New Jersey Resources (NJR) Misses Q3 EPS by 2c, Raises FY EPS Guidance

New Jersey Resources (NYSE: NJR) reported Q3 EPS of $0.03, $0.02 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $458.5 million versus the consensus estimate of $678.42 million.

New Jersey Resources sees FY2015 EPS of $1.70-$1.80, versus prior guidance of $1.65-$1.75 and the consensus of $1.73.

NJR expects NJNG to be the largest contributor to fiscal 2015 NFE. Steady growth at NJNG continues to be supported by customer growth in both the new construction and conversion markets, regulatory initiatives that earn current returns, as well as its Basic Gas Supply Service (BGSS) incentive programs.

The following chart represents the NFE contributions NJR currently expects from its businesses in fiscal 2015:

Company

Expected Fiscal 2015Net Financial Earnings Contribution

New Jersey Natural Gas 50 to 60 percent
NJR Midstream 5 to 10 percent
Total Regulated 55 to 70 percent
NJR Energy Services 20 to 30 percent
NJR Clean Energy Ventures 10 to 20 percent
NJR Home Services 1 to 5 percent

For earnings history and earnings-related data on New Jersey Resources (NJR) click here.

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