California Wtr Svc Group Stock Price, News & Analysis

California Water Service Group (NYSE: CWT) announced that S&P Global has maintained an A+/Stable credit rating for its largest subsidiary, California Water Service (Cal Water). The rating reflects Cal Water's excellent business risk profile and intermediate financial risk profile.

CEO Martin A. Kropelnicki highlighted that this rating validates the company's strong balance sheet, fiscal discipline, and credit metrics, which enable continued infrastructure investments benefiting both stockholders and customers.

California Water Service (NYSE: CWT) has signed an agreement with DMB Development to own and operate the wastewater and recycled water systems of Silverwood, a new master-planned community in San Bernardino County, California.

Initially, Cal Water will serve 500 wastewater connections currently managed by the City of Hesperia. At full buildout, the development is expected to reach over 15,000 customer connections. The company will acquire ownership of the wastewater collection and recycled water distribution systems in phases as they are completed.

The new Silverwood system will become a new Cal Water district under California Public Utilities Commission oversight.

Washington Water Service, a subsidiary of California Water Service Group (NYSE: CWT), has received approval from the Washington Utilities and Transportation Commission to increase annual revenue by $178,000 for its Stroh's water system. The rate increase will be implemented in two phases to minimize customer impact, with half effective immediately and the remainder in Q2 2026. The revenue adjustment follows infrastructure upgrades made since acquiring the Stroh's system in late 2022. Key improvements include replacing well pump equipment, installing a water quality sampling station, enhancing water storage tank safety, and upgrading wellhead meters. The new rates became effective May 23, 2025.

California Water Service (NYSE: CWT) has announced agreements to acquire two water utility systems in Bakersfield: Casa Loma Water Company and Palm Mutual Water Company. Casa Loma serves approximately 900 people through 237 residential and 11 commercial connections, while Palm Mutual serves 63 residential customers. Both systems are strategically located near Cal Water's existing operations, with Casa Loma being three miles from their Bakersfield Operations Center and Palm Mutual two miles from their Northeast Bakersfield Treatment Plant.

Cal Water already has interconnections with both systems and plans infrastructure upgrades to improve service quality. The acquisitions require California Public Utilities Commission approval, and Cal Water intends to implement its existing rate structure for the new customers through a Tier 2 Advice Letter.

California Water Service (CWT) has expanded its educational outreach through its Aqua Adventures program, providing hands-on water conservation field trips to over 400 students from 4th to 6th grade across California. The program, part of Cal Water's "Tap Into Learning" conservation education initiative in partnership with DoGoodery, took students from 12 different schools to explore locations including Scout Island, Cabrillo Marine Aquarium, and California Academy of Sciences. The field trips aim to teach students about water's role in ecosystems and the importance of resource conservation. In its 11th year, the program includes additional educational initiatives such as $250 Water Smart Grants for teachers, a Splash of Creativity art competition, and an H2Oath pledge program.

California Water Service Group (NYSE: CWT) has released its 2024 Sustainability Report, highlighting significant progress in environmental stewardship and corporate responsibility. The company achieved a 23.5% reduction in Scope 1 and 2 greenhouse gas emissions from 2021 baseline and invested $3 million in emissions-reducing solutions. Key achievements include conducting 615,000+ water quality tests with 100% compliance with federal and state standards, donating $1.1 million to community organizations, and investing $815,000 in employee training. The company received a B- rating on both CDP Climate and Water Questionnaires. The report, aligned with SASB, TCFD, and GRI standards, demonstrates progress across four focus areas: protecting the planet, serving customers, engaging the workforce, and governing with integrity.

Hawaii Water Service, a subsidiary of California Water Service Group (NYSE: CWT), has received HPUC approval for a $276,900 annual revenue increase in its Ka'anapali system. The rate adjustment, effective April 18, 2025, reflects the first base rate change since 2016. The increase supports recent infrastructure investments including:

• Upgrades to two storage tanks and reservoirs
• Installation of two additional generators for power outage protection
• Routine pumping equipment replacement

The HPUC also approved a new tiered rate structure designed to promote water conservation and maintain affordability for low-usage customers.

California Water Service Group (NYSE: CWT) reported Q1 2025 financial results with net income of $13.3 million ($0.22 per diluted share), showing a decrease from Q1 2024 but an increase of $9.2 million compared to Q1 2024 non-GAAP figures. Operating revenue was $204.0 million, down $66.7 million year-over-year but up $23.5 million on a non-GAAP basis. The company continues to progress with its 2024 California General Rate Case, proposing to invest over $1.6 billion from 2025-2027. CWT declared its 321st consecutive quarterly dividend of $0.30 per share, maintaining its 58-year streak of dividend increases. The company's capital investments during Q1 2025 reached $110.1 million, and it maintains a strong liquidity position with $90.1 million in cash and additional short-term borrowing capacity of $315 million.

California Water Service Group (NYSE: CWT) continues its strong dividend history with the announcement of its 321st consecutive quarterly dividend. The Board of Directors has declared a dividend of $0.30 per common share, maintaining the company's commitment to shareholder returns.

The dividend will be paid on May 23, 2025, to stockholders of record as of the close of business on May 12, 2025. This announcement, made at the Board meeting on April 30, 2025, demonstrates the company's consistent dividend payment track record.