California Water Service Group (NYSE:CWT) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET

Company Participants

David Healey - Vice President Chief Financial Officer & Treasurer

Greg Milleman - Vice President, Rates and Regulatory Affairs Officer

Marty Kropelnicki - Chairman & Chief Executive Officer

Conference Call Participants

Davis Sunderland - Baird

Jonathan Reeder - Wells Fargo

Agnieszka Storozynski - Seaport

Operator

Good morning. My name is Christa, and I'll be your conference operator today. At this time, I would like to welcome everyone to the California Water Service Group Third Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. I will now turn the conference over to David Healey, Vice President Chief Financial Officer and Treasurer. You may begin your conference.

David Healey

Thank you, Christa. Welcome everyone to the 2023 third quarter results call for California Water Service Group. With me today is Marty Kropelnicki, our Chairman and CEO; and Greg Milleman, our Vice President, Rates and Regulatory Affairs Officer. Replay dial-in information for this call can be found in our quarterly results release, which was issued earlier today. The replay will be available until December 25, 2023.

As a reminder, before we begin the company has a slide deck to accompany the earnings call this quarter. The slide deck was furnished with the Form 8-K this morning and is also available at the company's website at www.calwatergroup.com.

Before looking at this quarter's results, we'd like to take a few moments to cover forward-looking statements. During the course of the call, the company may make certain forward-looking statements. Because these statements deal with future events, they are subject to various risks and uncertainties and actual results could differ materially from the company's current expectations.

Because of this the company strongly advises current shareholders, as well as interested parties to carefully read and understand the company's disclosures on risks and uncertainties found in our Form 10-K Form, 10-Q, press releases and other reports filed from time to time with the Securities and Exchange Commission.

I'm going to start by turning to slide 4, which states our values and priorities. Moving on to slide 5 third quarter financial highlights. As discussed last quarter third quarter and year-to-date results primarily reflect the adverse impact of the delayed proposed decisions from the California Public Utilities Commission or CPUC on Cal Water's pending 2021 general rate case to set new rates, rate design and regulatory mechanisms. Once approved by the CPUC, the general rate case accumulative adjustment will be retroactive to January 1, 2023.