California Water Service (CWT) Misses Q1 EPS by 14c

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Go back to California Water Service (CWT) Misses Q1 EPS by 14c

California Water Service Group Announces Revenues and Operating Results for the First Quarter 2016

April 28, 2016 9:01 AM EDT

SAN JOSE, CA -- (Marketwired) -- 04/28/16 -- California Water Service Group (NYSE: CWT) today announced a net loss of $0.8 million, or $0.02 net loss per diluted share, for the first quarter of 2016, compared to net income of $1.6 million, or $0.03 net income per diluted share, for the first quarter of 2015.

The decrease in net income was attributable to increases in incremental drought costs, maintenance expense, and interest expense. Total revenue decreased $0.3 million, or 0.2%, to $121.7 million for the first quarter of 2016 as compared to revenue of $122.0 million for the first quarter of 2015. Rate increases added $6.1... More