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Dec 31, 2024
NJR Q1 2025 Earnings Report
NJR reported consolidated net income and net financial earnings for the fiscal year 2025 first quarter.
Key Takeaways
New Jersey Resources reported a strong start to fiscal year 2025, with increased net income and net financial earnings compared to the previous year, driven by new base rates at NJNG and a gain on sale of assets from CEV's residential solar portfolio.
NJR reported fiscal 2025 first-quarter consolidated net income of $131.3 million, or $1.32 per share.
Consolidated net financial earnings (NFE) were $128.9 million, or $1.29 per share, in the first quarter of fiscal 2025.
NJNG received approval for a $157.0 million annual increase to its base rates, effective November 21, 2024.
CEV completed the sale of its 91 MW residential solar portfolio for $132.5 million.
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 maintained its fiscal 2025 NFEPS guidance range of $3.05 to $3.20. Fiscal 2025 NFEPS guidance is higher than the range implied by our 7 to 9 percent long-term NFEPS growth target as a result of the one-time gain from the sale of NJR’s residential solar portfolio.
Revenue & Expenses
Visualization of income flow from segment revenue to net income