California Wtr Svc Group Stock Price, News & Analysis

California Water Service Group (CWT) will release its third quarter 2021 earnings on October 28, 2021, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET. Investors can join the call by dialing 1-833-832-5130 or by accessing the live audio webcast. The call will feature key executives, including President and CEO Martin Kropelnicki. A replay will be available after the call. CWT provides water services to over 2 million customers across multiple states, including California, Hawaii, New Mexico, Texas, and Washington.

California Water Service Group (CWT) has been recognized as a Great Place to Work for six consecutive years by the Great Place to Work® Institute. This accolade follows the company's recent honors, including being named a Top Workplace in the Bay Area and receiving the Most Valuable Corporate COVID-19 Response award. The certification process involves a Culture Audit and a Trust Index based on employee feedback. President and CEO Martin A. Kropelnicki highlighted the company's commitment to flexibility during the pandemic while providing reliable water service to over two million customers.

California Water Service (CWT) has launched its 2021 Firefighter Grant Program, increasing the funds available to local fire departments to $175,000, an 18% increase from 2020. Grants assist fire departments with costs related to fire protection, equipment, and training. Since the program's inception in 2019, CWT has allocated over $300,000 to 17 departments, with average grants around $16,000. The application deadline is October 29, 2021. This initiative is part of CWT's philanthropic efforts and will not impact customer rates.

California Water Service Group (CWT) has launched a new employee charitable donation matching program to bolster support for local communities and non-profits. Under this initiative, the company will match employee donations up to $250 annually until the budget is exhausted. This effort aligns with the company's ongoing commitment to enhance community quality of life. President and CEO Martin A. Kropelnicki highlighted the program as a way to honor employees' generosity, particularly in response to challenges such as the pandemic and natural disasters.

California Water Service (CWT) has commenced providing recycled water to Tesoro Viejo Master Mutual Water Company, marking a significant step in sustainability efforts. Initially supplying 40,000 gallons per day, the volume is expected to increase as community development continues. This initiative supports local landscaping and agricultural irrigation, ensuring reliable water supplies in light of California's frequent droughts. CWT oversees the water systems for Tesoro Viejo, which includes a master-planned community aiming for sustainable living with various housing options.

California Water Service (CWT) has launched two new water conservation programs: lawn-to-garden and spray-to-drip rebates, aimed at helping customers save water amid ongoing drought conditions. Customers can receive $3 per square foot for removing lawns, requiring at least 50% conversion to drought-tolerant landscaping. The drip irrigation program offers $0.50 per square foot for converting from standard spray systems, promoting water efficiency. Both incentives are available to residential and commercial clients. Additional conservation initiatives include rebates on high-efficiency appliances and educational resources.

California Water Service (CWT) announced its commitment to addressing health risks posed by 'forever chemicals' in drinking water. The company supports the California Office of Environmental Health Hazard Assessment's proposal to set public health goals for PFOA and PFOS at one part per trillion. This is significantly stricter than the current federal recommendation. Cal Water has been proactive in water safety, having already implemented advanced technology to treat chromium-6. The company serves approximately 2 million people and is dedicated to protecting customers from water contaminants.

California Water Service, the largest subsidiary of California Water Service Group (CWT), has received approval from the California Public Utilities Commission to acquire the water and wastewater systems for the new Preserve at Millerton community. This master-planned community in Madera County will feature 1,400 residential units, commercial spaces, and parks. The acquisition is set to finalize when the residences are ready for occupancy in 2022, pending certain conditions. Group President Martin A. Kropelnicki expressed optimism about serving the community and supporting its growth.