California Water Service (CWT) Misses Q2 EPS by 8c

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Go back to California Water Service (CWT) Misses Q2 EPS by 8c

California Water Service Group Announces Earnings for the Second Quarter 2018

July 26, 2018 9:00 AM EDT

SAN JOSE, Calif., July 26, 2018 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced net income of $13.0 million or $0.27 earnings per diluted common share for the second quarter of 2018, compared to net income of $18.5 million or $0.39 earnings per diluted common share for the second quarter of 2017.  

The $5.5 million decrease in net income was driven primarily by $3.6 million of new business development expenses, a reduction in operating revenue of $1.7 million due to the cost of capital decision for California Water Service (Cal Water), $1.7 million in additional depreciation and amortization costs, $1.2 million in... More