California Water Service (CWT) Misses Q1 EPS by 25c

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Go back to California Water Service (CWT) Misses Q1 EPS by 25c

California Water Service Group Announces Results for the First Quarter 2019

April 25, 2019 9:01 AM EDT

SAN JOSE, Calif., April 25, 2019 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) today announced a net loss of $7.6 million or $0.16 net loss per diluted common share for the first quarter of 2019, compared to a net loss of $0.8 million or $0.02 loss per diluted common share for the first quarter of 2018. 

The $6.8 million increase in net loss was primarily due to increases in operating expenses which were not fully offset by rate increases and a reduction in accrued unbilled revenue driven by weather. These were partially offset by an increase in unrealized gain on... More