Thu, Jul 25, 8:59 PM (44 days ago)
SJW Group's Q2 2024 financial report highlights a 12% increase in operating revenue to $176.2M and an 8% rise in operating expenses to $135.6M, compared to Q2 2023. The net income for Q2 2024 was $20.7M, up from $18.3M in Q2 2023, driven by rate increases and higher customer usage, offset by increased water production costs and depreciation. For the first half of 2024, net income rose to $32.4M from $29.8M in the same period in 2023. Cash flow from operations increased to $100.5M. The company plans $332M in utility capital expenditures for 2024, with $158.4M already invested. Upcoming regulatory changes and capital expenditures, particularly for PFAS treatment, are expected to impact future operations.