New Risk • May 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €315k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (€315k sold). Duyuru • May 01
California Water Service Group announces Quarterly dividend, payable on May 22, 2026 California Water Service Group announced Quarterly dividend of USD 0.3350 per share payable on May 22, 2026, ex-date on May 11, 2026 and record date on May 11, 2026. Duyuru • Apr 10
California Water Service Group to Report Q1, 2026 Results on Apr 30, 2026 California Water Service Group announced that they will report Q1, 2026 results at 9:00 AM, Eastern Daylight on Apr 30, 2026 Duyuru • Apr 09
California Water Service Group, Annual General Meeting, May 20, 2026 California Water Service Group, Annual General Meeting, May 20, 2026. Duyuru • Mar 18
California Water Service Group Receives Proposed Decision on 2024 California General Rate Case The California Public Utilities Commission has issued a proposed decision (PD) on the 2024 General Rate Case of California Water Service, the largest subsidiary of California Water Service Group. The PD authorizes additional revenues for the company over the next three years, with rate increases of 11.1% in 2026, 5.5% in 2027, and 5.4% in 2028. The PD also reauthorizes a Monterey-Style Water Revenue Adjustment Mechanism and water production incremental cost balancing accounts, establishes a sales reconciliation mechanism, and approves a rate design to better enable the company to recover fixed costs regardless of water sales. Written comments are due by April 2, 2026, and oral arguments have yet to be scheduled. The final decision is expected to be adopted at the Commission's meeting on April 30, 2026, or shortly thereafter. Duyuru • Feb 26
California Water Service Group (NYSE:CWT) agreed to acquire Nexus Water Group's Nevada and Oregon Water and Wastewater Systems from Nexus Water Group, Inc. for approximately $220 million. California Water Service Group (NYSE:CWT) agreed to acquire Nexus Water Group's Nevada and Oregon Water and Wastewater Systems from Nexus Water Group, Inc. for approximately $220 million on February 25, 2026. The purchase price of approximately $218 million is subject to typical closing adjustments and will be funded with working capital and existing debt and equity facilities.
The transaction is subject to approval from applicable public utility commissions and has been unanimously approved by the Boards of Directors of both Company and Nexus Water Group. The deal has been unanimously approved by the board. he Company expects to complete the transaction by the end of 2026. The transaction is expected to be expects it to be accretive to existing operations within a year of closing.
Baker & McKenzie LLP acted as legal counsel for California Water Service Group. Duyuru • Feb 06
California Water Service Group to Report Q4, 2025 Results on Feb 26, 2026 California Water Service Group announced that they will report Q4, 2025 results After-Market on Feb 26, 2026 Duyuru • Jan 29
California Water Service Group Declares Quarterly Dividend, Payable on February 20, 2026 California Water Service Group declared its 324th consecutive quarterly dividend in the amount of $0.3350 per common share, payable on February 20, 2026, to stockholders of record as of the close of business on February 9, 2026. The quarterly dividend increase follows the Board of Directors’ announcement of its intent to increase the annual dividend by 8% or $0.10 per common share to $1.34, compared to the $1.20 annual dividend and $0.04 special dividend paid in 2025. Duyuru • Jan 08
California Water Service Group Announces Executive Appointments, Effective January 1, 2026 California Water Service Group announced the promotion of Todd K. Peters to Vice President, Engineering and Thomas A. Scanlon to Vice President, Corporate Controller and Chief Accounting Officer, effective January 1, 2026. Peters began his career at the Company in 1993 and has held various positions, the most recent of which was Chief Engineering Officer. He holds a Bachelor of Science Degree in Civil Engineering from San Jose State University and is a licensed Professional Engineer in California, Hawaii, New Mexico, Texas, and Washington. Scanlon joined the team in 2010 and most recently served as Corporate Controller and Chief Accounting Officer. He holds a Bachelor of Science Degree in Finance from Marquette University and a Master of Business Administration from the University of Illinois. He is also a Certified Public Accountant. Duyuru • Oct 30
