SJW Group Reaffirmed 2024 Guidance: Sees EPS Of $2.68 To $2.78 Vs. $3.00 Consensus
$SJW
Water Supply
Utilities
2024 Guidance Reaffirmed
The company's 2024 full-year guidance is reaffirmed and includes:
- Net income per diluted common share of $2.68 to $2.78; and,
- Regulated infrastructure investments of approximately $332 million
In addition, we reiterate our non-linear long-term diluted EPS growth of 5% to 7%, anchored off 2022's diluted EPS of $2.43.
When considering the company's 2024 guidance relative to actual results in 2023 of $2.68 diluted EPS, it is important to note that the company's adjustment to income tax reserves in 2023 resulted in an increase of $0.14 per diluted share.
Our guidance is subject to risks and uncertainties, including, without limitation, those factors outlined in the "Forward Looking Statements" of this release and the "Risk Factors" section of the company's annual and quarterly reports filed with the Securities and Exchange Commission.