New Jersey Resources Q2 Profit Increases

(RTTNews) - New Jersey Resources Corp. (NJR) Wednesday announced an increase in second quarter net financial earnings to $73.328 million or $0.85 per share from $60.903 million or $0.71 per share in the prior year. Net financial earnings was $77.88 million or $0.91 per share.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.91 per share. Analysis estimates usually exclude special items.

Operating revenue for the quarter declined to $574.19 million from $1.013 billion in the prior year. Wall Street was looking for $1.08 billion.

Looking ahead, the company reaffirmed its net financial earnings guidance for the year in the range of $1.55 to $1.65 per share. Analysts expect $1.64 per share on revenue of $2.68 billion. The company expects New Jersey Natural Gas net financial earnings contribution to be 60 to 70 percent and total regulated earnings contribution to be 65 to 80 percent.