New Jersey Resources Corp. Q4 Financial Earnings Declines - Quick Facts

(RTTNews) - New Jersey Resources Corporation (NJR) reported that its fourth quarter net financial earnings totaled $6.6 million, or $0.07 per share, compared to $43.4 million, or $0.45 per share, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.08, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net loss was $1.1 million, or $0.01 per share, compared to net income of $32.7 million, or $0.34 per share, a year ago. Total operating revenues increased to $532.53 million from $400.04 million, prior year. Analysts on average had estimated $380.5 million in revenue.

The company affirmed fiscal 2022 net financial earnings per share guidance range of $2.20 to $2.30. NJR narrowed long-term projected net financial earnings per share growth rate to 7 to 9 percent, from previous range of 6 to 10 percent.

Shares of New Jersey Resources were down 2% in pre-market trade on Thursday.