SJW (US:SJW)2025-10-27 23:52Financial Performance - Net income for Q3 2025 was $45.1 million, a 17% increase from $38.7 million in Q3 2024, with diluted EPS rising 9% to $1.27[4] - Adjusted net income for Q3 2025 was $45.5 million, reflecting a 17% increase compared to $39.0 million in the prior-year period[4] - Net income for Q3 2025 reached $45,132,000, up 16.2% compared to $38,652,000 in Q3 2024[34] - Adjusted net income (non-GAAP) for Q3 2025 was $45,450,000, reflecting a 16.3% increase from $38,953,000 in Q3 2024[40] - Operating revenue for Q3 2025 reached $240.6 million, a 7% increase from $225.1 million in the same quarter last year, driven by rate increases of $21.2 million[6] - Operating revenue for Q3 2025 was $240,550,000, an increase of 6.6% from $225,063,000 in Q3 2024[34] - Year-to-date operating revenue was $606.4 million, a 10% increase from $550.6 million in the same period last year, primarily due to rate increases of $56.0 million[11] Earnings Guidance - The company narrowed its 2025 adjusted diluted EPS guidance to $2.95 to $3.00, based on strong year-to-date results[20] Capital Expenditures and Investments - Capital expenditures through September 30, 2025, totaled $357.8 million, approximately 74% of the increased forecast of $486.0 million for the year[13] Dividends - The company declared a quarterly cash dividend of $0.42 per share, with an expected annualized dividend of $1.68 for 2025[21] - The company declared dividends per share of $0.42 for Q3 2025, an increase from $0.40 in Q3 2024[34] Tax and Expenses - The effective consolidated income tax rate for Q3 2025 was approximately 11%, compared to 5% in Q3 2024[9] - Total operating expenses for Q3 2025 were $175,923,000, up from $166,710,000 in Q3 2024, representing a 5.3% increase[34] Company Growth and Connections - Active connections increased by 11.5%, or 5,400 connections, from December 31, 2024, to September 30, 2025[8] Assets and Equity - The company reported a total utility plant value of $4,900,436,000 as of September 30, 2025, compared to $4,525,061,000 at the end of 2024[36] - Stockholders' equity increased to $1,523,663,000 as of September 30, 2025, up from $1,366,974,000 at the end of 2024[38] - The company’s long-term debt, less current portion, was $1,756,955,000 as of September 30, 2025, compared to $1,706,904,000 at the end of 2024[38] - Cash and cash equivalents stood at $11,314,000 as of September 30, 2025, slightly up from $11,114,000 at the end of 2024[36] Acquisitions - H2O America is progressing with the acquisition of Quadvest and has secured key regulatory approvals, including a $3.1 million annualized revenue increase in Connecticut[3]