Filing Flows › California Water Service (CWT) › Q3 2025
California Water Service (CWT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
California Water Service (CWT) reported revenue of $314M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +23% from the quarter before. Operating margin was 22.5%, net earnings $61.1M (19.5% of revenue).
California Water Service, Q3 2025: revenue $314M (+3% year over year), operating margin 22.5%, net earnings $61.1M, operating cash flow $167M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $314M | +23% | +3% |
| Operating profit | $70.6M | +36% | +6% |
| Net earnings | $61.1M | +45% | +0.9% |
| Operating cash flow | $167M | +242% | +64% |
What changed
Revenue was $314.1M in Q3 2025, up 3% year over year and up 23% from the previous quarter. Residential was the largest line at 59% of revenue. Other added $2.7M year over year (up 18%), 35% of the total change.
Operating profit was $70.6M, a 22.5% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 49% reached operating profit, above the 22% margin then. Total costs grew 2% against revenue growth of 3%. Net earnings were $61.2M, up 1% year over year. The effective tax rate was 17.1%.
Operating cash flow was $167.3M (up 64% year over year), 274% of net earnings. Non-cash charges added back $36.7M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $68.0M.
Questions
What was California Water Service's revenue in the third quarter 2025?
California Water Service (CWT) reported revenue of $314M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +23% from the quarter before.
Was California Water Service profitable in the third quarter 2025?
Operating profit was $70.6M (22.5% of revenue) and net earnings $61.1M.