California Wtr Svc Group (CWT) Stock News

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.

California Water Service Group (NYSE: CWT) has been recognized as one of 'America's Climate Leaders' by USA Today and Statista Inc in 2025. This first-time recognition highlights the company's achievement in driving environmental impact through significant emissions reductions.

The ranking specifically acknowledges U.S. companies with revenue exceeding $50 million that have demonstrated sustained reductions in emissions. The evaluation criteria included the compound annual reduction rate of Scope 1 and 2 greenhouse gas (GHG) emissions intensity relative to revenue from 2021 to 2023, along with the company's carbon disclosure rating.

California Water Service Group (NYSE: CWT) has announced its schedule for the 2025 first-quarter earnings release and conference call. The earnings results will be released on Thursday, May 1, 2025 at 9:00 a.m. ET, followed by an earnings conference call at 11:00 a.m. ET.

The conference call will be hosted by Chairman, President and CEO Martin A. Kropelnicki and Senior VP, CFO and Treasurer James P. Lynch. Stockholders and investors can join via phone (1-800-715-9871 or 1-646-307-1963, ID# 7963586) or through a live audio webcast. A replay will be available from 2:00 p.m. ET on May 1 through June 30, 2025. The company will provide a slide presentation on its website before the call.

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.