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Sep 30, 2020
NJR Q4 2020 Earnings Report
Reported fourth-quarter and fiscal year 2020 results.
Key Takeaways
New Jersey Resources reported a solid fourth quarter and fiscal year 2020, achieving NFE in line with guidance. The company's performance was driven by its diversified portfolio of energy infrastructure investments and commitment to safe, reliable, and clean energy.
Fourth-quarter net income totaled $43.3 million, or $0.45 per share, compared to $18.1 million, or $0.20 per share, during the same period last year.
Fourth-quarter NFE totaled $54.7 million, or $0.57 per share, compared to $26.0 million, or $0.29 per share, during the same period last year.
Fiscal 2020 net income totaled $193.9 million, or $2.05 per share, compared with $169.5 million, or $1.90 per share, in fiscal 2019.
Fiscal 2020 NFE totaled $196.2 million, or $2.07 per share, in-line with the previously announced guidance range, compared with $175.0 million, or $1.96 per share, in fiscal 2019.
NJR
NJR
Forward Guidance
The Company today provided its fiscal 2021 guidance and long-term financial targets. NJR will host a virtual Analyst Day today at 8:30 a.m. ET and the senior leadership team will discuss the Company's strategic value proposition and long-term financial growth targets, as well as its year-end fiscal 2020 earnings results.