New Jersey Resources Q1 Profit Rises; Lifts FY22 NFE Outlook - Quick Facts

(RTTNews) - New Jersey Resources Corp. (NJR) on Thursday reported that its first-quarter net income rose to $81.0 million or $0.84 per share from $75.8 million or $0.82 per share last year.

Net financial earnings or NFE for the quarter were $44.7 million or $0.46 per share, compared to $34.9 million or $0.38 per share in the previous year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter declined to $454.31 million from $6145.04 million in the prior-year quarter.

For fiscal 2021, NJR reaffirmed its outlook for NFE in a range of $1.55 to $1.65 per share. The Street expects the company to report earnings of $1.61 per share for the year.

NJR also increased its fiscal 2022 NFE guidance to a range of $2.20 to $2.30 per share from its previously issued guidance range of $2.05 to $2.15 per share. Analysts expect earnings of $2.13 per share for the year.