New Jersey Resources Corporation ( (NJR) ) has released its Q3 earnings. Here is a breakdown of the information New Jersey Resources Corporation presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
New Jersey Resources Corporation (NJR) is a Fortune 1000 company that provides natural gas and clean energy services through its subsidiaries, operating primarily in the energy sector with a focus on transportation, distribution, and asset management.
In its fiscal 2025 third-quarter earnings report, NJR announced a consolidated net loss of $15.1 million, or $0.15 per share, compared to a net loss of $11.6 million, or $0.12 per share, in the same quarter of the previous year. Despite the quarterly loss, the company reported a significant year-to-date net income of $320.6 million, or $3.20 per share, showing a substantial increase from $198.6 million, or $2.02 per share, in fiscal 2024.
Key financial highlights include an improvement in net financial earnings (NFE) to $6.2 million, or $0.06 per share, from a net financial loss of $8.9 million, or $0.09 per share, in the prior year’s third quarter. The company also raised the lower end of its fiscal 2025 net financial earnings per share (NFEPS) guidance by $0.05, now ranging from $3.20 to $3.30. The New Jersey Natural Gas segment showed a notable increase in NFE due to higher utility gross margins, while Clean Energy Ventures benefited from the sale of its residential solar portfolio.
Looking ahead, NJR remains optimistic about its long-term growth, maintaining a 7 to 9 percent growth target for NFEPS. The company continues to focus on its diversified business model to drive stable growth and deliver consistent performance for its shareholders.