California Water Service (CWT) Tops Q4 EPS by 4c, Revenues Beat
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California Water Service Group Announces 2018 Earnings for Year and Fourth Quarter
February 28, 2019 9:17 AM ESTSAN JOSE, Calif., Feb. 28, 2019 (GLOBE NEWSWIRE) -- California Water Service Group (Company) (NYSE: CWT) today announced net income of $65.6 million and diluted earnings per share of $1.36 for 2018, compared to net income of $72.9 million and diluted earnings per share of $1.52 in 2017. The 2017 as reported net income was increased for an immaterial error that understated operating revenue.Â
The $7.3 million decrease in net income was driven primarily by a $6.9 million reduction in revenue due to the cost of capital decision for California Water Service (Cal Water) and a $5.0 million increase in new business development... More
