NewJersey Resources Corporation
Description
New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets. The Clean Energy Ventures segment invests in, owns, and operates clean energy projects, including commercial and residential solar installation situated in New Jersey, Rhode Island, New York, Connecticut, Michigan, and Indiana. The Energy Services segment maintains and operates natural gas transportation and storage capacity contracts, as well as provides physical wholesale energy, retail energy and energy management services in the United States and Canada. The Storage and Transportation segment invests in invests in energy-related ventures. It provides heating, ventilation, and cooling services; sales and installation of appliances; offers solar equipment installation, and plumbing repair and installation services; and holds commercial real estate properties. The company was incorporated in 1981 and is headquartered in Wall, New Jersey.
About
CEO
Mr. Stephen D. Westhoven
Employees
1,350
Instrument type
Common Stock
Sector
Utilities
Industry
Utilities - Regulated Gas
MIC code
XNYS
Address
1415 Wyckoff Road, Wall, NJ 07719, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 25, 2025 | — | — | — | — |
| Aug 4, 2025 | — | — | — | — |
| May 5, 2025 | — | — | — | — |
| Feb 4, 2025 | — | — | — | — |
| Nov 26, 2024 | 0.88 | 0.89 | 0.01 | 1.14% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Current Year
(Sep 2025)
|
Next Year
(Sep 2026)
|
||
|---|---|---|---|---|
| Number of analysts | — | 6 | 8 | 8 |
| Average estimate | — | 1.57 | 3.10 | 3.12 |
| Low estimate | — | 1.35 | 2.90 | 3.06 |
| High estimate | — | 1.69 | 3.20 | 3.18 |
| Last year EPS | — | 1.41 | 2.95 | 3.10 |
[stock_revenue_estimate]
Growth estimates
Current qtr
43.920%
Next qtr. (Mar 2025)
11.310%
Current year (Sep 2025)
5.100%
Next year (Sep 2026)
0.700%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total reported revenue | 1.80B | 1.96B | 2.91B | 2.16B | 1.95B |
| Cost of revenue | 1.11B | 1.35B | 2.31B | 1.72B | 1.58B |
| Gross profit | 685.00M | 610.48M | 595.16M | 438.04M | 370.81M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | — | — | 59.44M | 38.30M | 34.53M |
| Other operating expenses | 60.33M | 50.54M | 59.44M | 38.30M | 34.53M |
| Operating income | 458.10M | 407.00M | 406.48M | 288.35M | 228.91M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 130.28M | 123.01M | 85.83M | 78.56M | 67.60M |
| Other income expense | 41.55M | 26.08M | 22.30M | 24.60M | 23.88M |
| Pretax income | 369.38M | 310.07M | 342.94M | 234.39M | 185.19M |
| Tax provision | 84.91M | 49.28M | 76.20M | 33.29M | 36.49M |
| Net income | 289.78M | 264.72M | 274.92M | 117.89M | 163.01M |
| Basic EPS | — | 2.73 | 2.86 | 1.23 | 1.72 |
| Diluted EPS | — | 2.71 | 2.85 | 1.22 | 1.71 |
| Basic average shares | — | 97.03M | 96.10M | 96.23M | 94.80M |
| Diluted average shares | — | 97.03M | 96.10M | 96.23M | 94.80M |
| EBITDA | 666.22M | 586.02M | 558.02M | 424.33M | 360.16M |
| Net income from continuing op. | 289.78M | 264.72M | 274.92M | 117.89M | 163.01M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total assets | 6.98B | 6.54B | 6.26B | 5.72B | 5.32B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 1.02M | 954,000 | 1.11M | 4.75M | 117.01M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 105.53M | 97.54M | 222.30M | 212.84M | 134.17M |
