Declared Dividend • May 01
First quarter dividend of US$0.44 announced Shareholders will receive a dividend of US$0.44. Ex-date: 11th May 2026 Payment date: 1st June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 29
H2O America Declares Quarterly Cash Dividend, Payable on June 1, 2026 On April 27, 2026, the Board of Directors of H2O America declared a quarterly cash dividend on common stock of $0.44 per share, payable on June 1, 2026, to shareholders of record at the close of business on May 11, 2026. The 2026 annualized dividend is expected to be $1.76 per share compared with $1.68 per share in 2025. Reported Earnings • Apr 29
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: EPS: US$0.50 (up from US$0.49 in 1Q 2025). Revenue: US$183.3m (up 9.4% from 1Q 2025). Net income: US$19.0m (up 15% from 1Q 2025). Profit margin: 10% (in line with 1Q 2025). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to US$61.31. The fair value is estimated to be US$50.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 4.6%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Announcement • Apr 16
H2O America to Report Q1, 2026 Results on Apr 28, 2026 H2O America announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Announcement • Apr 06
H2O America, Annual General Meeting, May 13, 2026 H2O America, Annual General Meeting, May 13, 2026. Location: 16 water works drive biddeford, me 04005, United States New Risk • Mar 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 42% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Feb 27
H2O America Announces Appointment of Nick O. Rowe as Director Effective March 1, 2026 H2O America announced the appointment of Nick O. Rowe to the H2O America board of directors effective March 1, 2026. Rowe has been a leader in the drinking water industry for 39 years. Prior to his retirement in 2022, he was the senior vice president of American Water Works Company (American Water) and president of its subsidiary, Kentucky American Water Company. During his tenure at American Water, he held multiple executive leadership roles focused on operations and long-term value creation. Rowe also has extensive water utility experience in customer service, regulatory compliance, and local stakeholder relationships. Rowe has served in many leadership roles throughout his career, including board chair of the Kentucky Chamber of Commerce, board member of the Lexington Clinic, board member First Security Bank, and past chair of the Kentucky Governor’s Higher Education Nominating Committee. Rowe is currently a principal at NOR Solutions, a consulting firm that is focused on organizational leadership training. He is a graduate of Western Kentucky University where he earned a Bachelor of Science degree in civil engineering; he also holds a Master of Business Administration degree from Lebanon Valley College in Pennsylvania. In addition, he completed the Thames Water Oxford Leadership and RWE International Leadership programs. Reported Earnings • Feb 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$2.93 (up from US$2.87 in FY 2024). Revenue: US$800.6m (up 7.0% from FY 2024). Net income: US$102.6m (up 9.2% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 13
H2O America to Report Q4, 2025 Results on Feb 25, 2026 H2O America announced that they will report Q4, 2025 results After-Market on Feb 25, 2026 Declared Dividend • Jan 29
Third quarter dividend increased to US$0.44 Dividend of US$0.44 is 4.8% higher than last year. Ex-date: 9th February 2026 Payment date: 2nd March 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 26
H2O America Declares A Quarterly Cash Dividend, Payable on March 2, 2026, Announces Annual Dividend Guidance for 2026 The Board of Directors of H2O America has declared a quarterly cash dividend of $0.44 per share payable on March 2, 2026, to all shareholders of record at the close of business on Feb. 9, 2026. The March dividend will represent a 4.8% increase over the dividend paid in December 2025.
