Note: EPS may not be comparable

New Jersey Resources (NYSE: NJR) reported Q1 EPS of $1.56, versus $0.59 reported last year. Revenue for the quarter came in at $705.3 million versus the consensus estimate of $564.47 million.

• Consolidated net income was $123.7 million for the first quarter of fiscal 2018, compared with $34.9 million for the same period in fiscal 2017. This includes an estimated benefit from tax reform of $57.6 million due to revaluation of deferred taxes recognized during this quarter.
• Consolidated net financial earnings (NFE), a non-GAAP financial measure, were $135.3 million for the first quarter of fiscal 2018, compared with $40.4 million during the same period in fiscal 2017.
• NJR raised its fiscal 2018 NFE guidance to $2.55 to $2.65 from $1.75 to $1.85 per share.
• Long-term annual NFE per share growth rate range adjusted to 6 to 8 percent.
• Energy Services reported first-quarter fiscal 2018 NFE of $20.3 million, compared with $3.5 million during the same period in fiscal 2017, driven by strong market demand due to colder weather in December 2017.

GUIDANCE:

New Jersey Resources sees FY2018 EPS of $2.55-$2.65, versus the consensus of $1.82.

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