California Water Service Group CWT recorded fourth-quarter 2024 adjusted earnings of 33 cents per share, which surpassed the Zacks Consensus Estimate of 15 cents by a massive 120%. However, the bottom line decreased from the year-ago quarter’s figure of 52 cents.

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Full-year 2024 earnings came in at $3.25 per share, up 257.1% from the previous year’s 91 cents.

CWT’s Total Revenues
 

Operating revenues totaled $222.2 million, which missed the Zacks Consensus Estimate of $231 million by 3.9%. However, the top line increased 3.6% from $214.5 million recorded in the prior-year quarter.

Full-year revenues came in at $1.04 billion, up 30.5% from last year’s $0.79 billion.

CWT’s Operational Update
 

Total operating expenses were $189.9 million, up 6% from the year-ago quarter’s level of $179.3 million. Water production costs increased by $3.4 million due to a rise in wholesale rates and higher consumption.

CWT reported maintenance expenses of $8.7 million, up 9.8% year over year.

Net operating income was $32.3 million compared with the year-ago quarter’s reported figure of $35.2 million.

Net interest expenses were $14.9 million, up 20.6% from the prior-year quarter’s figure of $12.3 million. The year-over-year rise was due to an increase in short-term borrowing rates and higher credit balances.

CWT’s Financial Update
 

As of Dec. 31, 2024, CWT had cash and cash equivalents of $50.1 million compared with $39.6 million as of Dec. 31, 2023.

As of Dec. 31, 2024, its net long-term debt totaled $1.10 billion compared with $1.05 billion as of Dec. 31, 2023.

CWT’s Zacks Rank
 

California Water currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases
 

American Water Works Company AWK posted fourth-quarter 2024 operating earnings per share (EPS) of $1.22, which beat the Zacks Consensus Estimate of $1.13 by 7.9%. The bottom line improved 38.6% from the year-ago quarter's 88 cents.

Total quarterly revenues of $1.2 billion surpassed the Zacks Consensus Estimate of $1.08 billion by 11.4%. The top line also increased 16.4% from the year-ago figure of $1.03 billion.

American States Water AWR reported a fourth-quarter 2024 operating EPS of 69 cents, which beat the Zacks Consensus Estimate of 60 cents by 15%. In the year-ago quarter, the company reported an EPS of 55 cents.

Operating revenues totaled $143.1 million, which outpaced the Zacks Consensus Estimate of $126 million by 13.6%. The top line also increased 14.3% from $125.2 million reported in the prior-year period.

Essential Utilities Inc. WTRG delivered a fourth-quarter 2024 operating EPS of 67 cents, which beat the Zacks Consensus Estimate of 66 cents by 1.5%. EPS improved 34% from the year-ago quarter’s figure of 50 cents.

Operating revenues of $604 million surpassed the Zacks Consensus Estimate of $534 million by 13.2%. Total revenues were up 2.6% year over year.

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American Water Works Company, Inc. (AWK) : Free Stock Analysis Report

California Water Service Group (CWT) : Free Stock Analysis Report

American States Water Company (AWR) : Free Stock Analysis Report

Essential Utilities Inc. (WTRG) : Free Stock Analysis Report

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