California Water Service Group: 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ California Water Service Group Holding (CWT) on Thursday reported second-quarter net income of $17 million.
On a per-share basis, the San Jose, California-based company said it had profit of 35 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The water utility posted revenue of $179 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $178.3 million.
California Water Service Group shares have risen 12% since the beginning of the year. The stock has increased 30% in the last 12 months.