New Jersey Resources Q4 Profit Tops Estimates

(RTTNews) - New Jersey Resources Corp. (NJR) reported fourth-quarter net financial earnings of $47.9 million, or $0.50 per share, compared to $6.6 million, or $0.07 per share, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts' estimates typically exclude special items.

Net income was $54.5 million, or $0.56 per share, compared with a net loss of $1.1 million, or $0.01 per share, prior year.

Total operating revenues increased to $765.49 million from $532.53 million, last year. Analysts on average had estimated $428.91 million in revenue.

Looking forward, the company introduced fiscal 2023 net financial earnings per share guidance range of $2.42 to $2.52. The company maintained long-term projected NFEPS growth rate of 7 to 9 percent.

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