NJR
New Jersey Resources Corporation46.31
+0.02+0.04%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Leaf River contracts detailed; CEV tech upside.
Q&A clarified Leaf River expansion contracts cover initial cavern boosts to 43 Bcf by 2028, with strong open-season interest for a cheaper fourth cavern around 2029 but no deals yet. CEV upside emerged via batteries and distributed gen on existing sites, alongside 50% out-of-state pipeline and governor's permitting tailwinds. Energy services flashed more volatility potential beyond January's guidance raise. Analysts probed weather, regs, timelines—management answered directly, no hedges. Details matter for growth thesis. Confident tone intact.
Key Stats
Market Cap
4.67BP/E (TTM)
13.91Basic EPS (TTM)
3.33Dividend Yield
0.04%Recent Filings
10-Q
Q1 FY2026 results
New Jersey Resources posted Q1 FY2026 operating revenues of $604.9M, up 23.8% y/y, with operating income at $179.2M (down 5.5% y/y) and diluted EPS of $1.21 (down 7.6% y/y, reconciles to 101.2M shares). Utility revenues surged 23% y/y on higher firm sales and base rates, while nonutility jumped 26% y/y led by ES volatility; CEV fell post prior-year residential solar sale. Operating cash flow swung to $26.7M positive from $(9.0)M y/y (FCF not disclosed in the 10-Q). Short-term debt rose to $369M with $433M revolver availability; long-term debt steady at $3.3B. NJNG added 6,400 customers. Volatility in natural gas prices remains a key risk.
8-K
Raises FY26 NFEPS guidance
New Jersey Resources reported fiscal 2026 Q1 net income of $122.5 million ($1.22/share), down from $131.3 million ($1.32/share) due to CEV's prior-year solar sale gain, yet net financial earnings fell less sharply to $118.2 million ($1.17/share). NJNG surged to $83.8 million NFE on base rate impacts; Energy Services doubled to $16.3 million amid volatility. NJR raised FY2026 NFEPS guidance $0.25 to $3.28-$3.43. Guidance excludes derivative volatility.
8-K
Plan approved, accounting officer named
New Jersey Resources shareowners approved the 2026 Stock Award and Incentive Plan at the January 21, 2026 annual meeting, with 73.7 million for versus 2.1 million against. Board appointed Christopher D'Antuono as Principal Accounting Officer effective February 4, replacing Stephen Skrocki, now Chief Risk Officer. Five directors elected to three-year terms. Leadership transitions tighten finance controls.
10-K
FY2025 results
New Jersey Resources posted FY2025 net income of $335.6M, up 15.8% y/y, driven by NJNG's $80.1M earnings surge from a $157M base rate hike effective November 2024 (7.08% return on rate base) that boosted utility firm gross margin 26.8% to $663.3M on steady 68.6 Bcf throughput. CEV added $27.5M from residential solar sale ($56.2M gain), though ES dropped $65.9M on AMA timing and higher gas costs; Q4 momentum showed NJNG throughput holding firm at 99.6 Bcf annually amid warmer weather (5.5% above normal). Liquidity stayed solid with $575M/$250M NJR/NJNG facilities ($401M/$206M available), $34M annual AMA inflows through 2031 and $450M capex (IIP/SAVEGREEN). No FY2026 guidance disclosed. Cybersecurity threats loom large.
8-K
NJR tops FY25 NFEPS guidance
New Jersey Resources hit the high end of FY2025 NFEPS guidance at $3.29, up 11.5% from $2.95, fueled by NJNG's base rate settlement and record $98 million SAVEGREEN investment. CEV added record 93 MW solar capacity; S&T advanced FERC filings. Fiscal 2026 NFEPS guidance: $3.03-$3.18. Utility dominates earnings.
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