Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €40.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Water Utilities industry globally. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.47 per share. Declared Dividend • May 02
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 3.3%, which is lower than the industry average of 3.7%. 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 released: EPS: US$0.50 (vs US$0.49 in 1Q 2025) 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 7.1% growth forecast for the Water Utilities industry in Europe. 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 11% per year, which means it is significantly lagging earnings. 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 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €49.00, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Water Utilities industry globally. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €44.17 per share. 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 • Apr 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. 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). Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (22% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €40.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Water Utilities industry globally. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.54 per share. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.5% average weekly change). 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 released: EPS: US$2.93 (vs US$2.87 in FY 2024) 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 is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Global Water Utilities industry. 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 14% 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 Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €40.80, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Water Utilities industry globally. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €40.99 per share. Declared Dividend • Jan 29
Third quarter dividend of US$0.44 announced Shareholders will receive a dividend of US$0.44. Ex-date: 9th February 2026 Payment date: 2nd March 2026 Dividend yield will be 3.7%, which is about the same as the industry average. 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. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: US$1.27 (vs US$1.18 in 3Q 2024) 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 is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Global Water Utilities industry. 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 15% 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 • Aug 03
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 3.7%, which is about the same as the industry average. 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 released: EPS: US$0.71 (vs US$0.64 in 2Q 2024) 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 is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Global Water Utilities industry. 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 12% 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 05
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 3.1%, which is lower than the industry average of 3.7%. 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 released: EPS: US$0.49 (vs US$0.36 in 1Q 2024) 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 is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Global Water Utilities industry. 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 6% 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 released: EPS: US$2.87 (vs US$2.69 in FY 2023) 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 is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Global Water Utilities industry. 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 5% 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 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €50.50, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Water Utilities industry globally. Total loss to shareholders of 5.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.19 per share. Declared Dividend • Feb 03
Third quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 10th February 2025 Payment date: 3rd March 2025 Dividend yield will be 3.2%, which is lower than the industry average of 3.7%. 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 01
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. New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). 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 3.0%, which is lower than the industry average of 3.7%. 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 released: EPS: US$1.18 (vs US$1.14 in 3Q 2023) 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 is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Global Water Utilities industry. 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 3% 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 2.7%, which is lower than the industry average of 3.7%. 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 released: EPS: US$0.64 (vs US$0.58 in 2Q 2023) 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 is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Global Water Utilities industry. 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 1% 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 7.7% to €53.00. The fair value is estimated to be €43.72, 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 Over the last 90 days, the stock has fallen 3.6% to €53.00. The fair value is estimated to be €43.81, 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 3.0%, which is lower than the industry average of 3.7%. 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 26
First quarter 2024 earnings released: EPS: US$0.36 (vs US$0.37 in 1Q 2023) 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 is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Global Water Utilities industry. 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 Buy Or Sell Opportunity • Mar 13