California Water Service Group Declares Quarterly Dividend, Payable on November 21, 2025 At its meeting on October 29, 2025, the California Water Service Group Board of Directors declared the Company’s 323rd consecutive quarterly dividend in the amount of $0.30 per common share. The quarterly dividend will be payable on November 21, 2025, to stockholders of record as of the close of business on November 10, 2025. Duyuru • Oct 10
California Water Service Group to Report Q3, 2025 Results on Oct 30, 2025 California Water Service Group announced that they will report Q3, 2025 results at 9:00 AM, US Eastern Standard Time on Oct 30, 2025 Duyuru • Jul 31
California Water Service Declares Quarterly Dividend, payable on August 22, 2025 The Board of Directors of California Water Service Group at its meeting on July 30, 2025 declared the Company’s 322nd consecutive quarterly dividend in the amount of $0.30 per common share. The quarterly dividend will be payable on August 22, 2025, to stockholders of record as of the close of business on August 11, 2025. Duyuru • Jul 11
California Water Service Group to Report Q2, 2025 Results on Jul 31, 2025 California Water Service Group announced that they will report Q2, 2025 results at 9:00 AM, US Eastern Standard Time on Jul 31, 2025 Duyuru • May 15
California Water Service Group has filed a Follow-on Equity Offering in the amount of $350 million. California Water Service Group has filed a Follow-on Equity Offering in the amount of $350 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Duyuru • May 01
California Water Service Group Declares Quarterly Dividend, Payable on May 23, 2025 At its meeting on April 30, 2025, the California Water Service Group (Company) Board of Directors (Board) declared the company's 321st consecutive quarterly dividend in the amount of $0.30 per common share. The quarterly dividend will be payable on May 23, 2025, to stockholders of record as of the close of business on May 12, 2025. Duyuru • Apr 11
California Water Service Group to Report Q1, 2025 Results on May 01, 2025 California Water Service Group announced that they will report Q1, 2025 results at 9:00 AM, US Eastern Standard Time on May 01, 2025 Duyuru • Feb 07
California Water Service Group to Report Q4, 2024 Results on Feb 27, 2025 California Water Service Group announced that they will report Q4, 2024 results at 9:00 AM, US Eastern Standard Time on Feb 27, 2025 Duyuru • Jan 31
California Water Service Group Declares One-Time Special Dividend, Payable on February 21, 2025 California Water Service Group announced that at its meeting on January 29, 2025, the California Water Service Group Board of Directors (Board) declared a one-time special dividend in the amount of $0.04 per common share. The special one-time dividend will be payable on February 21, 2025, to stockholders of record as of the close of business on February 10, 2025. Duyuru • Jan 30
California Water Service Group Declares Quarterly Dividend, Payable on February 21, 2025 At its meeting on January 29, 2025, the California Water Service Group's Board of Directors declared the company's 320th consecutive quarterly dividend in the amount of $0.30 per common share, this reflects an $0.08 annual increase that is expected to yield an annual dividend of $1.20. The quarterly dividend will be payable on February 21, 2025, to stockholders of record as of the close of business on February 10, 2025. Declared Dividend • Nov 04
Third quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 12th November 2024 Payment date: 22nd November 2024 Dividend yield will be 2.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 13% over the next 3 years. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.03 (vs US$0.60 in 3Q 2023) Third quarter 2024 results: EPS: US$1.03 (up from US$0.60 in 3Q 2023). Revenue: US$299.6m (up 18% from 3Q 2023). Net income: US$60.7m (up 76% from 3Q 2023). Profit margin: 20% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Global Water Utilities industry. Duyuru • Oct 31
California Water Service Group Declares Quarterly Dividend, Payable on November 22, 2024 At its meeting on October 30, 2024, the California Water Service Group Board of Directors declared the company's 319th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on November 22, 2024 to stockholders of record as of the close of business on November 12, 2024. Duyuru • Oct 11
California Water Service Group to Report Q3, 2024 Results on Oct 31, 2024 California Water Service Group announced that they will report Q3, 2024 results at 9:00 AM, US Eastern Standard Time on Oct 31, 2024 Duyuru • Aug 24
