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Dec 31, 2025
NJR Q1 2026 Earnings Report
New Jersey Resources reported lower net income year over year while demonstrating strong segment performance and raising full-year guidance.
Key Takeaways
New Jersey Resources delivered solid fiscal 2026 first-quarter results, with strong contributions from Energy Services and New Jersey Natural Gas, offsetting lower Clean Energy Ventures earnings due to a prior-year asset sale comparison. Management raised full-year net financial earnings guidance.
Energy Services benefited from natural gas price volatility, driving higher earnings.
New Jersey Natural Gas saw improved margins from a full base rate case settlement impact.
Clean Energy Ventures earnings declined due to a prior-year one-time asset sale gain.
Management increased fiscal 2026 net financial earnings per share guidance.
Revenue by Segment
Forward Guidance
Management raised fiscal 2026 net financial earnings per share guidance following strong early second-quarter performance.
Positive Outlook
- Raised fiscal 2026 NFEPS guidance to $3.28–$3.43.
- Strong Energy Services performance driven by market volatility.
- Diversified business model continues to support earnings growth.
- Continued investment in regulated utility infrastructure.
- Long-term NFEPS growth target of 7–9% maintained.
Challenges Ahead
- Earnings remain sensitive to commodity price volatility.
- Regulatory and rate case outcomes could impact future margins.
- Capital-intensive growth plan increases execution risk.
- Clean Energy Ventures results can be volatile quarter to quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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