California Water Service Group (NYSE:CWT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
California Water Service Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 200% to $0.12 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 17.98% to $121.53 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: California Water Service Group reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.09. It beat the average revenue estimate of $117.42 million.
Quoting Management: “Our 2012 results were positively impacted by prudent financial and operational management, as increases in wages, health care costs, and post retirement benefits (other than pensions) were mitigated by decreases in maintenance costs, interest expense, and costs for outside services. We also benefitted from a federal tax rule change and from a mark-to-market accounting adjustment to reflect an increase in the value of long-term assets held by the Company’s non-qualified retirement plans,” said Chairman and Chief Executive Officer Peter C. Nelson.
Key Stats (on next page)…