California Water Service Group Announces the Retirement of Ronald D. Webb as Vice President, Chief Human Resource Officer, Effective March 31, 2025 On August 22, 2024, after 10 years of service, Ronald D. Webb, Vice President, Chief Human Resource Officer, notified the California Water Service Group (the “Company”) of his intention to retire effective after the close of business on March 31, 2025 (the “retirement date”). Declared Dividend • Aug 05
Second quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 12th August 2024 Payment date: 23rd August 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 6.7% over the next 3 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.70 (vs US$0.17 in 2Q 2023) Second quarter 2024 results: EPS: US$0.70 (up from US$0.17 in 2Q 2023). Revenue: US$244.3m (up 26% from 2Q 2023). Net income: US$40.6m (up 324% from 2Q 2023). Profit margin: 17% (up from 4.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Global Water Utilities industry. Duyuru • Aug 01
California Water Service Group Declares 318th Consecutive Quarterly Dividend, Payable on August 23, 2024 At its meeting on July 31, 2024, the California Water Service Group Board of Directors declared the company's 318th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on August 23, 2024 to stockholders of record as of the close of business on August 12, 2024. Duyuru • Jul 12
California Water Service Group to Report Q2, 2024 Results on Aug 01, 2024 California Water Service Group announced that they will report Q2, 2024 results at 9:00 AM, US Eastern Standard Time on Aug 01, 2024 Declared Dividend • Apr 29
First quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 3rd May 2024 Payment date: 17th May 2024 Dividend yield will be 2.3%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 4.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$1.21 (vs US$0.40 loss in 1Q 2023) First quarter 2024 results: EPS: US$1.21 (up from US$0.40 loss in 1Q 2023). Revenue: US$270.7m (up 107% from 1Q 2023). Net income: US$69.9m (up US$92.1m from 1Q 2023). Profit margin: 26% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Duyuru • Apr 25
California Water Service Group Declares Quarterly Dividend, Payable on May 17, 2024 At its meeting on April 24, 2024, the Board of Directors of California Water Service Group declared the company's 317th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on May 17, 2024 to stockholders of record as of the close of business on May 6, 2024. Duyuru • Apr 19
California Water Service Group, Annual General Meeting, May 29, 2024 California Water Service Group, Annual General Meeting, May 29, 2024, at 09:30 Pacific Standard Time. Agenda: To consider Election of the eleven directors named in the Proxy Statement; to consider An advisory vote to approve executive compensation; to consider Ratification of the selection of Deloitte & Touche LLP as the Group's independent registered public accounting firm for 2024; to consider Approval of Group's 2024 Equity Incentive Plan; to consider Such other business as may properly come before the Annual Meeting. Duyuru • Apr 05
California Water Service Group to Report Q1, 2024 Results on Apr 25, 2024 California Water Service Group announced that they will report Q1, 2024 results at 9:00 AM, US Eastern Standard Time on Apr 25, 2024 Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$0.91 (vs US$1.77 in FY 2022) Full year 2023 results: EPS: US$0.91 (down from US$1.77 in FY 2022). Revenue: US$794.6m (down 6.1% from FY 2022). Net income: US$51.9m (down 46% from FY 2022). Profit margin: 6.5% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Global Water Utilities industry. Duyuru • Feb 09
California Water Service Group to Report Q4, 2023 Results on Feb 29, 2024 California Water Service Group announced that they will report Q4, 2023 results at 9:00 AM, US Eastern Standard Time on Feb 29, 2024 Upcoming Dividend • Feb 02
Upcoming dividend of US$0.28 per share at 2.3% yield Eligible shareholders must have bought the stock before 09 February 2024. Payment date: 23 February 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.4%). Declared Dividend • Jan 29
Third quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 9th February 2024 Payment date: 23rd February 2024 Dividend yield will be 2.4%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (140% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 56% to bring the payout ratio under control. EPS is expected to grow by 94% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Duyuru • Jan 26
