Dividend Growth and Regulatory Update
Forward-Looking Statements
SJW Group
Safe Harbor
This presentation contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended. Some of these
forward-looking statements can be identified by the use of forward-looking words
such as "believes," "expects," "may," "will," "should," "seeks," "approximately,"
"intends," "plans," "estimates," "projects," "strategy," or "anticipates," or the
negative of those words or other comparable terminology. These forward looking
statements are only predictions and are subject to risks, uncertainties and
assumptions that are difficult to predict.
The accuracy of such statements is subject to a number of risks, uncertainties and
assumptions including, but not limited to, the following factors: (1) the effect of
water, utility, environmental and other governmental policies and regulations,
including actions concerning rates, authorized return on equity, authorized capital
structures, capital expenditures and other decisions; (2) changes in demand for
water and other services; (3) the impact of the Coronavirus ("COVID-19")
pandemic on our business operations and financial results; (4) unanticipated
weather conditions and changes in seasonality, including those affecting water
supply and customer usage; (5) climate change and the effects thereof; (6)
unexpected costs, charges or expenses; (7) our ability to successfully evaluate
investments in new business and growth initiatives; (8) contamination of our water
supplies and damage or failure of our water equipment and infrastructure, (9) the
risk of work stoppages, strikes and other labor-related actions; (10) catastrophic
events such as fires, earthquakes, explosions, floods, ice storms, tornadoes,
hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic or similar
occurrences; (11) changes in general economic, political, business and financial
market conditions; (12) the ability to obtain financing on favorable terms, which can
be affected by various factors, including credit ratings, changes in interest rates,
compliance with regulatory requirements, compliance with the terms and
conditions of our outstanding indebtedness, and general market and economic
conditions; and (13) legislative and general market and economic developments.
Results for a quarter are not indicative of results for a full year due to
seasonality and other factors. In addition, actual results are subject to other
risks and uncertainties that relate more broadly to our overall business, including
those more fully described in our filings with the SEC, including our most recent
reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are
not guarantees of performance. All information included in this presentation is as of
December 31, 2021, unless stated otherwise, and we undertake no obligation to
update or revise any forward-looking statements except as required by law.
Use of Non-GAAP Financial Information
In this presentation, the Company will be discussing the non-GAAP financial
measure of Adjusted EBITDA, which is adjusted from results based on GAAP.
This non-GAAP financial measure is provided to enhance the investors' overall
understanding of the Company's current financial performance and the Company's
prospects for the future. We have presented Adjusted EBITDA because we
believe it serves as an appropriate measure to be used in evaluating the
performance of our business and help our investors better compare our operating
performance over multiple periods and that the exclusion of the amounts
eliminated in calculating Adjusted EBITDA can provide a useful measure for
period-to-period comparisons of our core business performance.
Non-GAAP measures should not be viewed as a substitute for the Company's
financial statements prepared in accordance with GAAP. The Company's use of
non-GAAP financial measures has certain limitations in that such non-GAAP
financial measures may not be directly comparable to those reported by other
companies. Other companies may use the same or similarly named measures, but
exclude different items, which may not provide investors with a comparable view of
our performance in relation to other companies. We seek to compensate for the
limitation of the non-GAAP presentation by providing a detailed reconciliation of
Adjusted EBITDA to net income in Appendix 1.
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