California Water Service Group (NYSE:CWT) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
California Water Service Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.03 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Decreased 4.58% to $111.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: California Water Service Group reported adjusted EPS loss of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0. It missed the average revenue estimate of $113.58 million.
Quoting Management: “Results for the first quarter were in line with the Company’s expectations due to the seasonality of our business,” said Chairman and Chief Executive Officer Peter C. Nelson. “Cost controls were effective during the first quarter of 2013, and we will continue to focus on managing expenses as we pursue fair and timely rate relief,” he said.
Key Stats (on next page)…