SJW Corp ( (SJW) ) has released its Q4 earnings. Here is a breakdown of the information SJW Corp presented to its investors.
SJW Group is a leading investor-owned water and wastewater utility company in the United States, providing essential water services to 1.6 million people across several states, including California, Connecticut, Maine, and Texas. The company is known for its commitment to operational excellence and sustainable practices.
SJW Group reported strong financial results for 2024, with a reported diluted EPS of $2.87 and an adjusted diluted EPS of $2.95, both exceeding the company’s guidance. The company also announced a five-year capital plan of $2.0 billion to enhance infrastructure and address water supply challenges.
Key financial highlights include a 12% increase in operating revenue to $748.4 million, driven by rate increases and higher customer usage. Net income rose by 11% to $94.0 million, while operating expenses increased by 11% to $577.9 million due to higher water production and administrative costs. The company also invested $353 million in infrastructure and water supply in 2024, surpassing its capital expenditure guidance.
SJW Group’s strategic initiatives include regulatory approvals for rate increases and infrastructure investments in various states, aimed at improving service quality and operational efficiency. The company has been recognized for its responsible corporate practices and community engagement efforts.
Looking ahead, SJW Group has set a 2025 adjusted diluted EPS guidance of $2.90 to $3.00 and aims for a long-term EPS growth of 5% to 7% through 2029. The company remains focused on leveraging its scale and expertise to deliver sustainable value to its stakeholders.