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Last $24.73 USD
Change Today +0.47 / 1.94%
Volume 150.7K
CWT On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

california water service grp (CWT) Key Developments

California Water Service Group Names Robert J. Kuta as Vice President, Engineering, Effective on April 20, 2015

California Water Service Group has announced the selection of Robert J. Kuta, 50, as Vice President, Engineering, effective on April 20, 2015. Kuta has more than 31 years of experience in the water and wastewater industry, serving most recently as Senior Vice President, Operations Management Services -- Water, Environmental &Nuclear, at CH2M Hill. Kuta will relocate from his current home of Scottsdale, Arizona to the San Jose area.

California Water Service Group Enters into New $450 Million Credit Agreement

California Water Service Group announced that it has entered into unsecured revolving credit facilities for the Group and its subsidiaries totaling $450 million for a term of five years. Of the total, $300 million is available to California Water Service Company (Cal Water), a wholly owned subsidiary of Group, and $150 million is available to Group and the subsidiaries other than Cal Water. Additionally, the credit facilities may each be expanded by up to $50 million, or $100 million total, subject to certain conditions. The proceeds from the credit facilities may be used for working capital purposes, including short-term financing of capital projects. The base loan rate may vary from LIBOR plus 72.5 basis points to LIBOR plus 95 basis points, depending on the Group's total capitalization ratio. Likewise, the unused commitment fee may vary from 8 basis points to 12.5 basis points, based upon the same ratio. The Group expects its pricing to be LIBOR plus 80 basis points, with a 9 basis point unused commitment fee based on its current capitalization.

California Water Service Group Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

California Water Service Group reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported operating revenue of $137,384,000 against $133,700,000 for the same period in the last year. Net operating income was $16,569,000 against $11,648,000 for the same period in the last year. Net income was $11,394,000 or $0.24 per basic and diluted share against $5,666,000 or $0.12 per basic and diluted share for the same period in the last year. The increase in net income was due primarily to incremental revenue from the approval of 2012 GRC in California and reductions in operating expenses. For the year, the company reported operating revenue of $597,499,000 against $584,103,000 for the same period in the last year. Net operating income was $81,847,000 against $74,005,000 for the same period in the last year. Net income was $56,738,000 or $1.19 per basic and diluted share against $47,254,000 or $1.02 per basic and diluted share for the same period in the last year. The increase in net income is attributable primarily to the approval of the General Rate Case (GRC) of the company's large subsidiary, California Water Service Company (Cal Water), as well as reductions in administrative and general, other operations, net interest, and property tax expenses. In 2014, the company about $132.0 million on infrastructure improvements, which included 81,000 feet of planned new or replacement water main statewide, plus completion of two new wells, seven new storage tanks, and one new granular-activated carbon treatment facility.

California Water Service Group to Report Q4, 2014 Results on Feb 25, 2015

California Water Service Group announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 25, 2015

California Water Service Group, Q4 2014 Earnings Call, Feb 26, 2015

California Water Service Group, Q4 2014 Earnings Call, Feb 26, 2015

 

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CWT Competitors

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American States Water Co $39.92 USD +0.30
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SJW Corp $30.41 USD +0.43
York Water Co/The $24.23 USD +0.01
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CWT

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Valuation CWT Industry Range
Price/Earnings 20.8x
Price/Sales 2.0x
Price/Book 1.9x
Price/Cash Flow 10.0x
TEV/Sales 1.1x
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