California Water Service Group reported higher revenue and net income for the third quarter of 2026, alongside continued spending on water infrastructure. The company also received a Washington rate-case decision and regulatory approvals related to water and wastewater system acquisitions in Nevada and Oregon.
Key details
- Net income was $65.4 million, up from $61.2 million a year earlier. Diluted earnings per share rose to $1.05 from $1.03.
- Revenue increased 6.7% to $332.2 million, from $311.2 million in the third quarter of 2025. The company attributed $22.1 million of additional revenue to rate changes and new customers, and another $3.9 million to changes in its Drought Response Memorandum Account. Lower customer water use reduced revenue by $4.4 million.
- Operating expenses rose 3.7% to $249.5 million, compared with $240.6 million a year earlier.
- The company invested $148.3 million in water-system infrastructure during the quarter.
- Washington regulators approved a general rate case for Washington Water Service that is expected to add $4.1 million to annual revenue.
- Utilities regulators in Nevada and Oregon approved changes of control related to water and wastewater system acquisitions. The announcement did not specify the acquisition terms or timing.
- The board declared a $0.335-per-share quarterly dividend, the company’s 327th consecutive quarterly dividend.
- Management planned to discuss results and its business outlook on a conference call on October 29.
The results show revenue and net income rising year over year, while operating expenses also increased. The Washington rate decision provides for higher annual revenue, and the Nevada and Oregon approvals address regulatory requirements for the acquisitions.