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CONNECTICUT WATER SERVICE INC / CT

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2019 10-Q, filed Aug 8, 2019. Its latest SEC filing is a 15-12G from Oct 21, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Supplies water and wastewater service to households, businesses and public authorities in Connecticut and Maine, and provides contract water and sewer operations for utilities and other clients.

How Did They Make Money?

Households, businesses and public customers are charged regulated rates for ongoing water and wastewater service and for water delivered; customers are generally billed quarterly. Other income comes from contracted utility services, a service-line protection plan and property rentals.

revenue

Who Were Their Customers?

Retail water customers include households, businesses and public authorities, as well as fire-protection accounts. The company provides contracted services to water utilities and other clients, and rents property to third parties.

Did Revenues Turn Into Profits?

Yes. It kept 13 cents of every revenue dollar as net income in .

Operating income,
30% of revenue
▲ +6% vs ($35.1M, 31%)
Net income,
13% of revenue
▼ −33% vs ($25.1M, 22%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q2 FY2019, the three months to Jun 30, 2019
Revenue
▲ +2%
vs $31.5M in Q2 FY2018
Net income
▲ +22%
vs $4.7M in Q2 FY2018
  • Oct 9, 2019 SJW Group completed its merger with Connecticut Water Connecticut Water became a wholly owned SJW subsidiary, and trading of its shares on Nasdaq was suspended.

Grew. Revenue grew 23% in 4 years, from $101.5M in to $124.8M in , about 5% a year.

Expanded regulated water operations The latest report includes Heritage Village and Avon among the regulated water companies and also identifies wastewater customers; the older report described Connecticut Water and Maine Water as its regulated companies and discussed water service.

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