SJW Group Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 06:02 am EDT
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SJW Group reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 204.84 million compared to USD 175.98 million a year ago. Net income was USD 36.22 million compared to USD 25.03 million a year ago. Basic earnings per share from continuing operations was USD 1.14 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 1.13 compared to USD 0.82 a year ago.
For the nine months, sales was USD 499.03 million compared to USD 449.32 million a year ago. Net income was USD 66.04 million compared to USD 40.33 million a year ago. Basic earnings per share from continuing operations was USD 2.1 compared to USD 1.33 a year ago. Diluted earnings per share from continuing operations was USD 2.09 compared to USD 1.33 a year ago.
SJW Group is a water and wastewater utilities company providing water service. The Company operates through four wholly owned subsidiaries, namely, San Jose Water Company (SJWC), SJWNE LLC, SJWTX Holdings, Inc., and SJW Land Company. SJWNE LLC is a special purpose entity holding company for Connecticut Water Service, Inc. (CTWS) (and its wholly owned subsidiaries, The Connecticut Water Company (CWC), The Maine Water Company (MWC), Chester Realty, Inc. and New England Water Utility Services, Inc. (NEWUS)). SJWTX Holdings, Inc. is the holding company for SJWTX, Inc., doing business as The Texas Water Company (TWC), Texas Water Operation Services, LLC (TWOS) and Texas Water Resources, LLC (TWR). The Company, through its wholly owned subsidiaries, primarily provides water utility and other related services in California, Connecticut, Maine and Texas. SJW Group has business in property management and real estate investment activity conducted by SJW Land Company and Chester Realty, Inc.