- California Water Service press release (NYSE:CWT): Q1 GAAP EPS of -$0.40.
- Revenue of $131M (-24.2% Y/Y).
- Operating revenue was $131.1 million for the quarter ended March 31, 2023, compared to $173.0 million for the same period in 2022. The $41.9 million, or 24.2%,
- revenue decrease was primarily attributable to an $18.8 million increase in revenue deferral, a $12.1 million decrease in WRAM and MCBA revenue, and a $12.9 million decrease in customer usage.
- Group maintained $52.3 million of cash as of March 31, 2023 and has additional short-term borrowing capacity of more than $470 million,