California Water Service (NYSE: CWT) reported Q1 EPS of ($0.11), $0.14 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $121.73 million versus the consensus estimate of $102.65 million.

According to President and Chief Executive Officer Martin A. Kropelnicki, the quarterly operating results were in line with the Company's expectations, excluding first quarter increases in drought and associated maintenance costs.

"California's historic drought and the associated $2.0 million of incremental drought costs in the first quarter put pressure on our operating results. However, we expect to recover drought-related expenses at a future date," Kropelnicki said.

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