California Water Service Group Reports Net Loss of $22.2 Million in Q1 2023

California Water Service Group,(CWT) a leading water utility company, has released its unaudited condensed consolidated financial statements for the first quarter of 2023. The financial statements reflect the company's performance during this period, highlighting both its net income/loss and revenue figures.

Net Income/Loss

During the three months ended March 31, 2023, California Water Service Group reported a net loss of $22.2 million. This marked a significant decline compared to the same period in the previous year when the company recorded a net income of $1.1 million. The decrease in net income can be attributed to various factors, including operating expenses and interest expenses.

Revenue