SJW Group - SJW STOCK NEWS

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.

SJW Group reported first-quarter 2021 financial results, showing a net income of $2.6 million, up from $2.4 million in Q1 2020. Diluted earnings per share increased to $0.09 from $0.08. Revenue fell to $114.8 million, down from $115.8 million, primarily due to $2.8 million in reduced customer usage and winter storm credits. Operating expenses increased to $101.7 million from $100.3 million. The company issued 1.2 million shares, raising $66.9 million. It declared a $0.34 quarterly dividend, maintaining a history of 77 years of dividend payments.

SJW Group (NYSE: SJW) will release its first quarter 2021 financial results on April 28, 2021, after market close. A webcast presentation will occur on April 29, 2021, at 8:00 a.m. (PT), featuring President Eric Thornburg and CFO James Lynch. SJW Group is the second-largest investor-owned water utility in the U.S., serving nearly 1.5 million customers. The company emphasizes strong operational expertise, technological innovation, and community engagement, aiming to sustain shareholder value. For more information, visit www.sjwgroup.com.

SJW Group’s Texas subsidiary, SJWTX Inc., has successfully acquired the Clear Water Estates Water System in Canyon Lake, Texas, for approximately $1 million, following approval from the Public Utilities Commission of Texas on March 1. This acquisition adds 230 customers and valuable water resources, enhancing SJWTX’s market position. The deal marks the first use of Texas’s new Fair Market Value legislation. Since 2006, SJWTX has completed 13 acquisitions, tripling its connections to about 20,000, serving approximately 59,000 residents.