California Water Service Group (NYSE: CWT) is a utility holding company primarily engaged in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses. The company operates through several wholly-owned subsidiaries, including California Water Service (Cal Water), Washington Water Service, New Mexico Water Service, Hawaii Water Service, and Texas Water Service. California is its core market, generating the majority of its revenue and serving over 100 communities across the state. The company also provides wastewater collection and treatment services, including water recycling, which is increasingly important in drought-prone regions. In addition to its regulated utility operations, the group offers non-regulated services such as utility management, billing, meter reading, and water quality testing for municipalities and private companies. CWT's business model is heavily reliant on capital investments in infrastructure modernization and regulatory rate cases to drive revenue growth and maintain its extensive network of water mains, tanks, and treatment plants.
