NJR reports FY2024 NFEPS $2.95 at high end of guidance; sells residential solar for $132.5M

NEW JERSEY RESOURCES CORP

2024-FY EPS reported $2.92 revenue$1,229,949,000

Fiscal 2024 net income $289.8M ($2.94 EPS); NFEPS $2.95, at high end of raised guidance.
Q4 net income $91.1M ($0.92 EPS) vs $37.0M ($0.38 EPS) YoY; NFE $88.7M ($0.89 EPS) vs $29.6M ($0.30 EPS).
Fiscal 2025 NFEPS guidance $3.05-$3.20; dividend increased 7.1% to $1.80/share.
Sold 91 MW residential solar portfolio to Spruce Power for $132.5M; expects gain in FY2025, proceeds for debt repayment.
NJNG base rate case settlement authorized $157M increase; $385.6M energy efficiency program approved.

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