California Water Service (CWT) Tops Q4 EPS by 7c
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California Water Service Group Announces 2017 Earnings for Year and Fourth Quarter
March 1, 2018 9:02 AM ESTSAN JOSE, Calif., March 01, 2018 (GLOBE NEWSWIRE) -- California Water Service Group (Company) (NYSE: CWT) today announced net income of $67.2 million and diluted earnings per share of $1.40 for 2017, compared to net income of $48.7 million and diluted earnings per share of $1.01 in 2016.
The $18.5 million increase in net income was primarily the result of rate changes authorized in California Water Service Company's (Cal Water's) 2015 General Rate Case (GRC) decision. Net income also increased due to the adoption of allowance for equity funds used during construction (equity AFUDC) in 2017, an increase in accrued unbilled revenue,... More
