California Updates & ESG Initiatives
2024 Guidance
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Guidance
Diluted EPS
2024
$2.68 - $2.78
2024
EPS Forecast
Equity issuance, excluding acquisition growth
5-Year CapEx
$55M to $65M
$1.6B2
$2.68 to $2.781
Factors underlying 2024 guidance:
A Return on Equity (ROE) increase in California from 9.31% to 9.81% (net of a 20 bps reduction for
reimplementation of the WCMA) effective January 1, 2024
The impact of the completed Biddeford-Saco rate case with a 9.5% ROE and 51% equity / 49% debt
capital structure effective January 1, 2024
Constructive regulatory decisions on current and prospective regulatory filings
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14-cents of 2023 diluted EPS was due to the partial release of income tax reserves
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Strategic reinvestments in the business in 2024
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Guidance range consistent with long-term growth rate
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Long-term growth rate: 5% - 7%
Nonlinear and anchored off of 2022 diluted EPS of $2.43
1 SJW Group's earnings guidance is subject to numerous risks and uncertainties, including, without limitation, those factors described in the "Forward-Looking Statements" on slide 33 and the "Risk Factors" section of the
company's annual and quarterly reports filed with the Securities and Exchange Commission
2 Five-year CapEx includes approximately $230 million for PFAS treatment
SJW Group 29View entire presentation