The company also announced that 2026 annualized dividend is expected to be $1.76 per share compared with $1.68 per share in 2025. Announcement • Dec 15
H2O America Announces Board Changes H2O America announced that Eric W. Thornburg will retire as non-executive chair of the board of directors, effective January 31, 2026. Mr. Thornburg has served the company with distinction for many years, including as chair, president, and CEO, and most recently as non-executive chair of the board. His leadership has been instrumental in shaping H2O America’s mission and its commitment to delivering high-quality, reliable water service to communities across the region. This transition follows Mr. Thornburg’s retirement from the CEO and president roles earlier this year, after eight years of servant leadership at H2O America and more than 40 years of service to the drinking water profession. The board of directors and the company express their deep gratitude for his steady guidance and continued support during this period of change. Effective February 1, 2026, the board of directors has appointed current CEO, Andrew F. Walters, as the new chair of the board. The board is confident that Mr. Walters will continue to lead H2O America with stability, transparency, and a long-term focus on serving customers and communities. Declared Dividend • Nov 03
Third quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 10th November 2025 Payment date: 1st December 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: US$1.27 (up from US$1.18 in 3Q 2024). Revenue: US$240.6m (up 6.9% from 3Q 2024). Net income: US$45.1m (up 17% from 3Q 2024). Profit margin: 19% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.0%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Oct 28
H2O America Declares Quarterly Cash Dividend, Payable on December 1, 2025 On October 24, 2025, the Board of Directors of H2O America declared a quarterly cash dividend on common stock of $0.42 per share, payable on December 1, 2025, to shareholders of record at the close of business on November 10, 2025. The 2025 annualized dividend is expected to be $1.68 per share compared with $1.60 per share in 2024. Announcement • Oct 15
H2O America to Report Q3, 2025 Results on Oct 27, 2025 H2O America announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 27, 2025 Declared Dividend • Jul 31
Second quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 11th August 2025 Payment date: 2nd September 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.71 (up from US$0.64 in 2Q 2024). Revenue: US$198.3m (up 13% from 2Q 2024). Net income: US$24.7m (up 19% from 2Q 2024). Profit margin: 12% (in line with 2Q 2024). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jul 29
H2O America Declares Quarterly Cash Dividend, Payable on September 2, 2025 On July 25, 2025, the directors of H2O America declared a quarterly cash dividend on common stock of $0.42 per share, payable on September 2, 2025, to shareholders of record at the close of business on August 11, 2025. The 2025 annualized dividend is expected to be $1.68per share compared with $1.60per share in 2024. Announcement • Jul 16
H2O America to Report Q2, 2025 Results on Jul 28, 2025 H2O America announced that they will report Q2, 2025 results After-Market on Jul 28, 2025 Announcement • Jun 25
H2o America Appoints Megan Mattern as Chief Accounting Officer, Effective July 28, 2025 H2O America announced the appointment of Megan Mattern as Chief Accounting Officer, Principal Accounting Officer and Controller, effective July 28, 2025. In this role, Mattern will lead accounting operations, financial reporting, financial planning and analysis, regulatory compliance, cost management, and internal controls, while playing a key role in advancing H2O America’s growth strategy and operational excellence. Mattern most recently served as Vice President and Chief Financial Officer of UGI International, a $2.3 billion multinational LPG distributor headquartered in Paris. She led financial strategy across 16 countries and more than 2,200 employees, driving portfolio optimization, delivering 15%+ EBIT growth, and unlocking over $1 million in annual savings through banking efficiencies. During a CEO transition, she was appointed Deputy and oversaw all of UGI International, reflecting her strength as a steady and strategic leader. Previously, she held senior financial leadership roles at UGI Energy Services, UGI Utilities, and PPL Corporation, leading initiatives in M&A, systems modernization, and financial transformation across regulated utility and energy businesses. She began her career at Deloitte. Mattern holds a bachelor’s degree in accounting from King’s College and an MBA from Wilkes University. She is a licensed CPA and has served on multiple nonprofit boards, reflecting her commitment to community engagement and servant leadership. Her appointment coincides with a broader leadership transition at H2O America. Following Thornburg’s retirement on June 30, Chief Financial Officer and Treasurer Andrew F. Walters will become CEO, and current CAO Ann P. Kelly will assume the role of CFO, both effective July 1, 2025. Declared Dividend • May 01
First quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 12th May 2025 Payment date: 2nd June 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.49 (up from US$0.36 in 1Q 2024). Revenue: US$167.6m (up 12% from 1Q 2024). Net income: US$16.6m (up 42% from 1Q 2024). Profit margin: 9.9% (up from 7.8% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 29
