California Water Service (CWT) Reports In-Line Q3 EPS, Revenue Comes in Light

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Go back to California Water Service (CWT) Reports In-Line Q3 EPS, Revenue Comes in Light

California Water Service Group Announces Earnings for the Third Quarter 2018

November 1, 2018 9:00 AM EDT

SAN JOSE, Calif., Nov. 01, 2018 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced net income of $34.4 million or $0.72 earnings per diluted common share for the third quarter of 2018, compared to net income of $33.8 million or $0.70 earnings per diluted common share for the third quarter of 2017.  

The $0.6 million increase in net income was driven primarily by aggregate rate increases of $4.4 million, reflecting general rate increases net of Californias cost of capital decision. Other factors increasing net income included a $1.1 million reduction in write-offs of unrecoverable capital... More