| --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------| | | | | • Strong developer interest in our service area | | | • Outstanding development units (potential connections) increased 47% in 2023 to 22,000 units1 | Texas had the highest | | • Serves three of the five fastest-growing counties in the United ...

Financial Data and Key Metrics - Revenue for 2023 was $670.4 million, an 8% increase from $620.7 million in 2022 [13] - Net income for 2023 was $85 million, a 15% increase from $73.8 million in 2022 [13] - Diluted EPS for 2023 was $2.68, a 10% increase from $2.43 in 2022, driven partly by a $0.14 increase due to the partial release of income tax reserves [13] - Q4 2023 revenue was $171.3 million, compared to $171.4 million in Q4 2022, with net income of $18.9 million or $0.59 per diluted share, down from $33.5 million or $1.09 per diluted share in Q4 2022 [29] Business Line Data and Key Metrics - Texas Water achieved 12% customer growth year-over-year, serving over 28,000 water connections and 950 wastewater connections [9] - Advanced Metering Infrastructure (AMI) project in California is expected to cost approximately $100 million, with $29 million budgeted for 2024 [21] - The company invested $272 million in capital improvements in 2023, exceeding the planned expenditures by $17 million [4] Market Data and Key Metrics - Reduced water usage in Maine due to wet weather and lower industrial usage, and in Texas due to drought conditions and water restrictions [12] - Texas Water serves three of the five fastest-growing counties in the US, with a 47% increase in potential new connections to 22,000 units [67] - The company is targeting voluntary water use reductions in Texas due to ongoing drought conditions, with most service areas classified as Stage 2 or Stage 3 drought [69] Company Strategy and Industry Competition - The company plans to invest $1.6 billion over five years, including $230 million for PFAS remediation [48] - Strategic investments include advanced leak detection, solar generation, battery energy storage systems, and fleet electrification to reduce operating expenses [10] - The company is focused on regulatory outcomes, such as the general rate case in California, Connecticut, and the system improvement charge in Texas [27] Management Commentary on Operating Environment and Future Outlook - Management highlighted constructive regulatory outcomes, including the cost of capital decision and the reimplementation of the Water Conservation Memorandum Account in California [3] - The company expects 2024 diluted EPS guidance of $2.68 to $2.78, consistent with a long-term growth rate of 5% to 7% [70] - Management remains optimistic about Texas Water's growth prospects, driven by organic growth and strategic acquisitions [47] Other Important Information - The company has a gender-balanced board and spent $63 million (21% of addressable spend) with diverse suppliers in 2023 [76] - The company received an A rating from MSCI for ESG efforts and was recognized in the Newsweek Excellence 1000 Index for 2024 [57] - The company is participating in a class action lawsuit against 3M and DuPont to recover costs related to PFAS remediation [97] Q&A Session Summary Question: Connecticut Regulatory Environment and Aquarian Water - Management declined to comment specifically on Aquarian Water but expressed optimism about the regulatory process in Connecticut [60][62] - The company is focused on disciplined growth and evaluating opportunities that create shareholder value [81][82] Question: Pending Rate Case in Connecticut - Management expressed confidence in the team's transparency and collaboration with regulators, expecting a fair outcome [83][84] - The decision on the general rate case is expected by the end of June 2024, with a potential revenue increase effective July 1, 2024 [40] Question: PFAS Remediation and Public Awareness - Management emphasized the importance of EPA's proposed regulatory standards for PFAS and the company's commitment to resolving the issue [95][113] - The company is participating in a class action lawsuit to recover costs, which will benefit customers by mitigating rate impacts [97] Question: Capital Expenditures and Reinvestment in 2024 - Management highlighted that approximately 65% of the $332 million 2024 capital budget will be recovered through pre-approved projects and infrastructure recovery mechanisms [72] - Reinvestment in 2024 includes strategic projects aimed at reducing future costs and improving operational efficiency [87]

EXHIBIT 99.1 SJW Group Announces 2023 Financial Results SAN JOSE, Calif. – Feb. 21, 2024 – SJW Group (NYSE: SJW) today reported financial results for 2023. "With a strong fourth quarter, our 2023 financial results and operating performance exceeded expectations and the initial earnings per share guidance we set for SJW Group at this time last year," stated SJW Group Chair, CEO, and President, Eric W. Thornburg. "The results we announce today are a testament to our talented teams across the country deliverin ...

On Today's Call SJW Group Safe Harbor (9) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (10) changes in general economic, political, business and financial market conditions; (11) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, comp ...

SJW Group (NYSE:SJW) Q3 2023 Earnings Conference Call October 30, 2023 2:00 PM ET Company Participants Andrew Walters - Chief Financial Officer and Treasurer Eric Thornburg - Chair, Board, President and CEO Conference Call Participants Angie Storozynski - Seaport Research Richard Sunderland - JPMorgan Jonathan Reeder - Wells Fargo Securities Gregg Orrill - UBS Operator Ladies and gentlemen, thank you for standing by. And welcome to the SJW Group Third Quarter 2023 Financial Results Call. At this time, all p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8966 SJW GROUP (Exact name of registrant as specified in its charter) 110 West Taylor Street, San Jose, CA 95110 (Address of principal ex ...

SJW Group (NYSE:SJW) Q2 2023 Earnings Conference Call July 31, 2023 2:00 PM ET Company Participants Andrew Walters - Chief Financial Officer & Treasurer Eric Thornburg - Chair of the Board, President & Chief Executive Officer Conference Call Participants Richard Sunderland - JPMorgan Gregg Orrill - UBS Jonathan Reeder - Wells Fargo Securities Operator Welcome to the SJW Group Second Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8966 SJW GROUP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. E ...

SJW Group Financial Results Presentation Second Quarter 2023 S/W Group On Today's Call Eric Thornburg Chair, President and CEO Andrew Walters Chief Financial Officer and Treasurer 2 Forward-Looking Statements Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "estimates," "anticipat ...

SJW Group (NYSE:SJW) Q1 2023 Earnings Conference Call May 1, 2023 2:00 PM ET Company Participants Andrew Walters - Chief Financial Officer & Treasurer Eric Thornburg - Chair of the Board, President & Chief Executive Officer Conference Call Participants Angie Storozynski - Seaport Research Richard Sunderland - JPMorgan Jonathan Reeder - Wells Fargo Gregg Orrill - UBS Operator Good afternoon, and thank you for standing by. Welcome to the SJW Group First Quarter 2023 Financial Results Conference Call. At this ...