Welcome to our dedicated page for California Water Service news (Ticker: $CWT), a resource for investors and traders seeking the latest updates and insights on California Water Service stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect California Water Service's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of California Water Service's position in the market.
Rhea-AI Summary
California Water Service Group reported strong financial results for the first quarter of 2024, driven by the California 2021 General Rate Case decision. The company achieved diluted earnings per share of $1.21, compared to a loss of $0.40 in Q1 2023. The 2021 GRC decision authorized beneficial regulatory mechanisms, increased revenues, and infrastructure improvement projects worth $1.2 billion. Operating revenue surged to $270.7 million, with net income reaching $69.9 million. The company also secured $83 million to relieve customers' past-due balances and committed to reducing greenhouse gas emissions by 63% by 2035. Quarterly earnings teleconference details are provided for interested investors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.18%
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Rhea-AI Summary
California Water Service Group's Board of Directors declared the company's 317th consecutive quarterly dividend of $0.28 per share, marking the 57th consecutive annual dividend increase. The dividend will be payable on May 17, 2024, to stockholders of record as of May 6, 2024. California Water Service Group operates regulated utilities in several states, serving over 2.1 million customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.18%
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Rhea-AI Summary
California Water Service Group reaffirms its commitment to investing $215 million in PFAS treatment despite CPUC's dismissal of request to track capital costs in a memorandum account. The company is focused on protecting customers' health and safety by complying with new federal water quality standards.
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Rhea-AI Sentiment
End-of-Day
1.98%
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Rhea-AI Summary
California Water Service (Cal Water) confirms its water systems will meet the new state maximum contaminant level (MCL) of 10 parts per billion for chromium-6. Cal Water has already treated impacted water systems in Dixon, Oak Hills, Las Lomas, and Willows. The company plans to install treatment at additional wells to comply with the new standard. Cal Water's commitment to customer health and safety is evident through its proactive measures and environmental stewardship efforts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.65%
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Rhea-AI Summary
California Water Service Group (CWT) confirms readiness to comply with new EPA PFAS regulations, setting MCLs and Hazard Index for various PFAS compounds. The company's utilities are well-prepared to treat impacted water sources and meet compliance deadlines.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.21%
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Rhea-AI Summary
California Water Service (CWT) receives over $83.0 million through California Extended Water and Wastewater Arrearage Payment Program to assist customers with past-due balances from COVID-19.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.47%
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Rhea-AI Summary
California Water Service Group (CWT) announces the release of its 2024 first quarter earnings results, with an earnings conference call scheduled for April 25, 2024. Stockholders and investors can join the call to hear from top executives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.46%
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Rhea-AI Summary
California Water Service Group (CWT) secures a spot on Newsweek's 2024 list of 'America's Most Trustworthy Companies' for the second year, ranking second among water utilities nationwide. The company's dedication to core values like integrity and commitment has led to this recognition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.11%
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News
Rhea-AI Summary
California Water Service Group (CWT) commits to reducing greenhouse gas emissions by 63% by 2035 from a 2021 base year, supporting global climate goals. The company plans to achieve this through renewable energy, fleet electrification, water conservation, and more.
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Rhea-AI Sentiment
End-of-Day
0.33%
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Rhea-AI Summary
The California Public Utilities Commission (CPUC) issued a decision on the 2021 General Rate Case and Infrastructure Improvement Plan for California Water Service Group (NYSE: CWT), approving increased revenues for 2023, 2024, and 2025. The decision allows Cal Water to invest $1.21 billion in water system infrastructure projects from 2021 to 2024, focusing on safety and reliability. The decision also implements a progressive rate design to benefit low-income and low-water-using customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.39%
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California Water Service
NYSE:CWT
CWT Rankings
CWT Stock Data
2.96B
57.11M
0.86%
90.13%
2.07%
Water Supply and Irrigation Systems
Utilities
United States of America
SAN JOSE
About CWT
california water service company (cal water) is the largest subsidiary of the california water service group. cal water is the largest investor-owned american water utility west of the mississippi river and the third largest in the country. formed in 1926, the san jose-based company serves more than 472,000 customers through 28 customer and operations centers throughout the state.