California Water Service (CWT) Tops Q3 EPS by 2c

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Go back to California Water Service (CWT) Tops Q3 EPS by 2c

California Water Service Group Announces Earnings for the Third Quarter 2017

October 26, 2017 9:00 AM EDT

SAN JOSE, Calif., Oct. 26, 2017 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced net income of $33.8 million or $0.70 earnings per diluted common share for the third quarter of 2017, compared to a net income of $22.9 million or $0.48 earnings per diluted common share for the third quarter of 2016.

The $10.9 million increase in net income was primarily the result of rate changes authorized in California Water Service Companys (Cal Waters) 2015 General Rate Case (GRC) decision.  Also increasing net income was an increase in unbilled revenue, increases resulting from the adoption of... More