California Water Service (CWT) Misses Q4 EPS by 19c, Revenues Beat

California Water Service (NYSE: CWT) reported Q4 EPS of $0.31, $0.19 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $189.15 million versus the consensus estimate of $172.91 million.

“I’m also really proud of our pandemic response, our continued investment in infrastructure, and our progress on Environmental, Social, and Governance (ESG) programs and reporting,” he said.

As part of its pandemic response, the Company instituted robust safety measures and provided 15 additional days for COVID-related absences. It also forgave more than $400,000 in overdue customer bills and contributed $1.3 million to community charitable organizations.

“While many were able to shelter-in-place with their families, our team was here, day in and day out, providing an essential service and making it possible for us to complete $298.7 million in infrastructure system improvements that enhance the safety and reliability of our water infrastructure,” Kropelnicki said.

“On the ESG front, we conducted a materiality assessment to determine which ESG topics were most relevant to our business, built on our climate change efforts by completing the first phase of our Climate Change Water Resources Monitoring and Adaptation Plan, and are preparing an ESG Report that aligns with the Sustainability Accounting Standards Board reporting framework and references the Global Reporting Initiative. I’m looking forward to making additional ESG progress in the year ahead,” he said.

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

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