SJW - SJW beats Q4 top and bottom line estimates; initiates FY23 outlook

• SJW press release ( NYSE: SJW ): Q4 GAAP EPS of $1.09 beats by $0.06 .
• Revenue of $171.4M (+22.7% Y/Y) beats by $14.01M .
• The effective consolidated income tax rates for the quarters ended December 31, 2022 and 2021, were approximately 13% and 15%, respectively.
• The following is the company’s 2023 full-year guidance : Net income per diluted common share of $2.40 to $2.50;Non-linear long-term diluted EPS growth of 5% to 7%, anchored off of 2022 diluted EPS of $2.43 vs $2.49 consensus; and Regulated infrastructure investments of approximately $255 million in 2023.

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