The EPS miss against consensus is notable, but revenue beat and strong year-over-year growth in net income and revenue provide a mixed picture. Watch for the Q4 2026 close of the Nevada and Oregon acquisitions and the impact of the new $275M debt issuance on the balance sheet and future rate base growth.
Price Chart
Executive Summary
California Water Service Group reported Q3 2026 net income of $65.4M and diluted EPS of $1.05, up from $61.2M and $1.03 in Q3 2025. Revenue rose 6.7% to $332.2M. The EPS of $1.05 missed the consensus estimate of $1.21, while revenue of $332.2M beat the $316.2M consensus. The company also received regulatory approvals for its Nevada and Oregon acquisitions, which are expected to close in Q4 2026, and secured $275M in new debt financing.
Key Financial Metrics
Key Facts
- Q3 2026 net income $65.4M vs $61.2M in Q3 2025, a 6.9% increase
- Q3 2026 diluted EPS $1.05 vs $1.03 in Q3 2025
- Q3 2026 revenue $332.2M vs $311.2M in Q3 2025, a 6.7% increase
- EPS of $1.05 missed consensus estimate of $1.21 (a miss of 13.2%)
- Revenue of $332.2M beat consensus estimate of $316.2M
- Company invested $148.3M in water system infrastructure in Q3 2026
- Received change-of-control approval from Nevada and Oregon commissions for Nexus Water Group acquisitions; expects Q4 2026 close
- Entered into agreements to issue $125M in unsecured notes and $150M in secured bonds
- Sold 1.0M shares via ATM equity program for $49.8M in Q3; entered forward sales for 1.6M additional shares
- Declared 327th consecutive quarterly dividend of $0.335 per share
Financial Impact
EPS miss of 13.2% vs consensus ($1.05 actual vs $1.21 estimate); revenue beat of 5.1% ($332.2M actual vs $316.2M estimate)
Risk Factors
- EPS miss of 13.2% vs consensus may pressure the stock near-term
- Customer water usage decline offset revenue growth by $4.4M in Q3
- Net other income decreased $6.0M due to lower benefit plan investment gains and acquisition expenses
- Interest expense increased to $20.2M from $18.1M in Q3 2025
- Execution risk on integration of Nevada and Oregon acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-119776 |
| Document: tm2628507d1_ex99-2.htm | 0001104659-26-119776 |
| Document: tm2628507d1_8k.htm | 0001104659-26-119776 |
| Document: 0001104659-26-119776-index-headers.html | 0001104659-26-119776 |
| Document: 0001104659-26-119776-index.html | 0001104659-26-119776 |
| Document: 0001104659-26-119776.txt | 0001104659-26-119776 |
| 8-K Data (Synthetic) | 0001104659-26-119776 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 1d ago | Press Release | $47.62 $48.50 | ▼ −1.85% | ▼ −3.62% | $48.50 (−1.85%) |
Oct 28, 2026 2d ago | 8-K | $47.62 $48.50 | ▲ +1.85% | ▲ +3.62% | $48.50 (+1.85%) |
Oct 28, 2026 2d ago | Press Release | $47.62 $48.50 | ▲ +1.85% | ▲ +3.62% | $48.50 (+1.85%) |
Oct 26, 2026 4d ago | SC 13G/A | $47.76 $47.82 | ▲ +0.13% | ▼ −0.43% | $48.50 (+1.55%) |
Oct 15, 2026 15d ago | 8-K | $46.05 $46.35 | ▲ +0.65% | ▲ +1.76% | $48.50 (+5.32%) |
Sep 30, 2026 4w ago | Press Release | $45.05 $45.96 | ▲ +2.02% | ▲ +1.28% | $48.50 (+7.66%) |
Jul 29, 2026 13w ago | Press Release | $50.50 $50.11 | ▼ −0.77% | ▼ −1.48% | $48.50 (−3.96%) |
Jun 16, 2026 19w ago | Court Ruling | $45.45 $45.00 | ▼ −0.99% | ▲ +0.26% | $48.50 (+6.71%) |
May 27, 2026 22w ago | Insider Cluster | $43.82 $45.10 | ▲ +2.92% | ▲ +2.68% | $48.50 (+10.68%) |
US Market Status
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