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Jun 30, 2024
Cal Water Q2 2024 Earnings Report
Reported financial results for the second quarter of 2024.
Key Takeaways
California Water Service Group reported financial results for the second quarter of 2024, which benefited from the effects of the 2021 California General Rate Case decision.
Financial results benefited from the effects of the 2021 California General Rate Case decision received on March 7, 2024.
Filed Infrastructure Improvement Plans for 2025-2027 as part of its triennial GRC filing, proposing to invest more than $1.6 billion in its districts from 2025-2027.
Company's Hawaii subsidiary hosted Community Emergency Operations Center exercises in early July on both Maui and the Big Island to enhance coordination during emergencies.
Company continues to pursue recovery for PFAS contamination costs and submitted its initial claims in the 3M and DuPont class action settlements.
Cal Water
Cal Water
Forward Guidance
Cal Water has proposed to change 2024 rates to increase 2026 total revenue by $140.6 million, or 17.1%. Cal Water also proposes rate increases of $74.2 million, or 7.7%, in 2027; and $83.6 million, or 8.1%, in 2028.