SJW Group Declares Quarterly Cash Dividend, Payable on June 2, 2025 On April 25, 2025, the directors of SJW Group declared a quarterly cash dividend on common stock of $0.42 per share, payable on June 2, 2025, to shareholders of record at the close of business on May 12, 2025. The 2025 annualized dividend is expected to be $1.68 per share compared with $1.60 per share in 2024. Announcement • Apr 22
SJW Group Appoints Kay R. New as Chief Human Resources Officer, Effective April 21, 2025 SJW Group announced that its board of directors has appointed Kay R. New as chief human resources officer (CHRO), effective April 21, 2025. In her new role, New will oversee enterprise-wide efforts related to talent development, organizational effectiveness, employee engagement and performance. New most recently served as vice president of rewards and employee experience at Avangrid, a leading energy company serving more than 3 million customers across 24 states. She also held the role of vice president of people operations and employee experience. During her tenure at Avangrid, she shaped the full employee journey—from onboarding, compensation and benefits, retirement programs, to policy and compliance, global mobility, budgets and analytics. Her leadership in designing equitable and innovative programs to attract, engage, and retain top talent – while fostering a culture of inclusion, growth, and excellence - played a key role in the company’s recognition as a Top Employer in the U.S. by Top Employers Institute. Additionally, she spearheaded the successful implementation of enterprise-wide HR technologies, including Workday and ServiceNow, to modernize and streamline the employee experience. Prior to joining Avangrid, New held key talent acquisition and recruitment roles at SGS North America, the world's leading testing, inspection and certification company, and with local business enterprises. She began her career as a supervisor at US Bank, the fifth-largest commercial banking company in the United States. She holds a Bachelor of Science in Business Administration – HR Management from the DeVoe School of Business at Indiana Wesleyan University and completed the Energising Leadership Programme at ESADE Business School, headquartered in Madrid, Spain. She also serves as Advisory Board Chair for Trust for Public Land in Connecticut, a nonprofit organization that works to connect everyone to the outdoors. Announcement • Apr 16
SJW Group to Report Q1, 2025 Results on Apr 28, 2025 SJW Group announced that they will report Q1, 2025 results After-Market on Apr 28, 2025 Announcement • Apr 03
SJW Group, Annual General Meeting, May 14, 2025 SJW Group, Annual General Meeting, May 14, 2025. Location: 151 west 43rd street, new york, United States Announcement • Mar 01
SJW Group Provides Earnings Guidance for the Year 2025 SJW Group Provided earnings guidance for the year 2025. For the year, the company is extending non-linear long-term diluted EPS growth of 5% to 7% through 2029, anchored off of 2022's diluted EPS of $2.43. Reported Earnings • Feb 27
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$2.87 (up from US$2.69 in FY 2023). Revenue: US$748.4m (up 12% from FY 2023). Net income: US$94.0m (up 11% from FY 2023). Profit margin: 13% (in line with FY 2023). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 4.5%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 13
SJW Group to Report Q4, 2024 Results on Feb 26, 2025 SJW Group announced that they will report Q4, 2024 results on Feb 26, 2025 Price Target Changed • Feb 03
Price target decreased by 7.7% to US$59.40 Down from US$64.33, the current price target is an average from 5 analysts. New target price is 14% above last closing price of US$52.10. Stock is down 11% over the past year. The company is forecast to post earnings per share of US$2.75 for next year compared to US$2.69 last year. Declared Dividend • Jan 31
Third quarter dividend increased to US$0.42 Dividend of US$0.42 is 5.0% higher than last year. Ex-date: 10th February 2025 Payment date: 3rd March 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 29
SJW Group Declares Quarterly Cash Dividend, Payable on March 3, 2025 SJW Group has declared a quarterly cash dividend of $0.42 per share payable on March 3, 2025, to all shareholders of record at the close of business on Feb. 10, 2025. The March dividend will represent a 5% increase over the dividend paid in December 2024. The 2025 annualized dividend is expected to be $1.68per share compared with $1.60 per share in 2024. Board Change • Jan 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Director Denise Kruger was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 10
