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Dec 31, 2022
NJR Q1 2023 Earnings Report
NJR reported strong Q1 2023 results, driven by solid operating performance during Winter Storm Elliott and raised its fiscal year 2023 NFEPS guidance.
Key Takeaways
New Jersey Resources reported a strong first quarter of fiscal 2023, with net income of $115.9 million and net financial earnings (NFE) of $110.3 million, or $1.14 per share. The company raised its fiscal 2023 NFEPS guidance to a range of $2.62 to $2.72, driven by an exceptional quarter from Energy Services and favorable contributions from New Jersey Natural Gas (NJNG) and Storage and Transportation.
Consolidated net income reached $115.9 million.
Consolidated net financial earnings (NFE) amounted to $110.3 million, or $1.14 per share.
Fiscal 2023 net financial earnings per share (NFEPS) guidance increased to a range of $2.62 to $2.72.
NJNG added 2,132 new customers during the quarter.
NJR
NJR
NJR Revenue by Segment
Revenue by Segment
Natural Gas Distribution Revenue
CapyFin.comClean Energy Ventures Revenue
CapyFin.comEnergy Services Revenue
CapyFin.comStorage and Transportation Revenue
CapyFin.comHome Services and Other Revenue
CapyFin.com Forward Guidance
NJR is raising its fiscal 2023 NFE guidance by $0.20 to a range of $2.62 to $2.72.
Revenue & Expenses
Visualization of income flow from segment revenue to net income