SJW Group

NYSE:SJWUnited States

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• SJW Group Announces First Quarter 2024 Financial Results, from 1 hour ago by Business Wire

  1 hour ago by Business Wire
  Companies Mentioned: SJW

  SJW Group (NYSE: SJW) today reported financial results for the first quarter ended March 31, 2024.

  "We are pleased with our financial results for the quarter, which demonstrate the strength of our local water operations and the continued successful execution of our proven business strategy," stated SJW Group Chair, CEO, and President, Eric W. Thornburg. "In the first quarter, we secured approval of a general rate case in Maine and an infrastructure charge in Texas; invested $69 million in maintaining and improving our water supply and infrastructure across our national footprint, putting us on track to meet our 2024 capital expenditures goals; and implemented capital initiatives to drive sustainable operating efficiencies that benefit customers. Additionally, I'm proud to share that USA Today recognized Connecticut Water Company as a Top Workplace USA, making it one of only two water utilities to receive the honor. We intend to build upon this strong start to the year by continuing to invest in our trusted relationships with all key stakeholders, deliver on and advance our capital expenditures plan, and encourage the culture of service that underlies our success."

• *DJ SJW Group 1Q EPS 36c >SJW, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: SJW

• SJW Group Announces First Quarter 2024 Financial Results, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: SJW
  Income tax 2,911 5,187 Other 2,199 3,684 Accrued unbilled utility revenue 44,345 49,543 Assets held for sale 40,850 40,850 Prepaid expenses 12,822 11,110 Current regulatory assets 1,850 4,276 Other current assets 5,914 6,146 --------- ------------- Total current assets 178,082 198,389 --------- ------------- Other assets: Regulatory assets, less current portion 238,842 235,910 Investments 17,435 16,411 Postretirement benefit plans 34,244 33,794 Other intangible asset 28,386 28,386 Goodwill 640,311 640,311 Other 8,183 8,056 --------- ------------- Total other assets 967,401 962,868 --------- ------------- Total assets $4,367,512 4,345,067 ========= ============= SJW Group Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) March 31, December 31, 2024 2023 ---------- --------------- Capitalization and liabilities Capitalization: Stockholders' equity: Common stock, $0.001 par value; authorized 70,000,000 shares; issued and outstanding shares 32,201,216 on March 31, 2024 and 32,023,004 on December 31, 2023 $ 32 32 Additional paid-in capital 744,621 736,191 Retained earnings 494,249 495,383 Accumulated other comprehensive income 1,349 1,791 --------- ------------- Total stockholders' equity 1,240,251 1,233,397 Long-term debt, less current portion 1,550,298 1,526,699 --------- ------------- Total capitalization 2,790,549 2,760,096 --------- ------------- Current liabilities: Lines of credit 210,748 171,500 Current portion of long-term debt 9,002 48,975 Accrued groundwater extraction charges, purchased water and power 17,205 24,479 Accounts payable 34,397 46,121 Accrued interest 19,056 15,816 Accrued payroll 8,818 12,229 Current regulatory liabilities 2,480 3,059 Other current liabilities 21,554 20,795 --------- ------------- Total current liabilities 323,260 342,974 --------- ------------- Deferred income taxes 239,960 238,528 Advances for construction 141,431 146,582 Contributions in aid of construction 331,869 326,451 Postretirement benefit plans 47,323 46,836 Regulatory liabilities, less current portion 469,953 461,108 Other noncurrent liabilities 23,167 22,492 Commitments and contingencies ---------- --------------- Total capitalization and liabilities $4,367,512 4,345,067 ========= =============