Strong Financial Performance
SJW Group reported a 41% increase in net income from the first quarter of 2024 and a 12% increase in revenue to $167.6 million, driven by rate increases in California and Connecticut.
Successful Rate Cases and Approvals
San Jose Water's 2025 to 2027 general rate case was effective January 1. Connecticut Water's infrastructure and conservation adjustment and water revenue adjustment filings were approved. Texas Water's second system improvement charge application is pending.
Capital Investments and Growth Strategy
In Q1, $78 million was invested in water and wastewater utility infrastructure across four states. The 2025 capital plan is a 34% increase over 2024, with a focus on a $2 billion five-year capital plan.
Advanced Metering Infrastructure (AMI) Implementation
The ongoing AMI project is a $100 million initiative aimed at reducing operating costs and improving billing accuracy.
S&P Credit Outlook Improvement
S&P raised the credit outlook for SJW Group to stable, highlighting the company's focus on maintaining its A category credit rating.