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Mar 31, 2024
SJW Group Q1 2024 Earnings Report
SJW Group's financial performance remained stable with a slight decrease in EPS, driven by rate increases and infrastructure investments.
Key Takeaways
SJW Group reported a slight increase in net income and a small decrease in diluted EPS for the first quarter of 2024. The company invested $69 million in infrastructure and reaffirmed its 2024 earnings guidance.
Net income increased by 1% to $11.7 million.
Diluted EPS decreased slightly by $0.01 to $0.36.
Operating revenue increased to $149.4 million, driven by rate increases and higher customer usage.
Invested $69 million in infrastructure.
Revenue by Geographic Location
Forward Guidance
SJW Group reaffirmed its full-year 2024 guidance, including net income per diluted common share of $2.68 to $2.78 and regulated infrastructure investments of approximately $332 million. They also reiterated their non-linear long-term diluted EPS growth of 5% to 7%, anchored off 2022's diluted EPS of $2.43.
Positive Outlook
- Net income per diluted common share of $2.68 to $2.78.
- Regulated infrastructure investments of approximately $332 million
- Non-linear long-term diluted EPS growth of 5% to 7%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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