California Water Service (CWT) Misses Q2 EPS

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Go back to California Water Service (CWT) Misses Q2 EPS

California Water Service Group Announces Second Quarter 2022 Results

July 28, 2022 9:00 AM EDT

SAN JOSE, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE: CWT) ( Group) today announced net income attributable to Group of $19.5 million or $0.36 earnings per diluted common share for the second quarter of 2022, compared to net income attributable to Group of $38.2 million or $0.75 earnings per diluted common share for the second quarter of 2021.

        The $18.7 million decrease in net income attributable to Group was primarily due to a reduction of $15.2 million in accrued unbilled revenue and a $6.2 million decrease in unrealized gains on non-qualified benefit plan investments. Increases of $8.7 million in other operations... More