Welcome to our dedicated page for California Wtr Svc Group news (Ticker: CWT), a resource for investors and traders seeking the latest updates and insights on California Wtr Svc Group stock.
California Water Service Group (CWT) delivers essential water services across multiple U.S. states through regulated utilities and specialized subsidiaries. This page provides investors and stakeholders with authoritative updates on operational milestones, financial performance, and strategic initiatives shaping the company's role in the water utility sector.
Access timely press releases covering earnings reports, infrastructure investments, and regulatory compliance developments. Our curated collection ensures you stay informed about CWT updates including acquisitions like Kings Mountain, PFAS mitigation efforts, and rate case resolutions critical to understanding the company's financial trajectory.
Discover analysis of CWT's operational strategies across California, Texas, and other key markets. Content emphasizes infrastructure modernization projects, customer growth trends, and environmental stewardship initiatives while maintaining strict compliance with financial disclosure standards.
Bookmark this page for continuous access to CWT's latest news. Monitor how regulatory frameworks and capital expenditure programs impact long-term service reliability and shareholder value in the water utility industry.
California Water Service Group (NYSE: CWT) has achieved a significant milestone by being named one of America's Most Trustworthy Companies by Newsweek for the third consecutive year. The company ranked first among water utilities nationwide in Newsweek's 2025 list.
The recognition is based on a comprehensive evaluation across three trust touchpoints: customer, employee, and investor feedback. The assessment involved an independent survey of 25,000 U.S. residents, generating 102,000 evaluations, complemented by a social listening analysis of 304,000 company mentions.
The prestigious list, compiled by Newsweek and Statista Inc., features the top 700 companies from approximately 3,400 largest U.S.-based public and private organizations with annual revenues exceeding $500 million, spanning 23 industries.
California Water Service Group (NYSE: CWT) has achieved a significant milestone by being named to the 2025 Top Workplaces USA list by USA Today and Energage. This marks the company's first national recognition, following their previous Top Workplace designation in the Bay Area.
The award, presented by workforce culture research company Energage, recognizes organizations with 150+ employees that demonstrate exceptional, people-first cultures. Among 42,000 invited organizations, CWT was selected based on employee feedback regarding Workplace Experience Themes.
The company serves over 2.1 million people daily, with Chairman and CEO Martin A. Kropelnicki emphasizing their commitment to employee well-being and development. Energage CEO Eric Rubino highlighted that this recognition, driven by employee feedback, serves as a badge of credibility and excellence in today's competitive market.
California Water Service Group (NYSE: CWT) has invested a record $471 million in capital improvements across its service areas in 2024, marking a 23% increase from 2023's investment. The company's Main Replacement Program represented $156 million of the total investment, installing nearly 36 miles of new pipe.
Key infrastructure improvements included:
- 124 storage and pressure tank upgrades
- 110 water treatment facility improvements
- 27 SCADA system upgrades
- 26 generator and motor control center installations
These investments aim to enhance water safety, reliability, and system resilience while maintaining affordable service at approximately one penny per gallon across service areas.
California Water Service Group (NYSE: CWT) has appointed Kris A. Hamner as Vice President, Chief Human Resource Officer, effective February 28, 2025. Hamner succeeds Ronald D. Webb, who is retiring after over 10 years with the company.
Hamner joins from HR Ro(X) Consulting, where he served as owner and principal consultant. His experience includes senior HR executive positions at STG Logistics, JSR , and FOXCONN. Previously at Hewlett Packard Enterprise, he led HR for the Enterprise Group, managing a portfolio with over 60,000 employees and $30 billion in revenue.
Hamner holds an MBA from Notre Dame and a BS in Human Resources Management from the University of Nevada. He serves as a Board Member of the National Human Resources Association and teaches at UC Santa Cruz's HR Certificate Program.
California Water Service Group (NYSE: CWT) reported strong financial results for Q4 and full year 2024. The company achieved operating revenue of $1.037 billion in 2024, up from $794.6 million in 2023, and diluted earnings per share of $3.25, compared to $0.91 in 2023.