| Other receivables | — | — | — | — | — |
| Inventory | 237.61M | 226.52M | 293.97M | 213.17M | 187.91M |
| Prepaid assets | 78.82M | 52.79M | 63.07M | 59.38M | 30.94M |
| Restricted cash | 13.24M | 20.80M | 94.26M | 72.84M | 69.44M |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | 6.81M | 30.76M | 24.64M | 35.25M | 23.31M |
| Other current assets | 99.97M | 94.66M | 62.36M | 50.35M | 57.56M |
| Non current assets | |||||
| Properties | 2.02B | 1.94B | 1.75B | 1.30B | 1.24B |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | 440.16M | 380.20M | 361.77M | 547.54M | 556.40M |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -1.09B | -968.48M | -865.79M | -783.54M | -742.20M |
| Goodwill | 10.52M | 8.38M | 8.47M | 10.61M | 14.77M |
| Investment properties | — | — | — | — | — |
| Financial assets | 806,000 | 1.56M | 6.39M | 3.40M | 3.35M |
| Intangible assets | 10.52M | 8.38M | 8.47M | 10.61M | 14.77M |
| Investments and advances | 101.74M | 104.13M | 106.57M | 114.53M | 208.38M |
| Other non current assets | 92.42M | 90.04M | 60.41M | 49.92M | 85.66M |
| Total liabilities | 4.78B | 4.55B | 4.44B | 4.09B | 3.67B |
| Current liabilities | |||||
| Accounts payable | 227.62M | 203.93M | 392.48M | 393.06M | 238.24M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | 485.75M | 373.03M | 503.58M | 454.44M | 159.31M |
| Deferred revenue | 60.17M | 106.31M | 68.79M | 34.33M | 25.93M |
| Tax payable | 10.59M | 10.09M | 5.13M | 3.36M | 2.72M |
| Pensions | — | — | — | — | — |
| Other current liabilities | 58.89M | 72.27M | 96.64M | 131.46M | 75.62M |
| Non current liabilities | |||||
| Long term debt | 3.04B | 2.92B | 2.62B | 2.30B | 2.35B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 360.94M | 287.86M | 241.64M | 166.54M | 141.41M |
| Derivative product liabilities | 11.49M | 7.97M | 14.19M | 13.50M | 13.35M |
| Other non current liabilities | 10.33M | 13.26M | 9.09M | 11.96M | 10.58M |
| Shareholders equity | |||||
| Common stock | 248.16M | 243.46M | 241.62M | 240.64M | 240.24M |
| Retained earnings | 1.30B | 1.18B | 1.07B | 934.61M | 947.50M |
| Other shareholders equity | -6.52M | -9.96M | -4.83M | -34.53M | -44.32M |
| Total shareholders equity | 2.20B | 1.99B | 1.82B | 1.63B | 1.64B |
| Additional paid in capital | 633.81M | 558.65M | 519.70M | 502.58M | 491.98M |
| Treasury stock | -26.22M | -20.75M | 6.81M | 12.45M | -8.49M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||||||
| Net Income | 289.78M | 264.72M | 274.92M | 117.89M | 163.01M | 123.94M | 233.44M | 132.07M | 131.67M | 180.96M | 141.97M | 114.81M | 92.88M | 101.30M | 117.46M | 27.24M | 109.17M | 65.28M | 221.91M | 76.34M | 71.57M | 65.41M | 56.84M | 52.32M | 48.76M | 44.92M | 43.30M | 41.50M | 38.70M | 26.40M |
| Depreciation | 166.57M | 152.94M | 129.25M | 111.39M | 107.37M | 81.11M | 85.70M | 81.84M | 72.75M | 61.40M | 52.74M | 47.31M | 41.64M | 35.20M | 33.19M | 31.14M | 39.37M | 36.54M | 35.05M | 35.23M | 34.25M | 36.38M | 35.74M | 36.69M | 36.66M | 32.15M | 30.60M | 26.90M | — | — |
| Deferred Taxes | 84.52M | 29.87M | 81.52M | 23.64M | 34.99M | -1.53M | -57.20M | 42.73M | 29.48M | 46.82M | 18.84M | 41.08M | -5.32M | 35.03M | 68.46M | -31.44M | 13.72M | 17.76M | -11.90M | -2.41M | 3.79M | 15.22M | 18.76M | -2.40M | 18.61M | -2.79M | 7.00M | 4.70M | -7.20M | 6.50M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -45.24M | -23.95M | -36.99M | -44.59M | -31.69M | -26.84M | -10.14M | -20.60M | -46.24M | -17.44M | -12.06M | -35.93M | -35.67M | -28.54M | -26.37M | 72.69M | -9.37M | 5.17M | -184.36M | -8.49M | 3.92M | — | -17.19M | 5.54M | 3.26M | -6.12M | -11.00M | -11.40M | 23.00M | 35.90M |
