The stock may react positively to the non-GAAP growth and acquisition, but traders should monitor the integration of the $218 million acquisition and the outcome of the 2024 California General Rate Case, which could impact future earnings.
Price Chart
Executive Summary
California Water Service Group reported a 32.8% YoY decline in net income to $128.2 million for 2025, primarily due to a one-time $87.5 million revenue boost in 2024 from a delayed rate case. On a non-GAAP basis, revenue and earnings were up 5.4% and 1.1% respectively. The company also announced a $218 million acquisition of Nexus Water Group's Nevada and Oregon subsidiaries, adding 36,000 connections and $109 million to its rate base, and increased its annual dividend by 10.71%.
Key Financial Metrics
Key Facts
- 2025 net income declined 32.8% YoY to $128.2 million due to a one-time $87.5 million revenue boost in 2024 from a delayed rate case
- On a non-GAAP basis, 2025 revenue increased 5.4% and net income increased 1.4% compared to 2024
- Company announced $218 million acquisition of Nexus Water Group's Nevada and Oregon subsidiaries, adding 36,000 equivalent residential connections and $109 million to rate base
- Dividend increased 10.71% to $1.24 per share, marking 58th consecutive annual increase
- Record $517 million invested in infrastructure in 2025, up 9.8% from 2024
Financial Impact
GAAP net income down $62.6 million YoY, but up $1.4 million on non-GAAP basis; $218 million acquisition funded with existing facilities
Risk Factors
- Integration risk of the $218 million acquisition
- Regulatory risk from the pending 2024 California General Rate Case decision
- Weather-related revenue volatility as seen in Q4 2025
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-019681 |
| Document: tm267278d1_8k.htm | 0001104659-26-019681 |
| Document: tm267278d1_ex99-2.htm | 0001104659-26-019681 |
| Document: tm267278d1_ex99-3.htm | 0001104659-26-019681 |
| Document: 0001104659-26-019681-index-headers.html | 0001104659-26-019681 |
| Document: 0001104659-26-019681-index.html | 0001104659-26-019681 |
| Document: 0001104659-26-019681.txt | 0001104659-26-019681 |
| CONTEXT: Previous Earnings (2026-02-25) | 0001104659-26-019681 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 9w ago | Press Release | $50.50 $50.09 | ▼ −0.81% | ▼ −4.78% | $45.96 (−8.99%) |
Jun 16, 2026 15w ago | Court Ruling | $45.45 $50.01 | ▲ +10.03% | ▲ +9.83% | $45.96 (+1.12%) |
May 27, 2026 18w ago | Insider Cluster | $43.82 $49.08 | ▲ +12.00% | ▲ +15.15% | $45.96 (+4.88%) |
May 20, 2026 19w ago | 8-K | $43.21 $45.29 | ▲ +4.81% | ▲ +4.48% | $45.96 (+6.36%) |
May 1, 2026 22w ago | 424B5 | $42.72 $43.86 | ▲ +2.67% | ▼ −2.97% | $45.96 (+7.59%) |
May 1, 2026 22w ago | 8-K | $42.03 $43.86 | ▲ +4.35% | ▼ −0.94% | $45.96 (+9.34%) |
Apr 30, 2026 22w ago | 8-K | $41.91 $45.10 | ▲ +7.60% | ▲ +2.37% | $45.96 (+9.65%) |
Apr 30, 2026 22w ago | Press Release | $41.91 $45.10 | ▲ +7.60% | ▲ +2.37% | $45.96 (+9.65%) |
Mar 20, 2026 28w ago | Insider Cluster | $43.57 $46.85 | ▲ +7.52% | ▼ −1.79% | $45.96 (+5.48%) |
Mar 18, 2026 28w ago | 8-K | $42.94 $44.81 | ▲ +4.36% | ▼ −1.68% | $45.96 (+7.04%) |
US Market Status
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