California Wtr Svc Group Stock Price, News & Analysis

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.

California Water Service Group (NYSE: CWT) reported a significant increase in net income to $38.2 million or $0.75 per diluted share for Q2 2021, up from $5.3 million or $0.11 per diluted share in Q2 2020. This rise is attributed to the California Public Utilities Commission's decision on the 2018 General Rate Case, which authorized rate hikes totaling $7.9 million in cumulative rate relief. Operating revenue grew 21.4% to $213.1 million, driven by regulatory rate increases. However, administrative expenses also rose by $4.8 million.

California Water Service Group (CWT) has declared its 306^th consecutive quarterly dividend of $0.23 per common share, payable on August 20, 2021, to stockholders of record by August 9, 2021. The company operates regulated utilities across five states, serving over 2 million people. As a holding company for water and wastewater services, CWT continues to demonstrate financial stability through consistent dividend payments, reflecting its commitment to rewarding shareholders.

California Water Service (CWT) has affirmed its readiness to tackle the drought emergency following an expanded declaration by Governor Gavin Newsom. The company aims to assist customers in conserving water by offering several initiatives, including doubled rebates on high-efficiency appliances, a smart landscape tune-up program, and complimentary conservation kits. CWT will also reintroduce its turf replacement program and introduce a drip system conversion rebate this summer. The utility serves approximately 2 million residents, having been operational since 1926.

California Water Service Group (NYSE: CWT) will announce its second quarter 2021 earnings results on July 29, 2021, at 9:00 a.m. ET. A teleconference will follow at 11:00 a.m. ET, allowing investors and stockholders to participate. To join the call, dial in 15 minutes early and use ID# 3119418. A replay will be available from 2:00 p.m. ET on the same day until September 29, 2021. The company provides regulated and non-regulated water services to over 2 million people across five states.