SJW Group FY2023 EPS $2.68 beats initial guide; Q4 EPS down 43%; 2024 guide $2.68-$2.78

H2O AMERICA

2023-FY EPS reported $2.68 revenue$670,363,000

Net income $85.0M ($2.68/diluted), up 15% from $73.8M ($2.43) in 2022; revenue $670.4M (+8%).
Q4 net income $18.9M ($0.59/diluted), down 43% due to delayed GRC revenue and higher production costs.
Infrastructure capex $272M in 2023, exceeding $255M guidance; 2024 plan ~$332M.
Regulatory: CA ROE 10.01% WCCM-adjusted; Maine rate hike $2.6M; Texas acquisitions closed.
2024 EPS guidance $2.68-$2.78; long-term 5%-7% EPS growth target reaffirmed.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

H2O AMERICA reported 2023 results: revenue $670.4 million, net income $85.0 million, EPS $2.68 per diluted share.

Period: 2023
Revenue: $670.4 million
Net income: $85.0 million
EPS: $2.68 per diluted share
Result: reported results

Exact text from the filing

by higher water production costs and increased interest expense from higher cost of borrowings for our short-term debt and new long-term debt. Operating revenue for 2023 was $670.4 million, up 8% compared to $620.7 million for 2022. The increase was primarily driven by $46.6 million in rate filings, $5.7 million due to regulatory mechanism adjustments, and customer

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Source: SEC EDGAR

accession 0000766829-24-000020

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