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In a recent move by SJW (NYSE:SJW) Group (NASDAQ:SJW), a $1.84 billion water utility company currently trading at $54.69, Ann P. Kelly will ascend to the role of Chief Financial Officer and Treasurer starting July 1, 2025, as disclosed in an 8-K filing with the Securities and Exchange Commission. According to InvestingPro data, the company has maintained profitability over the last twelve months with revenues of $748.44 million. Kelly, currently serving as Chief Accounting Officer and Principal Accounting Officer, will succeed Andrew F. Walters, who is set to become the Chief Executive Officer on the same date.
The company’s Executive Compensation Committee has approved Kelly’s new compensation package, which includes an annual base salary of $480,000, a target annual incentive cash compensation opportunity of 55% of her base salary, and a target annual long-term incentive opportunity valued at $350,000, in line with the company’s 2023 Long-Term Incentive Plan. Additionally, SJW Group will cover up to $75,000 of Kelly’s relocation expenses to a location closer to one of the company’s service territories. The compensation package reflects the company’s strong financial position, with InvestingPro analysis showing a P/E ratio of 19.87.
This transition comes as part of SJW Group’s leadership restructuring, aiming to maintain the company’s strategic direction and financial management as it navigates the water supply industry. InvestingPro analysis indicates the company has maintained dividend payments for 54 consecutive years, demonstrating long-term financial stability. The information regarding these executive changes is based on a press release statement. For deeper insights into SJW Group’s financial health and performance metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, SJW Group reported a strong financial performance for the fourth quarter of 2024, with earnings per share (EPS) reaching $0.74, surpassing the forecasted $0.55. The company’s revenue for the same period also exceeded expectations, totaling $197.82 million compared to the anticipated $193.72 million. For the full year, SJW Group’s revenue grew by 12% to $748.4 million, while GAAP net income increased by 11% to $94 million. In a strategic move, SJW Group announced a 25% increase in its five-year capital plan, raising it to approximately $2 billion for 2025-2029, to bolster infrastructure and water quality investments. Additionally, S&P Global revised its outlook for SJW Group and its Connecticut subsidiaries to stable from negative, citing improved financial measures. The company also named Ann P. Kelly as its new Chief Financial Officer, effective July 2025, following the retirement announcement of current CEO Eric W. Thornburg. These developments come as SJW Group continues to focus on strategic investments and regulatory engagement across its diverse operations.
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