Eric W. Thornburg to retire as Chief Executive Officer and President effective June 30, 2025; will remain on as non-executive Chair of the BoardAndrew F. Walters named next Chief Executive OfficerBruce A. Hauk promoted to PresidentKristen A. Johnson promoted to President of the newly formed Shared Services organization SAN JOSE, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- SJW Group (NASDAQ: SJW), one of the nation’s largest investor-owned pure-play water and wastewater utilities, today announced a leadership ...

Core Insights - SJW reported quarterly earnings of $0.74 per share, exceeding the Zacks Consensus Estimate of $0.55 per share, and up from $0.59 per share a year ago, representing an earnings surprise of 34.55% [1] - The company achieved revenues of $197.82 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 12.45%, compared to $171.34 million in the same quarter last year [2] - SJW shares have increased approximately 10.2% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $156.57 million, and for the current fiscal year, it is $2.95 on revenues of $755.03 million [7] - The estimate revisions trend for SJW is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Utility - Water Supply industry, to which SJW belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, York Water, is expected to report quarterly earnings of $0.37 per share, reflecting a year-over-year decline of 11.9%, with revenues projected at $19 million, a 5% increase from the previous year [9]

EXHIBIT 99.1 SJW Group Announces 2024 Financial Results SAN JOSE, Calif. — Feb. 26, 2025 — SJW Group (NASDAQ: SJW) today reported financial results for 2024. "I am pleased to report another year of strong performance, driven by our talented teams and a proven business strategy that delivers results," stated SJW Group Chair, CEO, and President Eric W. Thornburg. "Our year-over-year EPS growth, exceeding our 2024 guidance, and substantial infrastructure investments demonstrate our commitment to building a str ...

Core Viewpoint - SJW Group reported strong financial performance for 2024, with significant year-over-year growth in earnings per share (EPS) and operating revenue, driven by strategic investments and regulatory outcomes that enhance value for customers and shareholders [2][3][5]. Financial Performance - Net income for 2024 was $94.0 million, or $2.87 diluted EPS, an increase of 11% from $85.0 million, or $2.68 diluted EPS in 2023 [3]. - Non-GAAP adjusted net income for 2024 was $96.8 million, or $2.95 non-GAAP diluted EPS, a 15% increase from $83.9 million, or $2.65 adjusted diluted EPS in 2023 [3][4]. - Operating revenue in 2024 reached $748.4 million, a 12% increase from $670.4 million in 2023, primarily due to rate increases and higher customer usage [5]. Operating Expenses - Operating expenses for 2024 were $577.9 million, up 11% from $520.9 million in 2023, driven by increased water production expenses and administrative costs [5][9]. - The effective consolidated income tax rates for 2024 and 2023 were approximately 9% and 7%, respectively, with the increase attributed to higher tax deficiencies related to share-based payments [6]. Capital Expenditures and Future Plans - SJW Group invested $353 million in infrastructure and water supply in 2024, exceeding the guidance of $332 million [14]. - The company plans to increase its five-year capital plan by 25% to $2.0 billion, focusing on infrastructure replacement and PFAS remediation [8][14]. Regulatory Updates - In California, the CPUC approved a settlement allowing San Jose Water to invest $450 million over three years, with a total revenue increase of $53.1 million [15]. - In Connecticut, a WICA surcharge increase was authorized, expected to generate an additional $4.3 million in annualized revenues [20]. Dividend Information - The company declared a quarterly cash dividend of $0.42 per share, representing a 5% increase over the previous dividend [30][31]. - SJW Group has a history of increasing dividends for 57 consecutive years, highlighting its commitment to returning value to shareholders [31]. 2025 Guidance - SJW Group introduced 2025 adjusted diluted EPS guidance of $2.90 to $3.00, with a long-term growth expectation of 5% to 7% through 2029 [28].

Core Viewpoint - SJW Group is set to report its financial results for Q4 and full-year 2024, along with a five-year capital plan, on February 26, 2025 [1] Financial Results Announcement - The financial results will be announced after market close on February 26, 2025 [1] - A conference call will be hosted by key executives on February 27, 2025, at 11 a.m. Pacific time [2] - The call will discuss the fourth quarter and full-year results, and a live webcast will be available for public access [3] Company Overview - SJW Group is one of the largest investor-owned water and wastewater utilities in the U.S., serving 1.6 million people [4] - The company operates several water utilities across different states, including California, Connecticut, Maine, and Texas [4] - SJW Group focuses on investing in operations, community engagement, and delivering sustainable value to shareholders [4]

Core Viewpoint - The market anticipates SJW will report a year-over-year decline in earnings despite an increase in revenues for the quarter ended December 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - SJW is expected to post quarterly earnings of $0.55 per share, reflecting a year-over-year decrease of 6.8%, while revenues are projected to be $175.92 million, up 2.7% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for SJW is lower than the consensus estimate, resulting in an Earnings ESP of -5.46%, indicating a bearish sentiment among analysts [10]. Historical Performance - SJW has matched consensus estimates in the last reported quarter, with earnings of $1.18 per share, and has beaten consensus EPS estimates two times over the last four quarters [12][13]. Zacks Rank - SJW currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat, especially in conjunction with a negative Earnings ESP [11]. Conclusion - While SJW does not appear to be a strong candidate for an earnings beat, investors should consider other factors before making investment decisions [16].

