California Water Service Group Holding Q2 Profit Advances, Beats Estimates

(RTTNews) - California Water Service Group Holding (CWT) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $40.55 million, or $0.70 per share. This compares with $9.56 million, or $0.17 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.9% to $244.30 million from $194.04 million last year.

California Water Service Group Holding earnings at a glance (GAAP) :

-Earnings (Q2): $40.55 Mln. vs. $9.56 Mln. last year. -EPS (Q2): $0.70 vs. $0.17 last year. -Revenue (Q2): $244.30 Mln vs. $194.04 Mln last year.