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CALIFORNIA WATER SERVICE GROUP

(CWT)
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California Water Service : Cal Water Completes Water Infrastructure Upgrade to Support Stockton Customers

01/20/2021 | 09:42am EDT
Cal Water Completes Water Infrastructure Upgrade to Support Stockton Customers
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January 19, 2021 at 3:45 PM PST

STOCKTON, Calif. - California Water Service (Cal Water) has completed a multiphase infrastructure project in the Magnolia area of Stockton that will keep critical water infrastructure in the area safe and reliable. The upgrade will ensure customers, firefighters, and nearby medical facilities continue to have the water they need for their everyday and emergency needs.

The most recent phase of the project included the installation of 2,500 feet of new 12-inch, ductile iron water main and eight new fire hydrants on North California Street, between East Harding Way and Flora Street. Crews also installed upstream and downstream valves on the service connections for nearby medical facilities, which will minimize any water service interruptions due to events that could occur elsewhere along the water main. Since last January, crews have laid 8,000 feet of new water main as part of the overall project.

'This important infrastructure upgrade will enable us to continue to deliver a reliable supply of safe, high-quality water to customers, businesses, and medical facilities in the area, including San Joaquin County buildings, a major hospital, and schools. Additionally, the upgrade will ensure first responders have the water they need to protect the community in an emergency,' said District Manager Jeremiah Mecham. 'As essential service workers, our crews are still working tirelessly every day to deliver quality, service, and value to Stockton residents and businesses.'

Cal Water serves about 172,700 people through 44,400 service connections in Stockton and about 2 million people through 489,600 service connections in California. The utility has provided water service in the area since 1927. Additional information may be obtained online at www.calwater.com.

Disclaimer

California Water Service Group published this content on 19 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2021 14:41:04 UTC


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Financials (USD)
Sales 2021 804 M - -
Net income 2021 90,2 M - -
Net Debt 2021 1 174 M - -
P/E ratio 2021 33,6x
Yield 2021 1,51%
Capitalization 2 987 M 2 987 M -
EV / Sales 2021 5,17x
EV / Sales 2022 5,09x
Nbr of Employees 1 192
Free-Float 97,2%
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Average target price 53,80 $
Last Close Price 59,33 $
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Martin A. Kropelnicki President, Chief Executive Officer & Director
Thomas F. Smegal Chief Financial Officer, Treasurer & VP
Peter C. Nelson Non-Executive Chairman
Michael B. Luu Chief Risk Officer & VP-Information Technology
Michael S. Mares Vice President-Operations
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