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to €52.00. The fair value is estimated to be €43.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Mar 06
Sjw Group Announces Appointment of Tanya Moniz-Witten as President Effective March 25, 2024 SJW Group announced that Tanya Moniz-Witten will be joining the company on March 25, 2024, as president of San Jose Water (SJW). Tanya will be responsible for leading the regulated utility business in San Jose, driving strategy, financial performance, growth and establishing and maintaining excellent regulatory and customer relationships. Moniz-Witten joins SJW from National Grid, a publicly traded company on the NYSE. Here, she held the position of Vice President, Electric Distribution Field Operations. Prior to this, she worked at Pacific Gas and Electric Company (PG&E) where she served in various roles including Senior Director of Electric Distribution Field Operations, Director of Public Safety and Regulatory, and Director of Meter Asset Management and Engineering. Moniz-Witten attended University of California, Santa Barbara where she received a Bachelor of Environmental Studies. She also has a Master of Business Administration from the Wharton School, University of Pennsylvania. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: US$2.69 (vs US$2.44 in FY 2022) Full year 2023 results: EPS: US$2.69 (up from US$2.44 in FY 2022). Revenue: US$670.4m (up 8.0% from FY 2022). Net income: US$85.0m (up 15% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 22
SJW Group Provides Earnings Guidance for the Year 2024 SJW Group provided earnings guidance for the year 2024. The following is the company’s 2024 full-year guidance: Net income per diluted common share of $2.68 to $2.78. In addition, the company reiterate non-linear long-term diluted EPS growth of 5% to 7%, anchored off 2022's diluted EPS of $2.43. Announcement • Feb 13
SJW Group to Report Q4, 2023 Results on Feb 21, 2024 SJW Group announced that they will report Q4, 2023 results After-Market on Feb 21, 2024 Declared Dividend • Jan 28
Third quarter dividend of US$0.40 announced Shareholders will receive a dividend of US$0.40. Ex-date: 2nd February 2024 Payment date: 1st March 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (47% 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 7.6% 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 5.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 25
SJW Group Declares Quarterly Cash Dividend, Payable on March 1, 2024 The Board of Directors of SJW Group has declared a quarterly cash dividend of $0.40 per share payable on March 1, 2024, to all shareholders of record at the close of business on February 5, 2024. The March dividend will represent a 5.3% increase over the dividend paid in December 2023. The 2024 annualized dividend will be $1.60 per share compared with $1.52 per share in 2023. Announcement • Nov 02
SJW Group Appoints Marisa Joss as Corporate Secretary SJW Group announced that its board of directors has appointed Marisa Joss as corporate secretary, effective October 25, 2023. She joined the company in September 2022. Joss will also continue in her previous role as deputy general counsel subsidiaries, reporting to Willie Brown, vice president and general counsel of SJW Group. Joss will support, serve and advise SJW Group’s board of directors and executive officers in all areas of corporate governance and compliance matters. She assumes the role of corporate secretary from Brown who will primarily focus on his responsibilities as vice president and general counsel. Prior to joining SJW Group, Marisa served as deputy general counsel and assistant corporate secretary for Eleusis. She also spent over a decade at Consolidated Edison, supporting the board of directors and providing governance and compliance advice. Joss attended the University of the Witwatersrand in Johannesburg, South Africa, where she received a Bachelor of Arts in psychology. She also has a Juris Doctor degree from New York Law School, where she was a member of the school’s Law Review and a merit scholarship recipient. Reported Earnings • Oct 30
Third quarter 2023 earnings released: EPS: US$1.14 (vs US$0.83 in 3Q 2022) Third quarter 2023 results: EPS: US$1.14 (up from US$0.83 in 3Q 2022). Revenue: US$204.8m (up 16% from 3Q 2022). Net income: US$36.2m (up 45% from 3Q 2022). Profit margin: 18% (up from 14% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Oct 19
SJW Group to Report Q3, 2023 Results on Oct 30, 2023 SJW Group announced that they will report Q3, 2023 results at 9:00 AM, US Eastern Standard Time on Oct 30, 2023 Announcement • Sep 01
SJW Group Announces Appointment of Denise L. Kruger to Board of Directors, Effective, September 1, 2023 On August 31, 2023, the Board of Directors of SJW Group increased the size of the Board from eight to nine directors, effective as of September 1, 2023, and, upon the recommendation of the Nominating and Governance Committee of the Board appointed Denise L. Kruger to the SJW Group board of directors. Kruger has been a leader in the drinking water industry for 30 years. Prior to her retirement in 2021, she was senior vice president, regulated utilities at Golden State Water Company, a subsidiary of American States Water, based in California. Her previous experience includes executive leadership roles in customer service and water quality. Kruger also has extensive water utility experience in business expansion, environmental stewardship, asset management, water resources, operations, regulatory compliance, and corporate governance. Kruger has served in many leadership roles through her career, including: Chair of the Water Research Foundation. Chair of the American Ground Water Trust. Member of the executive committee of the American Water Works Association. Board member of the California Foundation on the Environment and Economy. Kruger shared her water industry expertise as a former consultant to the California Water Association advising small water systems on technical, financial and managerial matters. She is a graduate of the University of California, Davis, where she earned a Bachelor of Science degree in mechanical engineering; she also holds a Master of Business Administration degree from the University of California, Irvine. Announcement • Aug 03
