Filing Flows › California Water Service (CWT) › Q1 2026
California Water Service (CWT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
California Water Service (CWT) reported revenue of $197M for the first quarter 2026 (Q1 2026), +8% from a year earlier and -6% from the quarter before. Operating margin was 9.2%, net earnings $4.0M (2.0% of revenue).
California Water Service, Q1 2026: revenue $197M (+8% year over year), operating margin 9.2%, net earnings $4.0M, operating cash flow $49.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $197M | -6% | +8% |
| Operating profit | $18.2M | -29% | -19% |
| Net earnings | $4.0M | -65% | -69% |
| Operating cash flow | $49.4M | +3% | +29% |
What changed
Revenue was $197.3M in Q1 2026, up 8% year over year and down 6% from the previous quarter. Residential was the largest line at 55% of revenue. Other added $8.7M year over year (up 465%), 59% of the total change. Industrial declined 7%.
Operating profit was $18.2M, a 9.2% margin (down 3.0 points year over year). Operating profit fell $4.2M even though revenue rose $14.6M versus Q1 2025, so costs grew faster than sales. Total costs grew 12% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $4.0M, down 70% year over year. The effective tax rate was 26.6%.
Operating cash flow was $49.4M (up 29% year over year), 1223% of net earnings. Non-cash charges added back $40.3M of depreciation and amortization and $600K of share-based compensation. Working capital and other items added $4.5M.
Questions
What was California Water Service's revenue in the first quarter 2026?
California Water Service (CWT) reported revenue of $197M for the first quarter 2026 (Q1 2026), +8% from a year earlier and -6% from the quarter before.
Was California Water Service profitable in the first quarter 2026?
Operating profit was $18.2M (9.2% of revenue) and net earnings $4.0M.