Loading...
•
Mar 31, 2020
SJW Group Q1 2020 Earnings Report
Net income and diluted earnings per share decreased compared to the same period in 2019, impacted by merger-related expenses and COVID-19 related reserves.
Key Takeaways
SJW Group reported a decrease in net income to $2.4 million and diluted earnings per share to $0.08 for the quarter ended March 31, 2020, compared to $5.9 million and $0.21, respectively, for the same period in 2019. The results were impacted by merger-related expenses and COVID-19 related reserves. Operating revenue increased to $115.8 million from $77.7 million in 2019.
Net income for the quarter ended March 31, 2020, was $2.4 million, compared to $5.9 million for the same period in 2019.
Diluted earnings per share were $0.08, which included $0.15 per share from ongoing operations offset by non-recurring expenses.
Operating revenue increased by $38.1 million, primarily due to the merger with CTWS and increased customer usage.
Updated guidance range from between $2.25 and $2.35 per diluted share to between $1.95 and $2.05 per diluted share.
Forward Guidance
The Company is updating its guidance range from between $2.25 and $2.35 per diluted share to between $1.95 and $2.05 per diluted share to reflect this change.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...