SJW Group Appoints Aundrea Williams as President of The Texas Water Company, Effective August 21, 2023 SJW Group announced that Aundrea Williams will be joining the company on August 21, 2023 as president of The Texas Water Company (TWC). TWC serves three of the five fastest growing counties in the U.S. Williams joins TWC from NextEra Energy Resources. Here, she held the position of Executive Director, Regulatory & Legislative Affairs NextEra Energy Resources (NEER). Prior to this, she held several roles at the company including President, NextEra Water Texas & NextEra Energy Transmission (NEET) Midwest, and President, Lone Star Transmission & NextEra Energy Transmission (NEET) Southwest. She also worked for several years at NRG, including as Vice President, Regulatory and Legislative Strategy & Policy. Williams attended Stephen F. Austin State University where she received a Bachelor of Business Administration. She also has a Master of Business Administration from the University of Houston. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: US$0.58 (vs US$0.38 in 2Q 2022) Second quarter 2023 results: EPS: US$0.58 (up from US$0.38 in 2Q 2022). Revenue: US$156.9m (up 5.3% from 2Q 2022). Net income: US$18.3m (up 58% from 2Q 2022). Profit margin: 12% (up from 7.8% in 2Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Jun 01
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. 1 highly experienced director. Independent Director Becky Klein was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 02
First quarter 2023 earnings released: EPS: US$0.37 (vs US$0.12 in 1Q 2022) First quarter 2023 results: EPS: US$0.37 (up from US$0.12 in 1Q 2022). Revenue: US$137.3m (up 11% from 1Q 2022). Net income: US$11.5m (up 209% from 1Q 2022). Profit margin: 8.4% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 29
President of CT Water recently sold €51k worth of stock On the 27th of March, Craig Patla sold around 725 shares on-market at roughly €70.57 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €163k more than they bought in the last 12 months. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: US$2.44 (vs US$2.04 in FY 2021) Full year 2022 results: EPS: US$2.44 (up from US$2.04 in FY 2021). Revenue: US$620.7m (up 8.2% from FY 2021). Net income: US$73.8m (up 22% from FY 2021). Profit margin: 12% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
SJW Group to Report Q4, 2022 Results on Feb 22, 2023 SJW Group announced that they will report Q4, 2022 results After-Market on Feb 22, 2023 Announcement • Feb 01
Mohammed (Rally) Zerhouni Joins SJW Group as Senior Vice President of Finance, Principal Accounting Officer SJW Group announced that Mohammed G. (Rally) Zerhouni joined the company on Jan. 30 as the senior vice president of finance, principal accounting officer. Zerhouni was most recently the chief financial officer for Veolia North America regulated utility business, where he led a team of more than 50 professionals in critical areas, including accounting, financial planning and analysis, taxes, procurement, and rates. In addition, he led the development and execution of the finance transformation roadmap. Prior to joining Veolia, he led audit engagement teams at PwC, which included engagements with large investor-owned utilities. Zerhouni was also an adjunct faculty at Franklin University teaching accounting courses. He will assume the duties of Wendy Avila-Walker, vice president of finance, assistant treasurer and controller, who has announced her planned retirement effective March 3, 2023, after more than 17 years of service. Zerhouni is a certified public accountant. He attended Sidi Mohammed Ben Abdellah University, where he received a Bachelor of Science in business Administration. He also has a Bachelor of Science in Accounting and a Master of Business Administration from Franklin University. Announcement • Jan 28
SJW Group Announces Walter J. Bishop Will Not Stand for Re-Election On January 19, 2023, Mr. Walter J. Bishop informed the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of SJW Group (the “Company”) that he will not stand for re-election at the next annual meeting of the stockholders of the Company. Accordingly, the Board determined that Mr. Bishop will not be nominated as a director candidate at the next annual meeting of stockholders. Mr. Bishop has served as a director of the Company for more than 11 years, and the Board greatly appreciates his invaluable contribution to the Company during his tenure. Announcement • Jan 27
SJW Group Has Declares Quarterly Cash Dividend, Payable on March 1, 2023 The Board of Directors of SJW Group has declared a quarterly cash dividend of $0.38 per share payable on March 1, 2023, to all shareholders of record at the close of business on Feb. 6, 2023. The March dividend will represent a 5.6% increase over the dividend paid in December 2022. The 2023 annualized dividend will be $1.52 per share compared with $1.44 per share in 2022. Announcement • Dec 29