California Water Service Group Declares Quarterly Dividend, Payable on February 23, 2024 At its meeting on January 25, 2024, the California Water Service Group Board of Directors declared the company's 316th consecutive quarterly dividend, increasing the annual dividend by $0.08, or 7.7% from $1.04 to $1.12. This represents the company’s 57th consecutive annual dividend increase. The quarterly dividend of $0.26 per common share will be payable on February 23, 2024 to stockholders of record as of the close of business on February 12, 2024. Duyuru • Jan 04
California Water Service Group Announces CFO Changes California Water Service Group announced that after conducting an extensive, nation-wide search, it has selected James P. Lynch to join the company Chief Financial Officer effective January 3, 2024. He succeeds Chief Financial Officer David B. Healey. Mr. Healey will serve as Principal Financial Officer on an interim basis, ensuring a smooth transition and supporting the company in its fiscal year 2023 financial reporting. Mr. Lynch is an accomplished senior executive and seasoned finance leader with more than 22 years of experience in the water utility industry, including 12 years at SJW Group where he served as Chief Accounting Officer and, prior to that, Chief Financial Officer, and Treasurer. Before joining SJW Group, Mr. Lynch spent 14 years as an Audit Partner at KPMG, LLP, where he served as a lead audit partner on a portfolio of international and domestic publicly traded and privately held companies, including five years as independent audit partner for SJW Group and California Water Service Group. A Santa Clara University alumnus, Mr. Lynch served as a member of the Santa Clara University Accounting Advisory Board and currently serves on the board of directors of Children’s Health Council. He is also a Certified Public Accountant. Duyuru • Oct 27
California Water Service Group Announces Election of Jeffrey Kightlinger to Board of Directors California Water Service Group announced the election of Jeffrey Kightlinger, 63, to the Group’s Board of Directors, effective November 1, 2023. Kightlinger has the distinction of having been the longest serving Chief Executive Officer of the Metropolitan Water District of Southern California, the municipal water supplier in the nation. In this capacity, he oversaw the agency’s $1.8 billion budget along with water and power operations serving 19 million residents in Southern California. During his tenure, he negotiated strategic agreements on the Colorado River and the 50-year renewal of Hoover Dam hydroelectric power. He also took a leadership role in supporting a plan to build twin tunnels under the Sacramento-San Joaquin Delta to keep water flowing to Southern California while protecting endangered species. A renowned expert in water law, particularly Colorado River law, Kightlinger now owns Acequia Consulting, LLC, which provides strategic advice on water and energy issues. He has an undergraduate degree from the University of California at Berkeley and a law degree from Santa Clara University. New Risk • Oct 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.3% Last year net profit margin: 9.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 140% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (5.3% net profit margin). Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$0.60 (vs US$1.04 in 3Q 2022) Third quarter 2023 results: EPS: US$0.60 (down from US$1.04 in 3Q 2022). Revenue: US$255.0m (down 4.3% from 3Q 2022). Net income: US$34.4m (down 38% from 3Q 2022). Profit margin: 14% (down from 21% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Global Water Utilities industry. Duyuru • Oct 26
California Water Service Group Declares Quarterly Dividend, Payable on November 17, 2023 At its meeting held on October 25, 2023, the California Water Service Group Board of Directors declared the company's 315th consecutive quarterly dividend in the amount of $0.26 per common share. It will be payable on November 17, 2023, to stockholders of record as of the close of business on November 6, 2023. Duyuru • Oct 06
California Water Service Group to Report Q3, 2023 Results on Oct 26, 2023 California Water Service Group announced that they will report Q3, 2023 results at 9:00 AM, US Eastern Standard Time on Oct 26, 2023 New Risk • Jul 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 90% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Paying a dividend despite having no free cash flows. Minor Risk Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Duyuru • Jul 28
