AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue from contracts with customers rose to $278.0M (+8.5% YoY) and net income attributable to the Company rose to $56.5M, driven by the retroactive 2024 CA General Rate Case decision and $15.3M of one-time IRMA catch-up revenue.
Biggest Revenue Drivers
Residential$153.4M+8.1% YoY
Business$51.7M+7.6% YoY
Biggest Revenue Drivers
Total revenue: $278.0M+8.5% YoY
Residential$153.4M+8.1% YoY
Business$51.7M+7.6% YoY
Other$28.6M+10.5% YoY
Includes changes to accrued and unbilled revenue
Multiple residential$22.6M+8.8% YoY
Public authorities$15.2M+17.0% YoY
Largest Expense Items
Water production costs$91.8M+7.4% YoY
Primarily due to an increase in wholesale rates
Administrative and general$36.2M+8.7% YoY
Higher consulting services and other general corporate expenses
Depreciation and amortization$29.5M-18.0% YoY
Lower depreciation rates in California approved in the 2024 CA GRC
Margins: Net operating income rose to $70.9M from $51.8M as the retroactive 2024 CA GRC rate increase and $15.3M of IRMA catch-up revenue outpaced higher water production, administrative, and other operations costs; lower GRC-approved depreciation rates further aided margins.
Watch Items from the Filing
The 2024 CA GRC decision (approved April 30, 2026) authorizes ~$90.5M of 2026 revenue increases retroactive to January 1 and $1.45B of infrastructure investment through 2027.
Q2 2026 results include $9.3M of previously deferred WRAM revenue and $15.3M of IRMA catch-up revenue, non-recurring items that inflate the quarter's growth rate.
Pending acquisitions of Nexus's Nevada/Oregon systems (~$218.0M) and the remaining BVRT interests ($45.0M) still require state regulatory approvals before closing.
Short-term borrowings rose to $205.0M from $130.0M at year-end 2025 to help fund $276.4M of six-month utility capital expenditures.
Company estimates $269.1M of capital investment to comply with current PFAS drinking water regulation, partly offset by $18.5M of PFAS settlement proceeds received in Q2 2026 with further installments expected through 2033.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About CALIFORNIA WATER SERVICE GROUP (CWT): stock profile, AI score and financials
CALIFORNIA WATER SERVICE GROUP (CWT) stock profile, AI quality score, and SEC EDGAR financial data, a Utilities sector company. 13F Pro's AI-powered ranking engine scores CWT at 62.7/100 on a composite quality score built from its SEC filings, placing it at rank #682 of 2,925 stocks — the top 25% of the AI-ranked universe. CWT scores in the top quartile across free cash flow (86.7). Based on the latest XBRL financial filings (Q2 2026), CALIFORNIA WATER SERVICE GROUP reports quarterly revenue of $278.0M, net income of $56.5M, an operating margin of 25.5%. Top institutional holders of CWT by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, T. Rowe Price Investment Management, based on the most recent SEC filings. CWT trades on the NYSE exchange and files with the SEC under CIK 1035201. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CWT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CALIFORNIA WATER SERVICE GROUP directly from SEC EDGAR.