California Water (CWT) Misses Q4 EPS by 6c

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Go back to California Water (CWT) Misses Q4 EPS by 6c

California Water Service Group Announces 2019 Earnings for Year and Fourth Quarter

February 27, 2020 9:01 AM EST

SAN JOSE, Calif., Feb. 27, 2020 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) (the Company) today announced net income of $63.1 million and diluted earnings per share of $1.31 for 2019, compared to net income of $65.6 million and diluted earnings per share of $1.36 in 2018. 2019 was the third and final year of rate authorization under the 2015 General Rate Case (GRC) for the Companys California subsidiary, California Water Service Company (Cal Water.) 

The $2.5 million decrease in net income for the year was driven primarily by increases in administrative and general, other operations, depreciation and amortization, maintenance, property and other taxes,... More