Loading...
•
Sep 30, 2020
Cal Water Q3 2020 Earnings Report
California Water Service Group announced third quarter results
Key Takeaways
California Water Service Group reported a net income of $96.4 million, or $1.94 earnings per diluted common share, for the third quarter of 2020, compared to a net income of $42.4 million, or $0.88 earnings per diluted common share, for the third quarter of 2019. The increase was primarily due to the October 14, 2020 proposed decision in the California 2018 General Rate Case.
Net income increased by $54.0 million compared to Q3 2019, primarily due to the California 2018 General Rate Case proposed decision.
Total operating revenue increased by $71.6 million to $304.1 million compared to Q3 2019.
Total operating expenses increased by $17.0 million, or 9.4%, to $198.0 million compared to Q3 2019.
Company-funded and developer-funded capital investments during the first nine months of 2020 were $221.3 million.
Cal Water
Cal Water
Forward Guidance
The company will continue its 2020 infrastructure improvement investment program, estimated between $260.0 and $290.0 million.