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Dec 31, 2021
Cal Water Q4 2021 Earnings Report
Net income decreased due to a decrease in unbilled revenue, increase in depreciation expense, and increase in maintenance expense.
Key Takeaways
For the fourth quarter of 2021, net income attributable to CWT was $3.5 million and diluted earnings per share was $0.07, compared to net income attributable to CWT of $15.5 million and diluted earnings per share of $0.31 in the fourth quarter of 2020. Operating revenue for the fourth quarter decreased $15.8 million, or 8.4%, to $173.3 million.
Net income attributable to CWT decreased by $12.0 million compared to Q4 2020.
Diluted earnings per share decreased to $0.07 from $0.31 in Q4 2020.
Operating revenue decreased by $15.8 million, or 8.4%, to $173.3 million.
Net interest expense increased $0.3 million to $11.3 million.
Cal Water
Cal Water
Forward Guidance
No forward guidance provided in the press release.