California Water Service Reports Q2 Revenue Growth to $332.2 Million
California Water Service (CWT) reported GAAP earnings per share of $1.05 for the recent period, accompanied by a 6.7% year-over-year increase in revenue to $332.2 million. The growth was primarily driven by rate adjustments and an expanded customer base, which contributed $22.1 million to the top line. Additional revenue of $3.9 million was generated through changes in the Drought Response Memorandum Account (DREMA). However, these gains were partially mitigated by a $4.4 million decline in overall customer water usage, reflecting shifting consumption patterns.
Tickers: $CWT
Topics: customer usage Drought Response Memorandum Account GAAP EPS revenue growth
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Part of the story CALIFORNIA WATER SERVICE GROUP - 8-K Filing (12 articles)