California Water Service (CWT) Tops Q3 EPS by 83c, Revenues Beat

California Water Service (NYSE: CWT) reported Q3 EPS of $1.94, $0.83 better than the analyst estimate of $1.11. Revenue for the quarter came in at $304.11 million versus the consensus estimate of $286.6 million.

According to President and Chief Executive Officer Martin A. Kropelnicki, the October 14, 2020 proposed decision helps enable the Company to continue to provide safe and reliable water service to customers.

“I’m pleased with the October 14, 2020 proposed decision for our California GRC. It fully supports our goal of providing customers with the highest quality water service and reflects the Commission’s support of our operations during the challenging COVID-19 pandemic health crisis,” he said.

“I’m also pleased with the solid progress we’ve made on our 2020 infrastructure improvement investment program, making improvements totaling $221.3 million during the first nine months of 2020, despite the continuing pandemic. A top priority for the remainder of the year is to continue doing everything we can to keep our employees healthy and take care of our customers during this unprecedented time,” he said.

For earnings history and earnings-related data on California Water Service (CWT) click here.

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