California Water Service (CWT) Tops Q3 EPS by 83c, Revenues Beat

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Go back to California Water Service (CWT) Tops Q3 EPS by 83c, Revenues Beat

California Water Service Group Announces Third Quarter 2020 Results

November 6, 2020 9:00 AM EST

SAN JOSE, Calif., Nov. 06, 2020 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) (the Company) today announced net income of $96.4 million or $1.94 earnings per diluted common share for the third quarter of 2020, compared to a net income of $42.4 million or $0.88 earnings per diluted common share for the third quarter of 2019.   

The $54.0 million increase in net income was due to our determination that the October 14, 2020 proposed decision in the California 2018 General Rate Case (GRC) was sufficient evidence to record regulatory assets and associated revenues for interim rate recovery as well as benefits balancing... More