SJW Group - SJW STOCK NEWS

SJW Group (NYSE: SJW) has announced the promotion of Stephanie Orosco to Chief Human Resources Officer, effective November 4, 2022. Previously the Vice President of HR at San Jose Water, Orosco will lead HR strategy focusing on areas such as succession planning and talent management. SJW Group, a leading water utility serving about 1.5 million people, emphasizes employee welfare and organizational performance. Executive statements highlight Orosco's dedication to company culture and talent retention.

SJW Group has promoted Kristen A. Johnson to Senior Vice President and Chief Administrative Officer, a role she has held since 2019. Johnson will continue leading various strategic initiatives across information technology, human resources, and enterprise risk teams. Eric W. Thornburg, SJW Group Chair, emphasized Johnson's significant impact on the organization. Johnson also serves at Connecticut Water Company, demonstrating her leadership capabilities. SJW Group is a major player in the water utility industry, serving approximately 1.5 million customers across multiple states.

Connecticut Water Service, Inc. (a subsidiary of SJW Group) announces the retirement of Maureen P. Westbrook, president of CTWS, effective Dec. 31, 2022. Craig J. Patla, vice president of service delivery, will succeed her from Jan. 1, 2023. Westbrook has been instrumental in the company's success since joining in 1988 and leading since 2019. Patla has extensive experience in operational roles and has been with the company since 1990. The leadership transition aims to maintain the company's commitment to service and environmental stewardship.

SJW Group (NYSE: SJW) has appointed Marisa Joss as Deputy General Counsel and Assistant Corporate Secretary. In this role, she will provide legal and risk management support to SJW and its subsidiaries. Marisa brings substantial experience from Consolidated Edison and Eleusis, along with strong governance and compliance expertise. This appointment aims to align with SJW’s values and enhance its leadership team with her industry knowledge. SJW Group continues to focus on delivering high-quality water services to about 1.5 million people across the U.S.

SJW Group reported Q3 2022 diluted earnings of $0.82 per share, up from $0.64 in Q3 2021, with operating revenue of $176.0 million. The results were affected by regulatory changes and delays. The company anticipates an additional $25.1 million in revenues thanks to an approved California rate case. SJW reaffirmed its 2022 earnings guidance of $2.30 to $2.40 per diluted share, alongside approximately $223 million in regulated infrastructure investments. A dividend of $0.36 per share was also declared.

SJW Group (NYSE: SJW) will announce its third-quarter 2022 financial results on October 27, 2022, after market close. A webcast presentation featuring CEO Eric Thornburg and CFO Andrew F. Walters will be held on October 28, 2022, at 10 a.m. PT / 1 p.m. ET. Investors can access the webcast and materials via www.sjwgroup.com, with an archive available until January 23, 2023. SJW Group provides essential water services to approximately 1.5 million people across several states.

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.