Welcome to our dedicated page for Sjw Group news (Ticker: SJW), a resource for investors and traders seeking the latest updates and insights on Sjw Group stock.
SJW Group (NYSE: SJW) provides essential water and wastewater services to communities across multiple U.S. states. This page serves as the definitive source for official company announcements, regulatory developments, and operational updates.
Investors and stakeholders will find timely press releases covering earnings reports, infrastructure investments, and compliance with water utility regulations. Our curated collection includes updates on rate case proceedings, sustainability initiatives, and strategic projects maintaining reliable service delivery.
All content is sourced directly from SJW Group’s verified communications, ensuring accurate tracking of water system expansions, operational milestones, and regulatory engagements. Bookmark this page for streamlined access to critical updates about one of California’s leading public water providers.
SJW Group (NASDAQ: SJW) announced that its subsidiary, San Jose Water Company, along with three other California water utilities, received approval from the California Public Utilities Commission (CPUC) to defer their 2025 Cost of Capital (COC) filings to May 1, 2026. The company maintains a 9.81% return on equity (10.01% before a 20 basis point reduction related to the Water Conservation Memorandum Account).
The Water Cost of Capital Mechanism (WCCM) will remain active until January 1, 2027, allowing return on equity adjustments based on the Moody's Aa Utility Bond Index movements. The postponement follows a previous one-year deferment granted in February 2024 and aims to reduce administrative costs for both parties.
SJW Group announced CPUC's approval of San Jose Water's General Rate Case, authorizing $450 million in water infrastructure investments over 2025-2027. The decision approves a settlement agreement between the Company and Public Advocates Office from August 19, 2024. The plan includes a 4% rate increase effective January 1, 2025, with subsequent years' rates based on authorized plant investments and CPI changes. The investment aims to enhance drinking water infrastructure, fire protection, and environmental conservation efforts. The CPUC denied two items outside the settlement regarding service charge calculation and full cost balancing account enhancement.
SJW Group (NASDAQ: SJW) has appointed Douwe Busschops as Chief Information Officer (CIO), effective immediately. Busschops will lead the integration and optimization of technology systems to enhance operational efficiency, customer experience, and business growth. He joins from Veolia North America, where he served as VP and CIO for the Municipal Water division, leading technology modernization initiatives and digital transformation strategies.
Prior to this, Busschops held senior positions at SUEZ Water North America, including VP of customer experience. He is a CIO 100 Award recipient and former chairman of the Customer Experience Committee for the National Association of Water Companies. Busschops holds an MS in International Business Studies from Maastricht University.
SJW Group (NASDAQ: SJW) has appointed Ann Kelly as its new chief accounting officer and principal accounting officer, effective November 12, 2024. Kelly, who previously served as CFO at American Electric Power (AEP), brings 15 years of utility accounting and finance experience. In her new role, she will oversee financial strategy, accounting operations, budgeting, cost management, and regulatory compliance. Kelly's prior experience includes leadership positions at UGI and Exelon Generation/PECO Energy. She holds a bachelor's degree in accounting from Ohio Wesleyan University and an MBA in finance from Villanova University.
SJW Group reported strong Q3 2024 financial results with GAAP diluted EPS of $1.17, up $0.04 year-over-year, and adjusted diluted EPS of $1.18. Operating revenue increased to $225.1 million from $204.8 million last year, driven by rate increases of $17.0 million. The company invested $252 million in infrastructure through Q3 2024, representing 76% of its 2024 capital budget. SJW Group reaffirmed its 2024 guidance range of $2.68 to $2.78 for adjusted diluted EPS and declared a $0.40 cash dividend per share.
SJW Group (NYSE: SJW) has announced the date for its 2024 third quarter financial results release. The company plans to report the results before the market opens on Monday, October 28, 2024. Following the release, a webcast presentation will be held at 11 a.m. PDT / 2 p.m. EDT on the same day.
The presentation will feature Eric W. Thornburg, president, CEO, and board chair, along with Andrew F. Walters, CFO and treasurer. They will review the quarterly results and provide insights. An accompanying slide presentation will be available on SJW Group's investor website prior to the call. Interested parties can access the webcast link at www.sjwgroup.com. The webcast archive will remain accessible until January 20, 2025.
SJW Group (NYSE: SJW) has been recognized as one of America's Greenest Companies 2025 by Newsweek and Plant-A Insights Group. The company is one of only two water companies and eight utilities on the list of 300 honored companies. SJW Group's commitment to sustainability across its operations in California, Texas, Connecticut, and Maine was highlighted.
Key sustainability achievements include:
- Reducing Scope 1 and 2 greenhouse gas emissions by 20% between 2019 and 2022, with a target of 50% reduction by 2030
- Implementing an advanced leak detection program, reducing non-revenue water to less than 10% in California
- Expanding recycled water use for irrigation and non-potable purposes
- Installing solar generation expected to produce 6,000 megawatt hours of electricity annually
The selection process involved rigorous evaluation of over 25 parameters in four main categories: greenhouse gas emissions, water usage, waste generation, and commitment and disclosures.
San Jose Water (SJW), a subsidiary of SJW Group (NYSE: SJW), has filed a settlement agreement for its 2025-2027 General Rate Case with the California Public Utilities Commission (CPUC). The agreement, reached with the Public Advocates Office, includes a $450 million investment in drinking water infrastructure over three years. Key points of the settlement:
1. Lower sales forecast to align actual and authorized usage
2. Greater revenue recovery through service charges
3. Approval to recover $15.8 million from balancing and memorandum accounts
Two policy issues remain to be litigated. The CPUC is expected to decide on the agreement in Q4 2024, with new rates effective January 1, 2025.
SJW Group reported strong Q2 2024 financial results, with GAAP diluted EPS of $0.64, up $0.06 year-over-year, and adjusted diluted EPS of $0.66, up $0.08. The company invested $158 million in infrastructure during H1 2024, about 48% of its 2024 capital budget. SJW reached an agreement on the California general rate case and updated 2024 GAAP guidance to $2.66-$2.76 diluted EPS. Operating revenue increased to $176.2 million, driven by rate increases and customer growth. The company plans to invest over $1.6 billion in capital over the next five years, including $230 million for PFAS treatment. SJW also secured regulatory approvals in California and Connecticut, and expanded customer assistance programs.
SJW Group (NYSE: SJW) has announced the schedule for releasing its 2024 second quarter financial results. The company will report its results after market close on Wednesday, July 24, 2024. A webcast presentation reviewing the results will be held on Thursday, July 25, 2024, at 11 a.m. PDT / 2 p.m. EDT. The presentation will be led by Eric W. Thornburg, president, CEO, and board chair, along with Andrew F. Walters, CFO and treasurer. An accompanying slide presentation will be available on SJW Group's investor website before the call. Interested parties can access the webcast at www.sjwgroup.com, and an archive will be available until October 21, 2024.
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