- California Water Service press release ( NYSE: CWT ): Q2 GAAP EPS of $0.36 misses by $0.20 .
- Revenue of $206.19M (-3.3% Y/Y) misses by $12.51M .
- "Over the past ten years, annual changes in accrued unbilled revenue have typically been less than $2.0 million. We expect the difference between 2022 and 2021 annual accrued unbilled revenue to be less than $2.0 million. Changes to unrealized gains on non-qualified benefit plan investments were caused by unfavorable market conditions."
- The company proposed to the CPUC spending $1.0 billion on new capital projects in 2022-2024. We evaluate new capital project expenditures in California in the context of the pending GRC and these may change as the case moves forward.
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California Water Service GAAP EPS of $0.36 misses by $0.20, revenue of $206.19M misses by $12.51M