Thank prior second to you, our Eric. XXXX morning released market results. opening, operating quarter the This we
operating XXXX XXXX results XXXX rate we comparisons As affected first in the quarter-over-quarter Water and case quarter, in between and reflect the are XXXX delay to general proceeding. Jose by San noted Company’s
revenue This rate in case general the As reminder, the increase a in from recognizing the X, The was of quarter comparisons rate through Public the agreement authorized while delay fourth the case in increase back Commission revenue authorized approved January Jose settlement San Water the in revenue the affects XXXX. retroactive to is general Utilities XXXX. quarter-over-quarter XXXX. recorded California
cool mandatory in quarter the second and the for well California. emergency results as drought season by conservation and Operating were wet of end unusually affected declared the as
service a condition area exceptional to principally usage Monitor in most and in water extreme to Texas Stage X has Stage Texas, X. small area as U.S due and classified drought Maine reduce and experienced in our The drought. is portion is in have Drought service We of weather, our
quarter detail do declared water in will April Water were the in mechanisms greater drought revenue regulatory for discuss any the and include I from mechanisms protection no of as is place usage not San the Jose this benefit shortly. afforded XX. during California, In beyond that XX, emergency. these longer April Results
per quarter, to million, X% quarterly XX% million, second $X.XX. we earnings $XX.X of the This reflecting $X.XX and of net increase $XX.X of reported diluted increase, per In $XXX share XXXX income revenue or income revenue earnings $XXX.X of million compares of reflecting million, reflecting diluted a or XX% share and a a net of increase.
share, an break the primarily related to which for see, diluted in related you reserves to filings down and a as was $X.XX driven Partially QX shortly. quarter-over-quarter usage offsetting $X.XX lower decrease release and was quarter-over-quarter to I water can the $X.XX interest mechanisms. for costs expense. increase partial $X.XX to XXXX as you of higher water in by share will regulatory earnings due rate per increase $X.XX supply As and tax per related decrease $X.XX income well
general rate conservation authorized Maine The total Now breakdown the increase rate water were compared approvals after infrastructure million increase of in includes revenue effective adjustment quarter revenue XXXX second The approved XXXX. driven increase was Connecticut XXXX. in $XX.X in the increase, a quarter case of of QX that of rate XXXX in The five XXXX. in cumulative revenue QX the the was California to portion the and second XXXX case in QX and of by filings. general that mostly that a was benefit and
to quarter and have lower was April California the decrease XX. first in of due $X ended drought conservation the place in improved, water usage. in The mandatory were revenue vastly that conditions drought Since partially increase XXXX million offset by declaration
are to We see affected usage will waiting longer these by how still term be changes.
increase million the purchase increase related per in lower groundwater average to Maine increase costs customer for well. by water to the offsetting effects $X.X when As The compared expense on as production a in million second XXXX. in noted of costs quarter was increase Texas largely extraction of was supply in and driven slight are and we water There charges. production was $X.X decrease expenses usage. Partially weather earlier, seeing unit usage water
maintenance primarily and amortization of diluted expenses to increase This and net X% the of Year-to-date million, year diluted in the expenses other and $XX.X per reduced of The million other to factors. year-to-date net X% reflecting compares of was lower reported a by share than million, of reflecting by depreciation reflecting other taxes and XXXX increase. an partially was increase, increase or operating taxes. total share of $XXX.X $XXX.X The XX% increase $XX.X $X.XX. revenue expenses prior income or earnings driven income revenue and compared XX% income to per we due a million, earnings $X.XX offset
in the rate repair that delay were $X.XX to the $X.XX partial for earnings including and of income As related release of second and you a XXXX. can SJWC's case. XXXX, mechanisms approved XXXX regulatory one-time reserves attributed and share see, in XXXX of primarily rate per driven California $X.XX tax per tax, quarter from Maine after share $X.XX true-ups occurred year-to-date in general diluted by increase of was filings that to the of
Partially $X.XX of of offsetting property costs, a on a XXXX nonutility and increase $X.XX. sale supply non-recurring lower and the increase was in a decrease year-to-date gain $X.XX usage water to water due
acquisitions close and X in third to Turning at million first for been corporate million for the is purposes, amount months additional raised program. in raised has $XX our to the quarter. expected financing was $XX market our through general activity. the the
same plant operating the credit and of The million The $XX At and for during bank borrowing of lines the of rate was credit of approximately average utility financing end X.XX%. million drawn average quarter, X.XX%. for on in $XXX rate first X addition borrowing short-term the available period months we the XXXX our was activities. advances line had the of approximately
for first due months approximately the The rate ended negative and The position Capital partial X water release The Cost the XXXX San XXXX. Class effective a effective reserved. tax A consolidated primarily CPUC Other was Jose of XXXX lower decision Water tax a uncertain rate final years the and state June tax issued through proceeding to XXXX for XX%, and XX, for utilities income of respectively. X% were and
previously X.XX% WCCM. structure debt. and rate the perspective of which or return is Cost It return on X.X% overall XX.XX% equity, a is Mechanism, XX.XX% equity. constructive The an based authorized Capital The maintains and on the of increase X.XX% established Water capital of of decision
Aa The three XX and basis compared index period case average X September when in points two bond year October between WCCM and Moody's than the and more the varies same by the is triggered rate years XXX to when utility rate the prior the three for year cycle.
