NJR Q1 NFE falls to $72.4M ($0.74/share) YoY; raises FY2024 guidance to $2.85-$3.00

NEW JERSEY RESOURCES CORP

2024-Q1 EPS reported $0.91 revenue$321,191,000

Consolidated net income of $89.4M ($0.91 EPS) vs $115.9M ($1.20 EPS) in Q1 FY23.
Net financial earnings (NFE) of $72.4M, down 34% from $110.3M; Energy Services NFE fell to $7.8M from $52.5M due to lack of Winter Storm Elliott benefit.
FY2024 NFEPS guidance raised by $0.15 to $2.85-$3.00, citing strong January Energy Services performance; long-term growth rate of 7-9% maintained.
NJNG filed rate case seeking $222.6M delivery rate increase and $482.4M SAVEGREEN energy-efficiency program with NJ BPU.
Clean Energy Ventures posted NFE of $10.5M vs a loss of $3.6M in the prior-year quarter.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEW JERSEY RESOURCES CORP reported first quarter of fiscal 2024 results: net income $89.4 million, EPS $0.91 per share. Guidance raised.

Period: first quarter of fiscal 2024
Net income: $89.4 million
EPS: $0.91 per share
Guidance: raised
Result: reported results

Exact text from the filing

On February 6, 2024, New Jersey Resources Corporation (“NJR”) issued a press release reporting financial results for the first fiscal quarter ended December 31, 2023 (the “Press Release”).

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Source: SEC EDGAR

accession 0001140361-24-005775

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