California Water Service (CWT) Misses Q1 EPS by 4c, Revenues Beat

California Water Service (NYSE: CWT) reported Q1 EPS of ($0.06), $0.04 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $147.74 million versus the consensus estimate of $69.67 million.

“2021 is shaping up to be a busy year, particularly on the regulatory front. We are on track to file California’s GRC for calendar years 2023 through 2025 during the second quarter of 2021, in accordance with the CPUC’s Rate Case Plan. In addition, at the request of the CPUC, we are filing an application next week in a proceeding that will set our cost of capital for 2022 through 2024. We expect this proceeding to conclude prior to yearend. And finally, we are working with the California Public Utilities Commission to find solutions for customers who haven’t been able to pay their bills during the pandemic,” he said.

For earnings history and earnings-related data on California Water Service (CWT) click here.

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