New Jersey Resources Reports Net Financial Profit In Q3; Re-affirms FY23 Net Financial EPS Guidance

(RTTNews) - New Jersey Resources Corp. (NJR) reported third-quarter net income of $1.5 million, or $0.02 per share, compared with net income of $13.1 million, or $0.14 per share, last year. Net financial earnings or NFE, totaled $9.7 million, or $0.10 per share, compared to a net financial loss of $3.6 million, or $0.04 per share, prior year. On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.05, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total operating revenues declined to $264.07 million from $552.33 million, last year. Analysts on average had estimated $470.97 million in revenue.

The company re-affirmed fiscal 2023 net financial earnings per share guidance range of $2.62 to $2.72. The company maintained long-term projected NFEPS growth rate of 7 to 9 percent.

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