California Water Service Group Declares Quarterly Dividend, Payable on August 18, 2023 California Water Service Group Board of Directors declared the company's 314th consecutive quarterly dividend in the amount of $0.26 per common share. It will be payable on August 18, 2023 to stockholders of record as of the close of business on August 7, 2023. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$0.17 (vs US$0.36 in 2Q 2022) Second quarter 2023 results: EPS: US$0.17 (down from US$0.36 in 2Q 2022). Revenue: US$194.0m (down 5.9% from 2Q 2022). Net income: US$9.56m (down 51% from 2Q 2022). Profit margin: 4.9% (down from 9.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Global Water Utilities industry. Duyuru • Jul 07
California Water Service Group to Report Q2, 2023 Results on Jul 27, 2023 California Water Service Group announced that they will report Q2, 2023 results at 9:00 AM, US Eastern Standard Time on Jul 27, 2023 Duyuru • Jul 06
California Water Service Group Announces Election of Charles R. Patton to Board of Directors California Water Service Group (Group) announced the election of Charles R. Patton, 64, to the Group’s Board of Directors, effective July 1, 2023. Prior to his retirement in July 2022, Patton served as Executive Vice President, External Affairs, at American Electric Power Company Inc. (AEP), which serves nearly 5.5 million customers across 11 states. In this capacity, he was responsible for customer service, regulatory affairs, communications, and federal public policy. He also led corporate sustainability initiatives and AEP’s compliance program to satisfy the requirements of the North American Electric Reliability Corporation, a non-for-profit international regulatory authority whose mission is to assure the effective and efficient reduction of risks to the reliability and security of the electrical grid. Currently, Patton serves as an independent director of Ameresco Inc. and Sterling Construction Company. He holds a Bachelor’s Degree from Bowdoin College in Brunswick, Maine, and a Master’s Degree from the Lyndon B. Johnson School of Public Policy at the University of Texas at Austin. Duyuru • Jun 02
California Water Service Group Announces Executive Promotions California Water Service Group announced that it has promoted Michael B. Luu to Senior Vice President, Corporate Services & Chief Risk Officer. As Senior Vice President, he is responsible for overseeing key corporate departments, including business development, information technology, engineering, water quality and environmental assurance, and emergency preparedness, safety, and security. Michael joined the company’s Information Technology Department in 1999. He has held various positions during his tenure, including Director of Information Technology, Interim District Manager, and Vice President, Information Technology & Customer Service. Most recently, he served as Vice President, Information Technology & Chief Risk Officer. He holds a Master’s Degree in Business Administration and a Bachelor’s Degree in Management Information Systems, both from San Jose State University. Group also announced that California Water Service (Cal Water), a subsidiary of Group, promoted Shilen M. Patel to Chief Business Development Officer, effective June 1, 2023. Prior to joining Cal Water in July 2019, Shilen served as Director, Strategy & Development at Veolia North America. A seasoned professional with more than 18 years of progressive business development and corporate strategy experience, he holds a Bachelor’s Degree in Economics and Political Science from UC Santa Barbara and is expected to complete a Master of Business Administration from Santa Clara University at the end of 2023. Recent Insider Transactions • May 06
Insider recently sold €52k worth of stock On the 5th of May, Robert Kuta sold around 1k shares on-market at roughly €51.54 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €484k more than they bought in the last 12 months. Reported Earnings • Apr 28
First quarter 2023 earnings released: US$0.40 loss per share (vs US$0.02 profit in 1Q 2022) First quarter 2023 results: US$0.40 loss per share (down from US$0.02 profit in 1Q 2022). Revenue: US$131.1m (down 24% from 1Q 2022). Net loss: US$22.2m (down US$23.3m from profit in 1Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Reported Earnings • Apr 28
First quarter 2023 earnings released: US$0.40 loss per share (vs US$0.02 profit in 1Q 2022) First quarter 2023 results: US$0.40 loss per share (down from US$0.02 profit in 1Q 2022). Revenue: US$131.1m (down 24% from 1Q 2022). Net loss: US$22.2m (down US$23.3m from profit in 1Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$1.77 (vs US$1.96 in FY 2021) Full year 2022 results: EPS: US$1.77 (down from US$1.96 in FY 2021). Revenue: US$846.4m (up 7.0% from FY 2021). Net income: US$96.0m (down 5.1% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Duyuru • Feb 14
