water production costs, depreciation, and income taxes. Year-to-date operating revenue reached $814.6 million, a $234.5 million increase from 2023, while net income was $171.1 million, or $2.93 per diluted share. The company reported capital investments of $332.2 million through September 2024, or 86% of its $385 million 2024 capital plan, with a projected rate base growth of 7.3% to $2.36 billion by year-end. The CPUC authorized the issuance of up to $1.3 billion in new debt and equity securities, with $34.5 million raised from common stock sales during the quarter. The board declared a $0.28 per share dividend for shareholders of record on November 11, 2024.Strong Financial Performance
Operating revenue for Q3 2024 increased 17.5% to $299.6 million compared to $255 million in Q3 2023. Net income rose to $60.7 million from $34.4 million in Q3 2023.
Significant Capital Investments
Company capital investments during the first nine months of 2024 totaled $332.2 million, which is 86% of the $385 million planned for 2024.
Regulatory Approvals and Revenue Collection
Approval to collect $94.2 million in regulatory balances through 2027. Expected to collect about $11.6 million from these balances in 2024.
Environmental and Corporate Recognition
Received the WaterSense Excellence Award and recognized as one of the world's most trustworthy companies by Newsweek. Named as a great place to work for the ninth consecutive year.
Strong Balance Sheet and Liquidity
Maintained a strong balance sheet with a capital structure of 61% equity and 39% debt. Cash and cash equivalents of $105.2 million.
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CWT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CWT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $51.01 | $51.68 | +1.31% |
| Aug 01, 2024 | $52.89 | $53.30 | +0.78% |
| Apr 25, 2024 | $45.82 | $47.27 | +3.16% |
| Feb 29, 2024 | $45.18 | $45.15 | -0.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does California Water Service (CWT) report earnings?
California Water Service (CWT) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is California Water Service (CWT) earnings time?
California Water Service (CWT) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CWT EPS forecast?
CWT EPS forecast for the fiscal quarter 2024 (Q4) is $0.2.
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