for For required added -- to rate surpassing the ROE. period index increased of points then which XX% XXXX, the be allow the a by ended to XX, XX change basis points, September allows WCCM basis XXX trigger, or the the
and implement new final company San decision, WCCM letter July on of that advice letter file of the equity XX, a reflect a new XXXX to the X.XX% on advice to XXX X.XX%, of filing. trigger July X.XX%. return Jose Water return XX, an of overall cost On adjusted XX XXXX. of effective June with In separate the number rate expects to be accordance filed debt XXXX, WCCM rates as will the of rates the
the on April drought conservation ended As XX. mentioned declared California earlier, mandatory and emergency in
As longer Expense WCMA, of Water Memorandum of Account place offset water were that Conservation the effects or lower the Water and mandatory Jose the or due Water a no usage in Memorandum Conservation result, San conservation. Account to to afforded WCEMA the protections the revenue
been WCMA restored. and place WCEMA point reduction basis temporary since were while in XX The in has that effect the was
water way likelihood to in our use effort indicates declared as reduction emergency Water droughts. when the an goal water lifted wholesaler, water conservation a of make life Valley drought voluntary However, change climate XX% future was of the a
reduction usage there in end not water the requesting and WCEMA. with reduced this it has filing. and based the use voluntary has period. usage unclear continuation on been a decision issued the quickly On of of will In The fully recover goal, the April how with WCMA mandatory on our water conservation the is meantime, XX, we California, water and filed CPUC CPUC
lower mentioned As in usage wet and to second cool contributed weather the quarter. earlier, I uncharacteristically has
for factor of and We will the continue XXXX. weather California be to rest expect a usage in
we as Jose usage are and typically well drought. in for prepared recovers months, months remaining the usage hotter For the San following peak area
spring benefits to it is because owned increased rainy is in water priced Our production plentiful California The from supplies produce into precipitation wholesaler. of summer. our best less the best been Supply higher purchasing it the cost early our the water and from water years Water that because customers than -- surface season, continued has during
in revenues, a file to quarter annualized general decision WICA be of and as fourth expected effective authorized QX. case also would Public rate Connecticut for a is In covers increase we $X.X in in water conservation the and million completed Connecticut, with application Authority XX.X filed Regulatory in increase and application infrastructure adjustment. This the generate an we the projects Connecticut planning if is A any X.XX% Utilities approved filed. million XXXX. Water in
temporary the In the Maine, operating of of center $X.X the related a Biddeford last X.X division. X. of is it annualized to The amount water would And Saco retroactive went expenses the July was Public application revenues last increased total request temporary Office requested The Saco if the rate we filed to to and million costs for and that between Water requested, River summer. Advocate. in drinking in the portion request borrowing service rate annualized related filing recover the case the a in resource of to general of be Maine that increase uncontested as increase million filed March approved,
$X.X annualized it expected surcharge water $X.X requested, is infrastructure million third whether WISC. the with an Utilities XXXX. would quarter The decision through recover Camden expected division If of Maine has the will application quarter requested or Public as XXXX. $XXX,XXX in filed completed of increase in final revenue. and Water temporary Rockland a million the MPUC also to investments in A rate Maine is granted. decision the Commission is on the generate determine increase infrastructure approved the A fourth
and water development rate in convenience order are quarter. later fourth we the XXX doctrine Utilities that Texas applied of final expected of two time residential expected our rate planned closing Texas year. Public KT and in other certificate XX, also this in PUCT's The for fair transfers connection the system. cases of of Water General is approved quarter request on Water a treatment. XXXX. Commission On at approval third is The necessity value of the acquisition April to market that divisions expect our And
acquiring area XX serves to Water, of for to the asked Texas acres approved water the System Water which acres doctrine of customers the treatment, XXX sewer Texas area applied residential no service the current were to PUCT system application part Texas service and also PUCT the Water rates water for the be Ridge Antonio of customers transfer filed Water in the with allows XXX an The April with Elm San acquire time transaction. in that of filed transferred the utilities acquisition. of Comal has from application rate as the County. to
We immediate application for increase avoiding projected allow would Water's the Improvement XXXX. $X.X certain case. is SIC to continue SIC The XXXXs or and the made the The to is by thereby to expected advance System add Texas. utility base, approval. need plant a for X in our rate PUCT's additions of revenue million general revenue QX by Texas Charge Decision SIC within year end of Texas since increasing water rate
Stage drought As has conditions. mentioned earlier, X our service in X Stage and area systems
area. area and connection securing has support X Texas acquisitions, resources through XX% are XXXX. since Organic a We we in this its service intend in XX% to momentum Stage used And continue prudent and growth. water Water to X reduction that Stage quadrupled growth the a reduction the targeting water in
it XX,XXX water the the between in more serves the five of Water, fastest Austin Bureau. area connections Texas in connections three the to and counties it currently San Census XXX according and serves growing growing Antonio, than U.S and rapidly wastewater
mechanism. $X.XX our treatment our we EPA's Through $X.X per Contaminant investment guidance are million billion, includes PFOSS We XX in through proposed based Maximum the the capital equity to reaffirming estimated on XXXX share, of at $X.XX of our issued outlook diluted Level. which X-year June, market and
XXXX in The XX acquisitions. additional XX As fund to months. is in stated acquisitions close issue million to we plan XX expected million are raised the excluding in the coming to their guidance
the rate. XXXX other expenses. costs, of XXXX, conservation charges recovery as mandatory the impacting well in labor of case in the California, interest the and Factors significant changes in guidance costs, in mechanisms includes with rate expected no decoupling the inflation's tax Usage end decisions and continued the -- associated affecting temporary as end effective
nonlinear X% our off per to earnings growth long-term be XXXX We share of of case EPS of rate because rate reaffirm anticipate also diluted We X% of cycles. $X.XX. our will anchored
turn With Eric. back over will that I call Eric. the to
