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Jun 30, 2020
SJW Group Q2 2020 Earnings Report
Net income and diluted earnings per share increased compared to the same period in 2019, driven by the merger with CTWS and increased customer usage.
Key Takeaways
SJW Group reported a net income of $19.7 million and diluted earnings per share of $0.69 for the second quarter ended June 30, 2020. The increase in revenue was primarily attributable to the merger with CTWS, increased customer usage, and cumulative water rate increases.
Net income for the quarter ended June 30, 2020, was $19.7 million, compared to $13.5 million for the same period in 2019.
Diluted earnings per share were $0.69 for the quarter ended June 30, 2020, compared to $0.47 for the same period in 2019.
Operating revenue was $147.2 million for the quarter ended June 30, 2020, compared to $103.0 million in 2019.
The Company is affirming its 2020 guidance of a range of $1.95 and $2.05 per diluted share.
Forward Guidance
The Company is affirming its 2020 guidance provided in the 2020 first quarter press release of a range of $1.95 and $2.05 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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