New Jersey Resources Announces FY20 Earnings Guidance - Quick Facts

(RTTNews) - New Jersey Resources (NJR) announced, for fiscal 2020, the company projects net financial earnings per share in a range of $2.05 to $2.15. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.14. Analysts' estimates typically exclude special items.

Fourth-quarter basic net financial earnings per share was $0.29 compared to a net financial loss of $0.33 per share, last year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.29, for the quarter. Analysts' estimates typically exclude special items.

The company said the increase in its fourth quarter results were primarily due to contributions at Clean Energy Ventures or CEV. Clean Energy Ventures placed seven commercial solar installations into service, adding 51.8 megawatts to total installed capacity.

Fourth-quarter total operating revenues declined to $479.08 million from $647.33 million, prior year.

New Jersey Resources increased its annual dividend rate by 6.8 percent to $1.25 per share.