SJW Group Appoints Bruce A. Hauk as Chief Operating Officer, Effective January 1, 2023 SJW Group announced that its board of directors has appointed Bruce A. Hauk as chief operating officer, effective January 1, 2023. Hauk will lead regulated water and wastewater utility operations across SJW Group’s geographically diverse footprint. The company’s local operations now serve more than 1.5 million people in California, Connecticut, Maine and Texas. Hauk joined SJW Group in August 2022 as its chief corporate development and strategy officer. Hauk will continue to lead the company’s acquisition and growth initiatives, building on SJW’s strong record of acquisitions, with over 60% customer growth and a more than doubling of utility plant in the past five years. Prior to joining SJW Group, Hauk was president of NextEra Water and served in many leadership roles at American Water, including deputy chief operating officer. He is a director of the National Utilities Diversity Council and was the recipient of the 2019 Inclusion & Diversity Award presented by the National Black Chamber of Commerce. Also, while he was president of Illinois American Water, his company won the 2018 Outstanding Corporate Leadership Award from the Illinois Black Chamber of Commerce. Hauk has a Bachelor of Science in chemistry and life sciences from Indiana State University, a Master of Public Administration from Indiana University-Purdue University, and a Master of Business Administration from Indiana Wesleyan University. He is a licensed operator in water and wastewater treatment. Announcement • Dec 02
SJW Group Announces Stephanie Orosco Promoted to Chief Human Resources Officer SJW Group announced that Stephanie Orosco has been promoted to Chief Human Resources Officer of SJW Group. Orosco most recently served as the vice president of human resources (HR) at San Jose Water, a subsidiary of the company in California. In this new role, Orosco will be responsible for developing and executing human resource strategy in support of the overall business plan and strategic direction of the organization — specifically in the areas of succession planning, talent management, change management, organizational and performance management, training and development, and compensation. She will coordinate with the human resource teams at the respective subsidiaries to deliver HR programs and services that best serve employees, while considering regulatory and business needs for each state. Orosco joined the company in 2008, and prior to her vice president role, she served as Director of HR at San Jose Water. Before joining the company, Orosco worked at Applied Materials and Cisco Systems. Orosco has a Bachelor’s Degree in business administration and management from Saint Mary’s College of California. The promotion became effective on November 4, 2022. Announcement • Dec 01
SJW Group Appoints Kristen A. Johnson as Senior Vice President and Chief Administrative Officer SJW Group has announced that Kristen A. Johnson has been promoted to senior vice president and chief administrative officer. Johnson has served as the chief administrative officer for SJW Group since 2019. Johnson concurrently serves as senior vice president at Connecticut Water Company, a Connecticut subsidiary of SJW Group, a position she has held since 2019. She leads the teams there in information technology, human resources and the project management office and spearheads various projects and strategic initiatives. Johnson began her career at Connecticut Water in human resources in 2007 and has served as the company’s corporate secretary and ethics officer. She also was an executive co-leader of the integration management initiative leading up to and following the 2019 combination of Connecticut Water Service Inc. and SJW Group to maximize the benefits of the combination to customers, employees and shareholders. Under her leadership, Connecticut Water achieved recognition as a top regional workplace by Top Workplaces in 2021 and 2022 and a USA Top Workplace in 2022. She has a bachelor’s degree from Our Lady of the Elms College and a master’s degree in human resources development from American International College. Announcement • Nov 05
SJW Group Announces Executive Changes Effective as of November 3, 2022, James P. Lynch, who was the Chief Accounting Officer of SJW Group (the “Company”), is no longer employed by the Company nor of its subsidiaries. Andrew F. Walters, the Chief Financial Officer of the Company, will serve as the principal accounting officer. Mr. Walters has served as Chief Financial Officer and Treasurer of the Company, San Jose Water Company (“SJWC”), SJW Land Company, and SJWTX Inc. since January 2022. Mr. Walters served as Chief Corporate Development Officer and Integration Executive of the Company from November 2019 until January 2022 and previously served as Chief Administrative Officer of SJWC since January 31, 2014. Mr. Walters is also currently the Vice President of Business Planning of Connecticut Water Service Inc. and Connecticut Water Company as of November 7, 2019. Prior to joining SJWC in 2014, Mr. Walters was a managing director and a senior acquisitions officer in the Infrastructure Investments Group of JP Morgan Asset Management from January 2009 to June 2013. Prior to this, Mr. Walters served in the Investment Banking Division of Citigroup as managing director and head of infrastructure for the Americas and in other roles focused on mergers and acquisitions and capital raising for clients, since 1993. Announcement • Nov 04
SJW Group Appoints Marisa Joss as Deputy General Counsel and Assistant Corporate Secretary SJW Group announced that Marisa Joss has joined the company as Deputy General Counsel and Assistant Corporate Secretary. In this role and as a member of the Senior Leadership Team, Marisa will be responsible for providing advice and support to both SJW and its subsidiaries, along with their boards of directors in the areas of legal and risk management, corporate governance, and securities laws. Prior to joining SJW Group, Marisa served as Deputy General Counsel and Assistant Corporate Secretary for Eleusis, a biotech company based in New York and London, England. She also spent over a decade at Consolidated Edison with extensive experience supporting the board of directors and providing advice and counsel in governance and compliance matters. Prior to this, she was Corporate Counsel for The Pepsi Bottling Group Inc. Marisa attended the University of the Witwatersrand in Johannesburg, South Africa, where she received a Bachelor of Arts in Psychology. She also has a JD from New York Law School, where she was a member of the school’s Law Review and a Merit Scholarship recipient. She is originally from Pretoria, South Africa. 
