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California Water Service (CWT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · California Water Service (CWT) Q3 2026 earnings results →
Q3 2026 Revenue up 5% year over year to $331M · 20¢ of every $1 of revenue kept as net profit · operating margin 25.0%
California Water Service made $331M in Q3 2026 (+5% Y/Y): Residential $197M, Business $61.3M, Multiple residential $24.8M. Operating margin 25.0%, net earnings $65.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $331.2M in Q3 2026, up 5% year over year and up 19% from the previous quarter. Residential was the largest line at 59% of revenue. Residential added $9.8M year over year (up 5%), 57% of the total change. Industrial declined 30%.
Operating profit was $82.7M, a 25.0% margin (up 2.5 points year over year). Of the extra revenue versus Q3 2025, 71% reached operating profit, above the 22% margin then. Total costs grew 2% against revenue growth of 5%. Net earnings were $65.4M, up 7% year over year. The effective tax rate was 21.9%.
Operating cash flow was $149.3M (down 11% year over year), 228% of net earnings. Non-cash charges added back $35.4M of depreciation and amortization and $700K of share-based compensation. Working capital and other items added $47.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $331M | +5% | 25.0% | $65.4M | $149M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $278M | +8% | 25.5% | $56.5M | $63.6M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $197M | +8% | 9.2% | $4.0M | $49.4M |
| Q4 2025 | 10-K | Feb 27, 2026 | $211M | -3% | 12.2% | $11.5M | $47.9M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $314M | +3% | 22.5% | $61.1M | $167M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $256M | +13% | 20.2% | $42.0M | $48.9M |
| Q1 2025 | 10-Q | May 1, 2025 | $183M | +18% | 12.2% | $13.3M | $38.4M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About California Water Service
This annual report, including all documents incorporated by reference, contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (the PSLRA). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the PSLRA. Forward-looking statements in this annual report are based on currently available information, expectations, estimates, assumptions and projections, and our management’s beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact.
In its own words, from its 10-K, filed Feb 27, 2026.
California Water Service against its Water Supply peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +5%. Operating margin: 25.0% against the peers' median 35.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CWT California Water Service | Q3 2026 | $331M | +5% | 25.0% |
| AWK American Water Works Company | Q3 2026 | $1.5B | +4% | 42.5% |
| WTRG Essential Utilities | Q3 2026 | $508M | +7% | 37.9% |
| HTO H2O America | Q3 2026 | $250M | +4% | 24.2% |
| AWR American States Water | Q3 2026 | $193M | +5% | 35.0% |
| MSEX Middlesex Water | Q3 2026 | $60.2M | +11% | 37.0% |
| CWCO Consolidated Water | Q2 2026 | $32.9M | -2% | 11.4% |
| ARTNA Artesian Resources | Q2 2026 | $30.7M | +7% | 28.1% |
| YORW York Water | Q3 2026 | $24.3M | +20% | 43.3% |
Source: California Water Service 10-Q on SEC EDGAR · CIK 1035201 · Water Supply
13F: who owns CWT and who is buying
More on CWT
- How California Water Service makes money: revenue by segment
- California Water Service next earnings date and what analysts expect
- California Water Service stock forecast, price target and fair value
- Who owns California Water Service stock: holders, funds and Congress trades
- Is California Water Service a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results