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Sep 30, 2020
SJW Group Q3 2020 Earnings Report
SJW Group's Q3 2020 financial performance was marked by increased net income and diluted earnings per share compared to the same period in 2019, driven by the merger with Connecticut Water Service, Inc. and cumulative water rate increases.
Key Takeaways
SJW Group reported a net income of $26.1 million and diluted earnings per share of $0.91 for the third quarter ended September 30, 2020. Operating revenue increased to $165.9 million, primarily due to the merger with Connecticut Water Service, Inc.
Net income for Q3 2020 reached $26.1 million, a significant increase from $9.5 million in Q3 2019.
Diluted earnings per share for Q3 2020 were $0.91, compared to $0.33 in Q3 2019.
Operating revenue for Q3 2020 increased to $165.9 million, up from $114.0 million in Q3 2019.
The CPUC's investigation into SJW Group's merger with Connecticut Water Service, Inc. was dismissed.
Forward Guidance
SJW Group reaffirms its 2020 earnings guidance of $1.95 to $2.05 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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