California Water Service Group to Report Q4, 2022 Results on Mar 01, 2023 California Water Service Group announced that they will report Q4, 2022 results on Mar 01, 2023 Duyuru • Jan 31
California Water Service Group Announces Executive Changes California Water Service Group announced that Shawn C. Bunting, Esq. will join the company as General Counsel and Corporate Secretary, effective March 1, 2023. He succeeds Lynne P. McGhee, who will retire after more than 19 years of service. Bunting comes to Group from American Water Works Company Inc. (American), where he has served as a key member of the legal leadership team for nearly fifteen years. In 2015, Bunting was named Vice President and Deputy General Counsel, and in 2021 he was promoted to Senior Vice President. In this role, Bunting led a large team of attorneys, legal, and compliance professionals supporting nationwide operations. Before his promotion to Deputy General Counsel in 2015, Bunting served as the Division General Counsel for three of American's five operating divisions, including its largest utilities in New Jersey and Pennsylvania. Prior to joining American in 2008, Bunting served as Assistant General Counsel at Allegheny Energy Inc. and practiced at K&L Gates LLP, a large, international law firm, in the Corporate and Securities group. Bunting holds a Juris Doctor from University of Pittsburgh School of Law, where he served as Executive Editor of the Journal of Law and Commerce. He earned his Bachelor of Arts, cum laude, in Political Science and Criminal Justice from Gettysburg College. Duyuru • Jan 27
California Water Service Group Declares Quarterly Dividend, Payable on February 17, 2023 At its meeting held on January 25, 2023, the California Water Service Group Board of Directors declared the company's 312th consecutive quarterly dividend, increasing the annual dividend by $0.04, or 4.0%, from $1.00 to $1.04. This represents the company’s 56th consecutive annual dividend increase. The quarterly dividend of $0.26 per common share will be payable on February 17, 2023 to stockholders of record on February 6, 2023. Duyuru • Jan 18
California Water Service Group Announces Board Changes The Board of Directors of California Water Service Group is saddened to report that Terry P. Bayer, the Board's Lead Independent Director, has recently suffered a serious, but treatable medical issue. In light of this medical issue, the Board has appointed Scott L. Morris as Interim Lead Independent Director, to serve in that capacity until the Board determines otherwise. The Board has also appointed Mr. Morris as an additional member of the Audit Committee of the Board. In the event that the medical issue is not timely resolved, the Board does not expect to renominate Ms. Bayer for election at the 2023 annual meeting of stockholders, but reserves the right to reappoint Ms. Bayer to the Board or renominate her for election in the future if the medical issue is resolved. Duyuru • Dec 07
California Water Service Group Announces Board Appointments California Water Service Group announced the promotion of Thomas A. Scanlon to Corporate Controller and Principal Accounting Officer and Justin B. Skarb to Vice President, Government & Community Affairs, effective January 1, 2023. Before joining California Water Service Group as Director of Financial Reporting in 2010, Scanlon served as Subsidiary Controller at Sun Power Systems Corporation. A seasoned professional with more than 25 years of progressive construction and financial management experience, he is a Certified Public Accountant with a Bachelor of Science degree in Finance from Marquette University and a Master of Business Administration degree from University of Illinois. He will succeed David B. Healey, who is retiring after 13 years of service. Justin B. Skarb began his career at the company in 2009 in the newly created role of Government & Community Relations Manager and was promoted to Director of Community Affairs & Government Relations in 2017. During his tenure, he has helped establish the company as a leader on policy issues and a stalwart contributor to its communities. He holds a Bachelor of Science degree in Political Science from Arizona State University and a Master of Arts degree in Communication from California State University, Fullerton. He expects to complete his Juris Doctorate in 2024. Board Change • Dec 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Bonnie Maldonado was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 01
