New Jersey Resources Q1 Profit Increases

(RTTNews) - New Jersey Resources Corp. (NJR) reported that its first quarter net income increased to $111.3 million or $1.16 per share from $81.0 million or $0.84 per share last year.

Net financial earnings were $65.8 million or $0.69 per share, compared to $44.7 million or $0.46 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues grew to $675.8 million from $454.31 million in the prior year. Analysts expected revenues of $447 million for the quarter.

The company reaffirmed fiscal 2022 Net financial earnings guidance of $2.20 to $2.30 per share. Analysts project annual earnings of $2.26 per share