Monday, Southwest Water Co. (SWWC) reported a loss for the second quarter compared with a profit incurred last year, hurt by higher losses from discontinued operations and increased operating expenses. However, revenues rose 4% owing to higher sales in the utility business segment.
The Los Angeles, California-based water utilities services company recorded a net loss available to common shareholders of $793 thousands or $0.03 per share, compared with a profit of $2.22 million or $0.09 per share in the same period last year.
Income from continuing operations declined to $891 thousands from $2.42 million last year.
Second quarter net loss includes a loss from discontinued operations of $1.7 million or $0.07 per share. Discontinued operations is related to a wholesale water and wastewater business that the company intends to divest.
Quarterly revenues rose 4% to $57.07 million from $54.90 million in the prior-year quarter, driven by revenues from the utility business which were up 17% to $27.5 million. Conversely, services business revenues were $35.2 million, down from $37.5 million in prior-year quarter.
For the first-half, net loss attributable to shareholders was $1.4 million or $0.06 per share, compared with net income of $2.83 million or $0.12 per share in the corresponding period last year. Total revenues were higher at $107.83 million over $102.77 million last year.
SWWC is currently trading at $11.51, up 0.26%, on an average volume of 116,902 shares on the Nasdaq.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.