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Mar 31, 2020
NJR Q2 2020 Earnings Report
Reported positive results in Q2 2020 driven by strong performance in regulated business, offset by challenges in energy services.
Key Takeaways
New Jersey Resources reported a net income of $88.5 million, or $0.93 per share, for the second quarter of fiscal 2020, compared to $73.6 million, or $0.83 per share, for the same period in fiscal 2019. The company reaffirmed its fiscal 2020 NFE guidance range of $2.05 to $2.15 per share.
Net income for the second quarter of fiscal 2020 was $88.5 million, or $0.93 per share, compared to $73.6 million, or $0.83 per share, in the same period of fiscal 2019.
Second quarter fiscal 2020 NFE totaled $106.9 million, or $1.12 per share, compared with NFE of $112.4 million, or $1.27 per share, during the same period last year.
NJR reaffirmed fiscal 2020 NFE guidance range of $2.05 to $2.15 per share.
NJNG reported second quarter fiscal 2020 NFE of $86.3 million, compared with $68.5 million during the same period in fiscal 2019, driven primarily by the base rate increase from NJNG's recent rate case settlement and lower O&M expenses.
NJR
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Forward Guidance
NJR reaffirmed fiscal 2020 NFE guidance range of $2.05 to $2.15 per share, subject to the risks and uncertainties.