California Water Service Group Reports Strong 2024 Results and Outlines Conference Call Details

California Water Service Group (NYSE: CWT) announced its fourth quarter and full year 2024 financial results in a recent filing with the Securities and Exchange Commission. The filing, dated February 27, 2025, outlines the Company’s performance for the quarter ended December 31, 2024, and includes detailed exhibits that further elaborate on the financial figures and strategic initiatives.

The Company’s Form 8-K filing noted that a press release issued on February 27, 2025, provided an overview of its financial results, which was incorporated into the filing as Exhibit 99.1. Along with the press release, Exhibit 99.2 contains a slide presentation used by management during a conference call scheduled for February 27, 2025 at 11:00 a.m. EDT. The presentation detailed key performance metrics, including comparisons to the previous period and insights on operating revenue, operating expenses, net interest expense, and earnings per share.

Highlights from the press materials include:
• A modest sequential increase in fourth quarter operating revenue from $214.5 million in Q4 2023 to $222.2 million in Q4 2024.
• An improvement in operational performance, with diluted earnings per share rising from $0.19 to $0.33 in the fourth quarter.
• Full year 2024 figures reflecting a substantial increase in operating revenue and net income compared to 2023. Additionally, the results incorporated the impacts of interim rate relief measures related to the 2021 California General Rate Case.
• Record capital investments for 2024 totaling $471 million, which underscored the Company’s commitment to capital growth, emergency preparedness, and infrastructural upgrades.

The slide presentation also provided an in-depth look at further strategic initiatives, including details on capital allocation, a maintained strong liquidity profile supported by a robust balance sheet, and key regulatory updates. Among these, the Company highlighted progress on the 2024 California General Rate Case filing and regulatory initiatives in other states aimed at more timely cost recovery for deployed capital investments. The presentation also touched on aspects of its dividend program, noting the declaration of a quarterly dividend and a one-time special dividend.

In its SEC filing, California Water Service Group emphasized that the information furnished should not be deemed “filed” for purposes of certain legal provisions, a standard disclaimer when presenting forward-looking statements. The forward-looking commentary within the slide presentation reflects management’s current expectations and assumptions regarding economic conditions, regulatory developments, and industry-specific challenges.

The Company’s leadership, including Chairman and CEO Marty Kropelnicki, CFO and Treasurer James P. Lynch, and Vice President of Rates & Regulatory Affairs Greg Milleman, will provide additional commentary on the financial results and business outlook during the scheduled conference call. Interested investors can find further details on the Company’s website under the Investor Relations section.

This filing provides a comprehensive update on the financial and strategic initiatives of California Water Service Group as it positions itself for future growth amid evolving market and regulatory conditions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read California Water Service Group’s 8K filing here.

California Water Service Group Company Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services.