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Jun 30
NJR Q3 2025 Earnings Report
New Jersey Resources reported its financial and operating results for the fiscal 2025 third quarter.
Key Takeaways
New Jersey Resources reported a consolidated net loss of $(15.1) million, or $(0.15) per share, in the third quarter of fiscal 2025. Despite the net loss, the company achieved consolidated net financial earnings (NFE) of $6.2 million, or $0.06 per share, a significant improvement compared to a net financial loss in the prior year. The company also raised the lower end of its fiscal 2025 net financial earnings per share (NFEPS) guidance, reflecting confidence in its diversified business model and operational resilience.
Consolidated net loss for Q3 fiscal 2025 was $(15.1) million, or $(0.15) per share.
Consolidated net financial earnings (NFE) for Q3 fiscal 2025 were $6.2 million, or $0.06 per share, an improvement from a net financial loss in the prior year.
The company raised the lower end of its fiscal 2025 NFEPS guidance by $0.05, to a range of $3.20 to $3.30.
New Jersey Natural Gas (NJNG) reported increased NFE due to higher utility gross margin from a recent base rate case settlement.
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
New Jersey Resources is raising the lower end of its fiscal 2025 Net Financial Earnings Per Share (NFEPS) guidance by $0.05, from a prior range of $3.15 - $3.30 to a new range of $3.20 to $3.30. This revised guidance is higher than the company's long-term NFEPS growth target due to a gain from the sale of its residential solar portfolio and strong performance from Energy Services. The company maintains its 7 to 9 percent long-term NFEPS growth target, based on a target of $2.83 per share for fiscal 2025.
Positive Outlook
- Raised the lower end of fiscal 2025 NFEPS guidance by $0.05, indicating improved financial outlook.
- Fiscal 2025 NFEPS guidance is higher than the long-term growth target due to a significant gain from the sale of the residential solar portfolio.
- Strong performance from the Energy Services segment contributed positively to the revised guidance.
- Maintains a robust 7 to 9 percent long-term NFEPS growth target, signaling confidence in sustained future performance.
- Management commentary highlights continued execution on strategy to drive stable growth through a diversified business model.
Challenges Ahead
- Management notes potential differences between reported GAAP net income and NFE due to energy-related derivatives, which are difficult to estimate.
- The NFEPS guidance is subject to various risks and uncertainties identified in the 'Forward-Looking Statements' section.
- No specific negative factors were highlighted in the forward guidance section, but general market and regulatory risks are implied.
- The company does not assume any obligation to review or revise forward-looking statements in light of new information, future events, or otherwise, except as required by law.
- The reconciliation of GAAP to non-GAAP measures indicates volatility from derivative instruments and physical commodity contracts.