California Water Servs Gr Q2 2024 GAAP EPS $0.70 Beats $0.44 Estimate, Sales $244.30 Miss $216.25M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Water Service Group (NYSE:CWT) reported Q2 2024 GAAP EPS of $0.70, beating the analyst estimate of $0.44 by 59.09%. However, sales of $244.30 million missed the estimate of $216.25 million, representing a 100% decrease from $194.04 million in the same period last year.
August 01, 2024 | 1:01 pm
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California Water Service Group (NYSE:CWT) reported strong earnings with a GAAP EPS of $0.70, significantly beating the analyst estimate of $0.44. However, the company missed sales estimates, reporting $244.30 million against the expected $216.25 million. This mixed result could lead to short-term volatility in the stock price.
The significant beat on EPS is a positive indicator of profitability, but the miss on sales and the 100% decrease compared to the same period last year could raise concerns about revenue growth. This mixed performance is likely to cause short-term volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100