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SJW Group Announces 2017 Annual and Fourth Quarter Financial Results

SJW Group (DE) (SJW) 
Last sjw group (de) earnings: 2/26 07:39 pm Check Earnings Report
US:NYSE Investor Relations: sjwgroup.com/investor_relations
Company Research Source: Business Wire
SAN JOSE, Calif.--(BUSINESS WIRE)-- SJW Group (NYSE: SJW) today reported financial results for the annual and fourth quarter ended December 31, 2017. SJW Group net income was $59.2 million for the year ended December 31, 2017, compared to $52.8 million for the same period in 2016. Diluted earnings per share were $2.86 and $2.57 for the years ended December 31, 2017 and 2016, respectively. Operating revenue was $389.2 million for the year ended December 31, 2017 compared to $339.7 million in 2016. The $49.5 million increase in revenue was primarily attributable to $41.1 million in cumulative rate changes, $15.4 million in higher customer usage, $1.2 million in revenue from new customers, $885,000 change in the net recognition of certain other balancing and memorandum accounts, $515,000 increase in recycled water revenue, and $179,000 in higher revenue recorded in our Water Conservation Memorandum Account Show less Read more
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