SJW Group backs FY23 EPS $2.40-$2.50, consensus $2.46

Sees FY23 regulated infrastructure investments $255M. The company said, "Guidance for 2023 is based on constructive outcomes in the SJWC Cost of Capital proceeding in California that is currently in progress, the general rate case proceeding for Maine’s Biddeford-Saco Division filed on March 30, 2023, and usage recovery associated with the end of mandatory water conservation combined with the temporary decoupling mechanism in California. It further assumes average weather conditions in Maine and Texas, and revenue protection in Connecticut via the Water Revenue Adjustment that reconciles actual revenues to authorized revenues."