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Dec 31, 2019
NJR Q1 2020 Earnings Report
Reported first quarter fiscal 2020 results.
Key Takeaways
New Jersey Resources reported consolidated net income of $89.4 million, compared to $86.2 million in the first quarter of fiscal 2019. The company reaffirmed its NFE guidance of $2.05 to $2.15 for fiscal year 2020.
Consolidated net income reached $89.4 million, up from $86.2 million in Q1 2019.
Consolidated non-GAAP NFE was $40.4 million, or $0.44 per share, compared to $54.1 million, or $0.61 per share, in Q1 2019.
NJNG received approval from the BPU on its rate case settlement agreement.
The Adelphia Gateway project received its Certificate of Public Convenience and Necessity from FERC and the company closed the acquisition of the Leaf River Energy Center.
NJR
NJR
Forward Guidance
NJR reaffirmed fiscal 2020 NFE guidance of $2.05 to $2.15 per share.