Core Points - SJW Group has declared a quarterly cash dividend of $0.42 per share, payable on March 3, 2025, representing a 5% increase from the previous dividend paid in December 2024 [1] - The annualized dividend for 2025 is expected to be $1.68 per share, compared to $1.60 per share in 2024 [1] - The company has a long history of dividend payments, having paid dividends on common stock for over 80 consecutive years and increasing the annual dividend for 57 consecutive years [2][6] Company Overview - SJW Group is one of the largest investor-owned pure-play water and wastewater utilities in the United States, serving nearly 1.6 million people [3] - The company operates several water utilities across different states, including California, Connecticut, Maine, and Texas, and focuses on environmental protection, community engagement, and delivering shareholder value [3] Leadership Statement - The CEO, Eric W. Thornburg, emphasized the board's decision to increase the dividend as a sign of confidence in the company's mission and its employees [2]

Core Viewpoint - SJW Group has been recognized by Newsweek as one of America's Most Responsible Companies for 2025, highlighting its commitment to positive global impact through environmental and social initiatives [1][4]. Group 1: Corporate Responsibility and Recognition - SJW Group serves 1.6 million people across the U.S. and has been acknowledged for its dedication to community service and environmental initiatives [1][2]. - The company has also been recognized as one of America's Greenest Companies for 2025, further emphasizing its commitment to sustainability [5]. Group 2: Environmental and Social Initiatives - SJW Group has implemented various sustainability measures, including reducing Scope 1 and Scope 2 greenhouse gas emissions by 20% from 2019 to 2022, with a target of 50% reduction by 2030 [7]. - The company has advanced leak detection programs that have reduced non-revenue water to less than 10% in California [7]. - SJW Group is expanding the use of recycled water for irrigation and non-potable uses to lessen the demand for drinking water [7]. - The installation of solar generation is expected to produce over 6,000 megawatt hours of electricity annually [7]. Group 3: Community Support and Financial Assistance - In 2023, SJW Group secured over $900,000 in assistance for customers through the federal Low-Income Home Water Assistance Program and $15.3 million for California customers affected by COVID-related hardships [7]. - The company has expanded income eligibility for its Water Rate Assistance Program (WRAP) in Connecticut, providing discounts for local income-eligible customers [7]. - SJW Group has committed to dispensing 21% of its addressable 2023 spend to diverse vendors [7]. Group 4: ESG Analysis and Methodology - The recognition as one of America's Most Responsible Companies was based on an analysis of 30 key performance indicators related to environmental, social, and corporate governance (ESG) concerns, including energy usage and charitable donations [4].

Core Viewpoint - SJW Group has been recognized by Newsweek as one of America's Most Responsible Companies for 2025, highlighting its commitment to positive global impact through environmental and social practices [1][4]. Group 1: Corporate Responsibility and Recognition - SJW Group serves 1.6 million people across the U.S. and has been acknowledged for its dedication to community service and environmental initiatives [1][2]. - The company has also been recognized as one of America's Greenest Companies for 2025, further emphasizing its commitment to sustainability [5]. Group 2: Environmental and Social Initiatives - SJW Group has implemented various sustainability measures, including reducing Scope 1 and Scope 2 greenhouse gas emissions by 20% from 2019 to 2022, with a target of 50% reduction by 2030 [7]. - The company has advanced leak detection programs that have reduced non-revenue water to less than 10% in California [7]. - Investments in solar generation are expected to produce over 6,000 megawatt hours of electricity annually, contributing to operational cost reductions [3][7]. Group 3: Community Engagement and Support - In 2023, SJW Group secured over $900,000 in assistance for low-income customers through federal programs and $15.3 million for California customers affected by COVID-related hardships [7]. - The company has expanded its Water Rate Assistance Program (WRAP) in Connecticut, providing discounts for income-eligible customers [7]. - SJW Group has committed to dispensing 21% of its addressable 2023 spend to diverse vendors, promoting inclusivity [7].

Core Viewpoint - SJW Group's subsidiary, San Jose Water Company, along with three other California water utilities, has received approval from the California Public Utilities Commission to defer their 2025 Cost of Capital filings to May 1, 2026, which is aimed at reducing administrative costs for both the utilities and the CPUC [1][2]. Group 1: Cost of Capital Filings - The Joint Parties initially requested a one-year postponement of their Cost of Capital filings scheduled for May 1, 2025, which was previously granted by the CPUC [2]. - The last Cost of Capital decision was issued on June 29, 2023, and the Joint Parties are required to file these applications every three years [2]. - The new filing date of May 1, 2026, will be effective from January 1, 2027 [7]. Group 2: Water Cost of Capital Mechanism - The Water Cost of Capital Mechanism (WCCM) will remain in place until January 1, 2027, allowing the return on equity to adjust based on the Moody's Aa Utility Bond Index [3][7]. - The Water Conservation Memorandum Account (WCMA) is a temporary revenue protection mechanism due to a voluntary 15% water reduction request from San Jose Water's wholesaler [3]. Group 3: Company Overview - SJW Group is one of the largest investor-owned water and wastewater utilities in the U.S., serving nearly 1.6 million people [4]. - The company operates several water utilities across different states, including California, Connecticut, Maine, and Texas, focusing on environmental protection and customer service [4].