Key highlights include a record capital investment of $471.0 million in water system infrastructure and authorization from CPUC to maintain the current 10.27% return on equity through December 2026. The company's 2024 General Rate Case proposes investing over $1.6 billion in infrastructure from 2025-2027, with proposed rate adjustments to increase revenue by 17.1% in 2026, 7.7% in 2027, and 8.1% in 2028.
Q4 2024 net income was $19.7 million ($0.33 per share), compared to $30.1 million ($0.52 per share) in Q4 2023. The company declared its 320th consecutive quarterly dividend of $0.30 per share, plus a special dividend of $0.04 per share.
California Water Service (Cal Water) has announced a new partnership with Walmart to enable customers to pay their water bills at Walmart Bill Pay service counters nationwide at no additional cost. The service is specifically designed for customers who prefer to pay their bills in person using cash or debit cards.
The new payment option will be available at any Walmart location offering bill payment services, featuring extended hours including nights and weekends. A key benefit is that bill payments are posted in near real-time, ensuring customers' accounts remain current. To use the service, customers need to visit Walmart's MoneyCenter or Customer Service Desk with their Cal Water account number.
California Water Service Group (NYSE: CWT) has announced its schedule for the release of 2024 full-year and fourth-quarter earnings results. The results will be released on Thursday, February 27, 2025, at 9:00 a.m. ET, followed by an earnings conference call at 11:00 a.m. ET.
Stockholders and investors can join the conference call by dialing 1-800-715-9871 or 1-646-307-1963 with ID# 5777452, or access the live audio webcast online. A replay will be available from 2:00 p.m. ET on February 27 through April 28, 2025. The call will be hosted by Chairman and CEO Martin A. Kropelnicki, CFO James P. Lynch, and VP of Rates and Regulatory Affairs Greg A. Milleman. A slide presentation will be available on Cal Water's website before the call.
California Water Service Group (NYSE: CWT) has announced its 320th consecutive quarterly dividend of $0.30 per common share, representing an $0.08 annual increase to yield $1.20 annually. Additionally, the Board declared a one-time special dividend of $0.04 per common share. Both dividends will be payable on February 21, 2025, to stockholders of record as of February 10, 2025.
This marks the company's 58th consecutive year of dividend increases. The special dividend was implemented to compensate for the moderated 2023 annual dividend due to delays in the 2021 General Rate Case. The company expects the 2025 anticipated annual dividend to align with market expectations.
California Water Service (NYSE: CWT) has received approval from the California Public Utilities Commission (CPUC) to postpone its Cost of Capital application from May 1, 2025, to May 1, 2026. The decision maintains Cal Water's current financial structure, including a 10.27% return on equity, 4.23% cost of debt, and a capital structure of 53.40% common equity and 46.60% long-term debt, with an authorized rate of return of 7.46%.
The CPUC also reauthorized the Water Cost of Capital Mechanism (WCCM), which automatically adjusts the rate of return based on Moody's Utilities Bond Index fluctuations. The next measurement date is set for September 30, 2025, with any potential changes effective January 1, 2026. The extension aims to manage workload across multiple ongoing water utility rate cases and reduce the frequency of customer rate changes.
California Water Service Group (NYSE: CWT) has launched its 11th annual College Scholarship Program, offering $80,000 in scholarships to customers and their dependents across California, Hawaii, New Mexico, and Washington. The program includes four $10,000 grand-prize scholarships and additional awards ranging from $2,500 to $5,000.
Eligible applicants must plan to enroll in full-time undergraduate studies at an accredited institution for the 2025-2026 academic year. Awards will be based on academic achievement, community service, and financial need. Applications are open until March 27, 2025, with winners announced by May's end.
The scholarship program, which has provided $755,000 to date, is funded through stockholder philanthropic giving and doesn't affect customer rates. It's administered by Scholarship America, a 501(c)(3) non-profit organization.
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