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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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