California Water Service Reports Q2 Earnings with Strong Revenue Growth
California Water Service (CWT) reported second-quarter earnings for fiscal year 2026, showing a significant increase in net income to $56.5 million compared to $42.2 million in the same period of 2025. Diluted EPS rose from $0.71 per share to $0.93 per share, and revenue reached $309 million, up 16.6% year-over-year. The company attributed much of its performance to retroactive application of a California rate case decision and regulatory changes that added approximately $24.3 million in additional revenues for the quarter. Capital expenditures also rose sharply during Q2, reaching $147 million — up 23.1% from last year’s second quarter — with total capital spending through June at record levels of $270 million. The company is investing heavily to replace aging infrastructure and implement new systems for PFAS treatment, which are expected to cost an estimated net $155 million over the next several years. CWT also highlighted its strong liquidity position, including unrestricted cash of $43.4 million and available credit lines totaling $395 million out of a total line capacity of $600 million.
Tickers: $CWT
Topics: capital_expenditures financial_performance regulatory_changes