Independent Director recently sold €93k worth of stock On the 30th of November, Thomas Krummel sold around 2k shares on-market at roughly €61.01 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €507k more than they bought in the last 12 months. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$1.03 (vs US$1.21 in 3Q 2021) Third quarter 2022 results: EPS: US$1.03 (down from US$1.21 in 3Q 2021). Revenue: US$266.3m (up 3.7% from 3Q 2021). Net income: US$55.9m (down 11% from 3Q 2021). Profit margin: 21% (down from 24% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Global Water Utilities industry. Duyuru • Oct 27
California Water Service Group Declares Quarterly Dividend, Payable on November 18, 2022 California Water Service Group Board of Directors declared the company's 311th consecutive quarterly dividend in the amount of $0.25 per common share. It will be payable on November 18, 2022 to stockholders of record on November 7, 2022. Duyuru • Oct 06
California Water Service Group Announces Board Appointments California Water Service Group announced that Chairman Peter C. Nelson will retire in May 2023, in accordance with the age limit set forth in the company’s by-laws. In 1996, Nelson joined the Board of Directors and became the company’s President & Chief Executive Officer, a position he held for 17 years. He assumed the role of Board Chair in 2013. Group has selected Kropelnicki to assume the role of Chairman, President & Chief Executive Officer when Nelson retires. He has served as President & Chief Executive Officer of Group, and as a Director, since 2013. When he assumes the role as Chairman, he will lead a Board comprised of nine independent directors, with Ms. Bayer continuing to act as Lead Independent Director. Duyuru • Sep 08
California Water Service Group Announces the Resignation of Richard P. Magnuson as Member of the Board On September 2, 2022, Richard P. Magnuson notified the Chairman of the Board of Directors (the Board") of California Water Service Group (the Company") of his decision to resign, effective immediately, from his position as a member of the Board. Recent Insider Transactions • Aug 20
Independent Director recently sold €63k worth of stock On the 19th of August, Lester Snow sold around 1k shares on-market at roughly €62.79 per share. In the last 3 months, there was an even bigger sale from another insider worth €70k. Insiders have been net sellers, collectively disposing of €326k more than they bought in the last 12 months. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$0.36 (vs US$0.75 in 2Q 2021) Second quarter 2022 results: EPS: US$0.36 (down from US$0.75 in 2Q 2021). Revenue: US$206.2m (down 3.3% from 2Q 2021). Net income: US$19.5m (down 49% from 2Q 2021). Profit margin: 9.4% (down from 18% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 3.6%, compared to a 6.0% growth forecast for the industry in Germany. Duyuru • Jul 28
California Water Service Group Declares Quarterly Dividend, Payable on August 19, 2022 The California Water Service Group Board of Directors declared the company's 310th consecutive quarterly dividend in the amount of $0.25 per common share. It will be payable on August 19, 2022 to stockholders of record on August 8, 2022. Duyuru • Jul 08
California Water Service Group to Report Q2, 2022 Results on Jul 28, 2022 California Water Service Group announced that they will report Q2, 2022 results at 9:00 AM, US Eastern Standard Time on Jul 28, 2022 Duyuru • Jun 25
California Water Service Group Announces Retirement of David B. Healey as Controller and Chief Accounting Officer, Effective January 1, 2023 California Water Service Group announced David B. Healey, Vice President, Controller and Chief Accounting Officer, notified the Company of his intention to retire effective January 1, 2023 (the “retirement date”). To assist in the transition of Mr. Healey’s duties and responsibilities, it is anticipated that Mr. Healey and the Company will enter into an agreement on or about the retirement date, pursuant to which he will continue to serve in an advisory capacity to the Company regarding the organization’s accounting functions, ledgers and financial accounts, and other reporting and auditing functions for an agreed period of time. The Company expects to announce Mr. Healey’s replacement before the end of the year. Recent Insider Transactions • Jun 07
Insider recently sold €70k worth of stock On the 3rd of June, Robert Kuta sold around 1k shares on-market at roughly €51.45 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €418k more than they bought in the last 12 months. 