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 #679 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%. 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.