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.
This page provides a historical and ongoing news archive for SJW, the former Nasdaq ticker for SJW Group, which has since rebranded as H2O America and now trades under the symbol HTO. Company news releases describe a national investor-owned network of local water and wastewater utilities focused on delivering clean, high-quality water and investing in critical infrastructure.
News items associated with the SJW symbol and its successor HTO include corporate rebranding announcements, leadership transitions, capital investment plans, regulatory decisions and financial results. For example, the company announced its name change to H2O America and new ticker symbol HTO, detailed multi-year capital plans for water and wastewater infrastructure, and reported annual and quarterly earnings with both GAAP and non-GAAP measures.
Sector-specific updates are common, such as general rate case decisions in California, infrastructure and conservation adjustments in Connecticut, water infrastructure charges in Maine, and system infrastructure charges in Texas. Releases also highlight dividend declarations and the company’s long history of consecutive dividend payments and annual dividend increases.
More recent communications under the H2O America name describe initiatives like proposed acquisitions of additional water and sewer utility assets in Texas and regulatory approvals for unified rate structures at subsidiaries such as The Maine Water Company. Together, these items illustrate how the company manages its regulated water and wastewater operations, interacts with state regulators and pursues growth within the utilities sector.
Investors and observers can use this news feed to review the company’s historical announcements under the SJW ticker and to understand the developments that shaped its evolution into H2O America (HTO), including strategy, regulation, capital spending and governance changes.
San Jose Water, a subsidiary of SJW Group (NYSE: SJW), received approval from the California Public Utilities Commission for its General Rate Case 2022-2024. This decision allows a revenue increase of approximately $25.1 million (6.0%) effective November 1, 2022. The company also secured a $350 million capital budget for utility investments and additional revenue recovery measures. The decision recognizes San Jose Water's commitment to environmental and social justice initiatives, including greenhouse gas reduction and leading presence in ESJ communities.
SJW Group (NYSE: SJW) appointed Bruce A. Hauk as chief corporate development & strategy officer, effective August 22, 2022. Hauk, a seasoned executive with extensive experience in the water utilities sector, will lead the company's growth and acquisition strategy. Under his guidance, SJW aims to build on its record of over 60% customer growth and doubling its utility plant in the past five years. He has previously held key roles at NextEra Water and American Water, enhancing customer relations and satisfaction.
SJW Group reported quarterly diluted earnings of $0.38 per share for Q2 2022, a decline from $0.69 in Q2 2021. Net income was $11.6 million on revenues of $149.0 million, down from $20.8 million and $152.2 million respectively in the prior year due to regulatory changes and customer usage decline. The company reaffirms its 2022 earnings guidance of $2.30 to $2.40 per diluted share and declared a dividend of $0.36 per share. Revenue shifts and delays in rate case decisions may impact future results.
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SJW Group (NYSE: SJW) will report its Q2 2022 financial results on July 27, 2022. A webcast presentation featuring CEO Eric Thornburg, CAO James P. Lynch, and CFO Andrew F. Walters will follow on July 28 at 7 a.m. PT. SJW Group serves approximately 1.5 million customers across several states, focusing on quality water service and community engagement. The company emphasizes its commitment to operational excellence and sustainability in providing essential services.
Summary not available.
San Jose Water (SJW) announced the California Public Utilities Commission (CPUC) has approved its investment of approximately $100 million for a four-year deployment of Advanced Metering Infrastructure (AMI) or smart meters. This initiative aims to enhance customer service, reduce greenhouse gas emissions, and improve leak detection and water management. Once deployed, customers will receive near real-time water usage data, promoting efficient consumption and supporting environmental goals. The expected reduction in carbon footprint is 103 tons of CO2e annually.
The Maine Water Company announced the retirement of President Richard Knowlton, effective June 17, 2022, after a notable 29-year career. Mark Vannoy, currently vice president, will succeed him. Knowlton's leadership has significantly expanded the company's service area from 40,000 to 80,000 customers and overseen crucial infrastructure projects, including a $60 million Saco River Drinking Water Resource Center. This transition aims to ensure continued high-quality water service, benefiting the communities served.
SJW Group reported a net income of $3.7 million for Q1 2022, up from $2.6 million in 2021. Diluted EPS was $0.12, reflecting growth from $0.09 in the previous year. Operating revenue increased to $124.3 million, mainly due to $5.2 million in water rate hikes and new customer additions. Operating expenses rose to $107.7 million, influenced by higher water production costs and depreciation. The company anticipates decisions on California regulatory proceedings in Q3 2022 that could impact future revenues positively.
SJW Group (NYSE: SJW) will announce its first quarter 2022 financial results on April 27, 2022, after market close. A webcast presentation will follow on April 28, 2022, at 10 a.m. PT (1 p.m. ET), featuring CEO Eric Thornburg, CFO Andrew F. Walters, and CAO James P. Lynch. As a leading provider of water services to nearly 1.5 million people in the U.S., SJW Group is committed to sustainable operations and community engagement. Interested parties can view the webcast and presentation on their website, with an archive available until July 27, 2022.