We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
California Water (CWT) Q4 Earnings Lag, Revenues Beat Mark
Read MoreHide Full Article
California Water Service (CWT - Free Report) generated fourth-quarter 2020 earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 35 cents by 11.4%. However, the bottom line improved 29.2% from 24 cents in the year-ago quarter.
Total Revenues
Operating revenues of $189.2 million beat the Zacks Consensus Estimate of $184 million by 2.8%. The top line also improved 6.9% from $176.9 million in the prior-year quarter.
Operational Update
In the quarter under review, California Water’s total operating expenses were $164.1 million, up 4.9% year over year.
In the fourth quarter, net operating income was $25 million, up 23% from the year-ago quarter.
Interest expenses were $11.5 million, up 1% year over year.
California Water Service Group Price, Consensus and EPS Surprise
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2020 earnings per share of 76 cents, which surpassed the Zacks Consensus Estimate of 74 cents by 2.7%.
American States Water Co. (AWR - Free Report) reported fourth-quarter 2020 operating earnings of 54 cents per share, which surpassed the Zacks Consensus Estimate of 49 cents by 10.2%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Shutterstock
California Water (CWT) Q4 Earnings Lag, Revenues Beat Mark
California Water Service (CWT - Free Report) generated fourth-quarter 2020 earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 35 cents by 11.4%. However, the bottom line improved 29.2% from 24 cents in the year-ago quarter.
Total Revenues
Operating revenues of $189.2 million beat the Zacks Consensus Estimate of $184 million by 2.8%. The top line also improved 6.9% from $176.9 million in the prior-year quarter.
Operational Update
In the quarter under review, California Water’s total operating expenses were $164.1 million, up 4.9% year over year.
In the fourth quarter, net operating income was $25 million, up 23% from the year-ago quarter.
Interest expenses were $11.5 million, up 1% year over year.
California Water Service Group Price, Consensus and EPS Surprise
California Water Service Group price-consensus-eps-surprise-chart | California Water Service Group Quote
Financial Update
As of Dec 31, 2020, the company had cash and cash equivalents of $44.6 million compared with $42.7 million as of Dec 31, 2019.
As of Dec 31, 2020, the company’s net long-term debt was down to $781.1 million from $786.8 million as of Dec 31, 2019.
Guidance
The company expects to invest $270-$300 million in 2021.
Zacks Rank
The utility currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2020 earnings per share of 76 cents, which surpassed the Zacks Consensus Estimate of 74 cents by 2.7%.
American States Water Co. (AWR - Free Report) reported fourth-quarter 2020 operating earnings of 54 cents per share, which surpassed the Zacks Consensus Estimate of 49 cents by 10.2%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>