California Water Service (CWT) Misses Q1 EPS by 10c, Revenue Beats

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Go back to California Water Service (CWT) Misses Q1 EPS by 10c, Revenue Beats

California Water Service Group Announces Results for the First Quarter 2018

April 26, 2018 8:30 AM EDT

SAN JOSE, Calif.--(BUSINESS WIRE)-- California Water Service Group (Company) (NYSE: CWT) today announced a net loss of $2.5 million or $0.05 net loss per diluted common share for the first quarter of 2018, compared to net income of $1.1 million or $0.02 earnings per diluted common share for the first quarter of 2017.

The $3.6 million decrease in net income was driven primarily by factors outside the companys immediate control, including a $1.5 million reduction in unrealized income from certain benefit plan investments due to market conditions, a $0.8 million increase in uninsured loss costs due to water... More