California Water Service: third-quarter revenue up 6.7% on rate hikes
California Water Service reported third-quarter revenue up 6.7% year on year, driven by rate changes and new customers. Diluted EPS came in at $1.05.
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what happened
US water utility California Water Service Group reported that third-quarter revenue rose 6.7% year on year, while diluted earnings per share reached $1.05 against $1.03 a year earlier, according to Reuters.
The company said revenue growth came from rate changes, new customers and regulatory approvals in Washington, which were partly offset by lower customer water usage. Operating revenue was $332.2 million against a consensus of $332.17 million, net income was $65.4 million, and the quarterly dividend was $0.34.
The company expects to close its Nevada and Oregon acquisitions in the fourth quarter of 2026 and to invest $228 million in PFAS treatment and well replacement projects. It says it has resources to finance ongoing initiatives into the first half of 2027.
why it matters
The report concerns a single water utility, so its effect on the broader market is limited. For investors in utility stocks, steady rate growth and a expanding customer base are the key points; according to LSEG data, analysts' average rating on the shares is buy, with a median 12-month price target of $56.
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- California Water Service Q3 revenue rises on rate hikes, customer growth — Reuters, 29 October 2026 at 01:28 UTC
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