SJW Group Appoints Douwe Busschops as Chief Information Officer SJW Group announced the appointment of Douwe Busschops as chief information officer (CIO), effective 09 December 2024. In this role, Busschops will focus on the integration and optimization of technology systems to enhance operational efficiency, customer experience, and long-term business growth. Douwe is an accomplished technology leader with a wealth of experience leading digital innovation and customer-focused technology solutions, said Eric Thornburg, president, chair and CEO of SJW Group. He will be an invaluable asset as company execute on the company's digital transformation strategy and ensure company technology aligns with its commitment to best-in-class service and growth across its national platform. With extensive experience in driving digital and organizational transformation and leading customer-centric technology strategy, Busschops joins SJW Group from Veolia North America, where he served as vice president and CIO for the Municipal Water division. In this role, Busschops delivered technology modernization and rationalization initiatives, including cloud migrations and the creation of a digital transformation strategy. He also designed and implemented a digital governance model to ensure optimal utilization of resources and compliance with applicable regulations and standards. Prior to this, he held senior roles at SUEZ Water North America, including vice president of customer experience, where he drove significant improvements in self-service adoption and customer satisfaction. Busschops holds a Master of Science in International Business Studies from Maastricht University School of Business and Economics. Announcement • Nov 12
SJW Group Appoints Ann P. Kelly as Chief Accounting Officer and Principal Accounting Officer SJW Group announced that Ann Kelly joined the company on November 12 as its chief accounting officer and principal accounting officer. In her new role, Kelly will help oversee financial strategy, accounting operations, budgeting and cost management, and associated regulatory compliance, while playing a key role in driving the company’s financial and strategic growth Kelly brings extensive financial and accounting leadership experience and deep expertise in the utility industry. She was most recently the chief financial officer for American Electric Power (AEP), where she led a team of more than 250 professionals in critical areas, including accounting and tax, treasury and risk, corporate planning and budgeting, and investor relations functions. Prior to joining AEP, she served in various roles of increasing responsibility at UGI Corporation (“UGI”) a natural gas, propane and electric power distribution company, up to vice president finance and chief financial officer, AmeriGas Propane, a UGI subsidiary. Kelly’s utility experience also includes financial and risk control roles at Exelon Generation/PECO Energy. Kelly earned a bachelor’s degree in accounting from Ohio Wesleyan University and a Master of Business Administration with a concentration in finance from Villanova University. Declared Dividend • Oct 30
Third quarter dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 4th November 2024 Payment date: 2nd December 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 30
SJW Group has filed a Follow-on Equity Offering in the amount of $200 million. SJW Group has filed a Follow-on Equity Offering in the amount of $200 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Oct 28
Third quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2024 results: EPS: US$1.18 (up from US$1.14 in 3Q 2023). Revenue: US$225.1m (up 9.9% from 3Q 2023). Net income: US$38.7m (up 6.7% from 3Q 2023). Profit margin: 17% (in line with 3Q 2023). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Oct 16
SJW Group to Report Q3, 2024 Results on Oct 28, 2024 SJW Group announced that they will report Q3, 2024 results Pre-Market on Oct 28, 2024 Declared Dividend • Jul 28
Second quarter dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 5th August 2024 Payment date: 3rd September 2024 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.64 (up from US$0.58 in 2Q 2023). Revenue: US$176.2m (up 12% from 2Q 2023). Net income: US$20.7m (up 13% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Water Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 16
SJW Group to Report Q2, 2024 Results on Jul 24, 2024 SJW Group announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 Buy Or Sell Opportunity • Jul 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to US$58.33. The fair value is estimated to be US$48.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Buy Or Sell Opportunity • May 13
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at US$58.05. The fair value is estimated to be US$47.99, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • May 01
SJW Group, Annual General Meeting, Jun 20, 2024 SJW Group, Annual General Meeting, Jun 20, 2024, at 14:00 US Eastern Standard Time. Agenda: To approve, on an advisory basis, the compensation of the named executive officers as disclosed in the proxy statement; to approve an amendment of the company's certificate of incorporation to permit officer exculpation; to approve an amendment of the company's certificate of incorporation to adopt a federal forum selection provision; and to ratify the appointment of deloitte & touche llp as the independent registered public accounting firm of sjw group for the fiscal year ending december 31, 2024. Declared Dividend • Apr 29
First quarter dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 3rd May 2024 Payment date: 3rd June 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: US$0.36. Revenue: US$149.4m (up 8.8% from 1Q 2023). Net income: US$11.7m (up 1.5% from 1Q 2023). Profit margin: 7.8% (down from 8.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) missed analyst estimates by 5.3%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Water Utilities industry in the US. Announcement • Apr 17
SJW Group to Report Q1, 2024 Results on Apr 25, 2024 SJW Group announced that they will report Q1, 2024 results After-Market on Apr 25, 2024 
