New Jersey Resources (NJR) Tops Q2 EPS by 62c, Beats on Revenues

New Jersey Resources (NYSE: NJR) reported Q2 EPS of $1.59, $0.62 better than the analyst estimate of $0.97. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $749.71 million.

• Consolidated net income of $140.3 million for the second quarter of fiscal 2018, compared with $114.7 million for the same period in fiscal 2017.
• Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $142.1 million for the second quarter of fiscal 2018, compared with $104.1 million during the same period in fiscal 2017.
• Fiscal 2018 NFE guidance reaffirmed at a range of $2.55 to $2.65 per share.
• Energy Services continued to deliver strong results, reporting second-quarter fiscal 2018 NFE of $72.8 million, compared with $15.7 million during the same period in fiscal 2017, as a result of strong demand and market volatility due to cold weather during the quarter.
• NJNG seeks to significantly expand its energy-efficiency programs with its $341 million filing with the New Jersey Board of Public Utilities (BPU).

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

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