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Jun 30, 2022
NJR Q3 2022 Earnings Report
NJR's results for Q3 2022 were reported, with an increase in earnings guidance for fiscal year 2022.
Key Takeaways
New Jersey Resources reported a consolidated net income of $13.1 million for the third quarter of fiscal 2022, a significant improvement compared to the net loss of $(111.8) million in the same quarter of the previous year. The company's performance was driven by strong results at New Jersey Natural Gas Company (NJNG), higher financial margin at Energy Services, and increased wholesale electricity revenue at Clean Energy Ventures (CEV). As a result, NJR increased its fiscal 2022 net financial earnings per share (NFEPS) guidance range to $2.40 to $2.50.
Consolidated net income reached $13.1 million, a significant improvement from the previous year.
Net financial loss was $(3.6) million, or $(0.04) per share, an improvement compared to the previous year.
Fiscal 2022 NFEPS guidance was increased to $2.40 to $2.50.
NJNG reported NFE of $2.6 million, driven by higher base rates.
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 increased its fiscal 2022 NFE guidance to $2.40 to $2.50 compared to the previously announced range of $2.30 to $2.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income