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Jun 30, 2023
NJR Q3 2023 Earnings Report
NJR reported mixed results with a decrease in net income but an increase in net financial earnings compared to the same quarter last year.
Key Takeaways
New Jersey Resources Corporation reported a decrease in net income but an increase in net financial earnings for the third quarter of fiscal 2023. The company reaffirmed its fiscal 2023 net financial earnings per share guidance range and maintains its long-term projected NFEPS growth rate.
Consolidated net income was $1.5 million, down from $13.1 million in Q3 2022.
Consolidated net financial earnings (NFE) reached $9.7 million, or $0.10 per share, compared to a net financial loss of $(3.6) million, or $(0.04) per share, in Q3 2022.
NJR re-affirmed fiscal 2023 net financial earnings per share (NFEPS) guidance range of $2.62 to $2.72.
The company maintains a long-term projected NFEPS growth rate of 7 to 9 percent.
NJR
NJR
NJR Revenue by Segment
Revenue by Segment
Natural Gas Distribution Revenue
CapyFin.comClean Energy Ventures Revenue
CapyFin.com Forward Guidance
NJR re-affirmed its fiscal 2023 NFE guidance range of $2.62 to $2.72.
Revenue & Expenses
Visualization of income flow from segment revenue to net income