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SJW Group, now H2O America, reports developments tied to its role as a national investor-owned water and wastewater utility. Company news commonly covers regulated water operations, rate structures, infrastructure investment, customer assistance programs, dividends, and financial results across local utility subsidiaries such as San Jose Water, Connecticut Water, and Maine Water.
Updates also include public-utility regulatory decisions, leadership and finance appointments, operational efficiency initiatives, and the completed corporate rebrand from SJW Group to H2O America with a new Nasdaq ticker. Subsidiary news highlights drinking-water collection, treatment, and distribution systems serving homes, businesses, and fire-protection customers in regulated service territories.
SJW Group (NYSE: SJW), a leading investor-owned water and wastewater utility in the U.S., will present at the Bank of America Water Conference on Dec. 6, 2021, at 10:30 a.m. ET. CEO Eric Thornburg will discuss the company's growth strategy, investment opportunities, and industry trends. The presentation will be available live and as a replay on SJW's website the following day until March 6, 2022. SJW Group serves nearly 1.5 million customers, focusing on sustainable practices and community engagement.
SJW Group reported Q3 2021 net income of $19.1 million, down from $26.1 million a year prior, with diluted EPS of $0.64 compared to $0.91. Operating revenue increased to $166.9 million, attributed mainly to water rate hikes and regulatory mechanisms, though customer usage fell by $12.9 million. Operating expenses rose to $133.1 million, reflecting higher production costs and regulatory fees. Year-to-date, net income was $42.5 million compared to $48.2 million in 2020. The company maintains its earnings guidance of $1.85 to $2.05 per diluted share and declared a dividend of $0.34 per share.
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SJW Group (NYSE: SJW) will release its third quarter 2021 financial results after market close on October 28, 2021. A webcast presentation will follow on October 29, 2021, at 10:00 a.m. PT. SJW Group, the second-largest investor-owned pure-play water utility in the U.S., serves nearly 1.5 million people through its various subsidiaries. The company focuses on sustainable value for shareholders, maintaining a commitment to operational excellence and community engagement.
SJW Group (NYSE: SJW), the second-largest investor-owned pure-play water and wastewater utility in the U.S., will present at the Janney Virtual Water Utilities Conference on Sept. 14, 2021, at 1:45 p.m. ET. Eric Thornburg, chairman and CEO, will engage in a fireside chat with analyst Michael Gaugler and participate in one-on-one meetings with institutional analysts and investors. The fireside chat will be available for real-time viewing, with replays accessible via SJW Group's website for 90 days.
SJW Group CEO Eric Thornburg participated in a White House meeting focused on enhancing cybersecurity for utility providers, addressing the nation's public drinking water safety. The meeting included President Biden and leaders from major corporations like Apple and Microsoft. Thornburg emphasized the importance of collaboration between public and private sectors to mitigate cyber threats, aiming to safeguard vital water services across diverse operational regions, including Silicon Valley and Texas. SJW Group serves nearly 1.5 million customers and is committed to investing in sustainable value.
SJW Group (NYSE: SJW) reported a net income of $20.8 million for Q2 2021, up from $19.7 million in Q2 2020. Diluted EPS remained steady at $0.69, with $0.60 from ongoing operations. Revenue rose to $152.2 million, driven by water rate increases and new customer growth. However, operating expenses increased to $119.6 million, reflecting higher water production and administrative costs. Year-to-date net income reached $23.4 million, up from $22.1 million, with reaffirmed earnings guidance of $1.85 to $2.05 per diluted share. A quarterly dividend of $0.34 was declared.
SJW Group (NYSE: SJW) will release its Q2 2021 financial results on July 29, 2021, after market close. A webcast review, featuring CEO Eric Thornburg and CFO James Lynch, is scheduled for July 30, 2021, at 10:00 a.m. PT (1:00 p.m. ET). The company's strong position as the second-largest investor-owned water utility in the U.S. serves nearly 1.5 million people. For further details, visit www.sjwgroup.com. Forward-looking statements in the release highlight potential risks affecting business performance.
SJW Group's Texas subsidiary, SJWTX Inc., plans to acquire Kendall West Utility and Bandera East Utility in Texas, pending approval from the Public Utilities Commission of Texas (PUCT). This acquisition will serve approximately 4,000 people and expand SJWTX's service area. The merger aims to enhance operational efficiency and leverage resources for better service delivery. If approved, it will mark SJWTX's 14th acquisition since 2006, growing its customer base from 6,500 to 21,500 connections and serving about 65,000 people across seven counties in Texas.
San Jose Water (SJW) announced the appointment of Willie Brown as Vice President, General Counsel, and Corporate Secretary, effective June 1. Previously Corporate Secretary and Assistant General Counsel, Brown joined the company in 2008. He will oversee corporate governance and legal matters, among other responsibilities. Eric W. Thornburg, CEO of SJW Group, praised Brown's commitment to governance, resulting in a '1' rating from ISS for the company. Brown holds a Juris Doctorate from Georgetown University and has experience in venture capital and mergers and acquisitions.