New Jersey Resources Raises Bottom End Of FY13 Earnings Outlook Range

(RTTNews) - New Jersey Resources Corp. (NJR) said Wednesday that it now expects fiscal 2013 net financial earnings to be $2.70 to $2.75 per basic share, compared to its prior guidance of $2.65 to $2.75 per basic share.

"Once again, our company has benefitted from strong fundamentals at New Jersey Natural Gas along with better-than-expected gross margin from daily storage activity and northeast transportation results at NJR Energy Services, allowing us to raise the lower end of our earnings guidance range," said Laurence Downes, chairman and CEO of New Jersey Resources.

The company also announced initial net financial earnings guidance for fiscal 2014 of $2.75 to $2.95 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $2.65 per share for the fiscal 2013 and $2.77 per share for fiscal 2014.