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, through its parent California Water Service Group (NYSE: CWT), is a regulated water and wastewater utility serving more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas. The CWT news feed on Stock Titan highlights company announcements that reflect how this multi-state utility manages infrastructure, regulation, financing, and community initiatives.
Investors and observers following CWT news will see updates on regulatory proceedings, such as general rate cases, interim rate adjustments, and cost of capital decisions by state public utilities commissions. These items explain how the company recovers the cost of providing safe, clean, reliable water and wastewater services and how rate structures may evolve over time.
News coverage also includes information on infrastructure investments and system expansions. Examples from recent releases include acquisitions of smaller water systems, consolidation projects that connect disadvantaged communities with failing private wells to California Water Service systems, and capital improvements in Hawaii Water Service’s Kapalua and Waikoloa systems designed to enhance reliability, sustainability, and fire protection.
Because California Water Service Group finances significant capital programs, CWT news often features financing and capital markets activity, such as the issuance of senior unsecured notes and first mortgage bonds, as well as credit rating updates from S&P Global. Dividend declarations and quarterly earnings releases provide additional insight into the company’s financial profile and long-term dividend track record.
Community-focused stories are another recurring theme. These include the Firefighter Grant Program, which supports local fire departments with equipment and training, and partnerships with government agencies and community organizations to improve water access. For a utility operating across multiple western states, such developments help illustrate how regulatory decisions, infrastructure projects, and community engagement intersect in CWT’s day-to-day operations.
California Water Service Group (NYSE: CWT) has been named a Top Workplace in the Bay Area for the 12th year by the San Francisco Chronicle. This recognition is based on employee feedback from Cal Water, the Group's largest subsidiary. The company has implemented several initiatives to enhance the employee experience, including:
- Improved communication and feedback channels
- An at-risk pay program tied to company success
- Competitive compensation and benefits
- Opportunities for growth
- Emotional wellness resources
Cal Water employs nearly 400 people in the Bay Area, serving about 393,500 people through 125,000 customer connections across various districts. Statewide, the company serves over 2 million people through 497,700 customer connections.
California Water Service Group (NYSE: CWT) reported Q2 2024 earnings with diluted EPS of $0.70, up from $0.17 in Q2 2023. Key highlights include:
- Operating revenue increased to $244.3 million, up $50.3 million from Q2 2023
- Net income rose to $40.6 million, compared to $9.6 million in Q2 2023
- $214.4 million invested in water system infrastructure in H1 2024
- Filed 2024 General Rate Case with California Public Utilities Commission
- Proposed Low-Use Water Equity Program to assist low-income customers
- S&P Global affirmed A+ Stable credit rating for California Water Service Company
The company benefited from the 2021 California General Rate Case decision and plans to invest $1.6 billion in California water systems from 2025-2027.
California Water Service Group (NYSE: CWT) has declared its 318th consecutive quarterly dividend of $0.28 per common share. The dividend will be payable on August 23, 2024 to stockholders of record as of the close of business on August 12, 2024. This announcement demonstrates the company's consistent commitment to providing returns to its shareholders.
CWT is the parent company of regulated utilities serving over 2.1 million people across five states: California, Hawaii, New Mexico, Washington, and Texas. The company provides both regulated and non-regulated water and wastewater services through its subsidiaries. This diverse portfolio and long-standing dividend history highlight CWT's stability in the utility sector.
A new study by the Alliance for Water Efficiency (AWE) reveals that California Water Service's (Cal Water) conservation efforts have reduced customer bills by up to 20.5% over the past 15 years. The study, titled 'The Economic Value of Efficiency for California Water Service: Lower Water Bills,' demonstrates how water efficiency measures have decreased operating costs, resulting in customer savings.
Key findings include:
- Conservation measures have enabled environmental benefits such as lower chemical use and reduced energy consumption
- Tiered rate structures, universal metering, and efficient plumbing standards have contributed to lower operating costs
- Without demand reduction since 2008-2009, bills would have been 1.2% to 20.5% higher across Cal Water's service areas
- Investments in water conservation directly benefit customers by slowing the increase in water service costs over time
California Water Service Group (NYSE: CWT) has scheduled the release of its 2024 second-quarter earnings results for August 1, 2024, at 9:00 a.m. ET. The earnings conference call will follow at 11:00 a.m. ET. Stockholders and interested investors can attend by dialing in or accessing a live audio webcast. The call will be hosted by top executives, including CEO Martin A. Kropelnicki and CFO James P. Lynch. A replay will be available starting at 2:00 p.m. ET on the same day until September 30, 2024. A slide presentation will be furnished on Cal Water's website prior to the call.
California Water Service (Cal Water), the largest subsidiary of California Water Service Group (NYSE: CWT), has filed its Infrastructure Improvement Plans for 2025-2027 with the California Public Utilities Commission (CPUC). The proposal includes a $1.6 billion investment in California water systems, with $1.3 billion allocated to new capital investments.
Key projects include replacing aging pipelines, water quality upgrades, infrastructure replacements, generators, solar installations, and security enhancements. The plan also features a Low-Use Water Equity Program aimed at decoupling revenue from water sales, intended to benefit low-use, low-income customers while promoting conservation.
Cal Water seeks to increase total revenue by $140.6 million (17.1%) in 2026, $74.2 million (7.7%) in 2027, and $83.6 million (8.1%) in 2028. These proposals will undergo an 18-month review by the CPUC, with new rates potentially effective from January 2026.
California Water Service (Cal Water) has welcomed the California Supreme Court's decision to uphold decoupling as a rate-making mechanism, which supports water conservation and protects customer interests. The ruling responded to the CPUC's August 2020 Low-Income Ratepayer Assistance Phase 1 Decision, stating CPUC failed to provide adequate notice before considering eliminating decoupling. This practice helps keep water rates affordable for low-water-using customers while ensuring financial stability for utilities. Cal Water, one of four utilities challenging CPUC's decision, sees this ruling as a victory for due process rights and effective water management.
California Water Service Group has awarded $80,000 in college scholarships to 12 students from California, Hawaii, and Washington for the 2024-2025 academic year. This initiative aims to support students who plan to contribute to their communities through various fields of study, including artificial intelligence and neuroscience. The program, which has provided $760,000 in scholarships to date, is part of the company's philanthropic efforts and does not affect customer rates. Four students received $10,000 each based on academic achievement, community service, and financial need, while eight others were awarded $5,000 scholarships.
California Water Service (Cal Water), the largest subsidiary of California Water Service Group (NYSE: CWT), has completed the acquisition of Kings Mountain Park Mutual Water Company’s water system assets. The Bear Gulch District, which has been providing water to Kings Mountain through an interconnection, will now directly serve Kings Mountain customers. This acquisition is expected to enhance water supply reliability, firefighting capabilities, and support future infrastructure improvements. The transfer, supported by the State Water Resources Control Board's Division of Drinking Water, aims to ensure safe, reliable, and affordable water service.
California Water Service Group (NYSE: CWT) has released its 2023 ESG Report, showcasing significant achievements and ongoing efforts in its environmental, social, and governance (ESG) program. Key highlights include a commitment to reduce greenhouse gas emissions by 63% by 2035, $383.7 million invested in infrastructure, and saving nearly 95 million gallons of water annually through conservation programs. The company achieved 100% compliance with water quality standards, secured $83 million in funding for customer arrearages, and donated over $1.5 million to community organizations. Workforce engagement efforts included $728,000 invested in training and a doubling of veteran hires. Governance achievements feature a diverse Board of Directors and 27.2% of net procurement with diverse suppliers.
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