California Water Service Q3 revenue increases 6.7% to $332.2 million
Key points
- California Water Service Group (NYSE:CWT) reported third-quarter 2026 revenue of $332.2 million, up 6.7% year over year, and net income of $65.4 million.
- The company invested $424.8 million in infrastructure during the first nine months of 2026, up 16.5% from the comparable period.
- Approved rate increases in Washington and Hawaii will add annual revenue of $4.1 million and $1.94 million, respectively, while acquisitions of Nexus water systems in Nevada and Oregon are expected to close in the fourth quarter.
California Water Service Group (NYSE:CWT) reported third-quarter 2026 revenue of $332.2 million, up 6.7% year over year, while net income increased to $65.4 million.
Diluted earnings per share rose to $1.05 from $1.03 a year earlier, while operating expenses increased 3.7% to $249.5 million.
Infrastructure investment reached $424.8 million during the first nine months of 2026, up 16.5%, while nine-month net income increased to $125.9 million from $116.7 million.
Approved rate increases in Washington and Hawaii are expected to add annual revenue of $4.1 million and $1.94 million, respectively, while acquisitions of Nexus water systems in Nevada and Oregon are expected to close in the fourth quarter.
The company raised $49.8 million through stock sales, arranged additional equity forward sales and debt financing, and declared a quarterly dividend of $0.335 per share while expecting its annual dividend to increase 8.1% over 2025.
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