| Accounts Receivable | -12.74M | 112.63M | -16.66M | -81.37M | 5.07M | 63.80M | -7.52M | -56.97M | 11.30M | 32.53M | 48.03M | -72.24M | 36.67M | -49.47M | -66.19M | 117.73M | -98.33M | 5.31M | 96.77M | -87.90M | -27.26M | 33.93M | -85.72M | 21.14M | -21.97M | -31.60M | -800,000 | -14.50M | -4.80M | -1.50M |
| Accounts Payable | 15.64M | 7.54M | -34.26M | 31.83M | 18.47M | 2.26M | 40.42M | 13.09M | -15.66M | -14.71M | 34.72M | 726,000 | -3.42M | 4.47M | 291,000 | -5.59M | -1.12M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -96.15M | 187.07M | -72.76M | -1.27M | -31.70M | 28.09M | 42.73M | 52.20M | -81.33M | 184.88M | 81.45M | -50.66M | -51.94M | 85.29M | -64.47M | 294.61M | -18.33M | -16.25M | -178.11M | 205.33M | -106.62M | -43.84M | 63.18M | -126.08M | 55.46M | 82.77M | -52.90M | 9.30M | 8.80M | 15.90M |
| Operating Cash Flow | 402.36M | 730.82M | 325.02M | 157.52M | 265.51M | 270.81M | 327.43M | 244.35M | 101.97M | 474.43M | 365.69M | 45.09M | 74.84M | 183.28M | 62.37M | 506.39M | 35.11M | 113.81M | -20.64M | 218.10M | -20.35M | 107.09M | 71.61M | -12.80M | 140.78M | 119.33M | 16.20M | 56.50M | 58.50M | 83.20M |
| Investing Activities | ||||||||||||||||||||||||||||||
| Capital Expenditures | — | — | — | — | -423.88M | — | — | 9.44M | 748,000 | — | 6.01M | — | -194.00M | -169.16M | -90.18M | -75.50M | -73.45M | -61.73M | -55.05M | -19.72M | -78.66M | -53.27M | -39.94M | -42.01M | -50.31M | -39.97M | -28.90M | -30.90M | 42.50M | -53.80M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | 5.48M | -690,000 | -2.12M | 201.64M | 5.12M | -85.17M | -13.07M | -5.78M | -555,000 | — | -8.80M | — | -4.30M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | -9,000 | — | — | -1.50M | — | — | -802,000 | — | -445,000 | -43.84M | -23.66M | — | — | -8.76M | — | — | — | — | — | — | -9.50M | -1.40M | -2.90M | -5.30M |
| Sale of Investments | — | — | — | — | — | 34.48M | 6.62M | 6.64M | 979,000 | 3.02M | 88,000 | 538,000 | — | 58,000 | 721,000 | — | — | — | — | 1.69M | — | 1.05M | 1.21M | — | — | — | — | — | — | — |
| Investing Cash Flow | — | — | 5.48M | -690,000 | -949.65M | 195.93M | 1.73M | -101.23M | -40.41M | -32.34M | 11.55M | -26.06M | -215.78M | -166.71M | -101.13M | -121.28M | -103.94M | -118.72M | -71.05M | -34.25M | -86.46M | -56.53M | -43.45M | -47.64M | -55.71M | -45.33M | -42.00M | -36.40M | 35.80M | -63.50M |
| Financing Activities | ||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 323.51M | 401.23M | 551.37M | 17.67M | 1.06B | 477.80M | 304.36M | 142.49M | 282.11M | 257.22M | 132.58M | 57.08M | 106.52M | 102.95M | 4.93M | 6.27M | 132.49M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -125.07M | -221.93M | -68.34M | -18.01M | -370.29M | -345.14M | -279.54M | -97.85M | -13.29M | -37.04M | -147.19M | -8.95M | -8.03M | -130.09M | -6.75M | -95.16M | -83.84M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -5.72M | -4.58M | -4.18M | -4.76M | -3.81M | -7.10M | -13.76M | -4.79M | -3.55M | -2.15M | -949,000 | 173,000 | 780,000 | 2.01M | 669,000 | 1.69M | 630,000 | 7.24M | 10.88M | 7.08M | 3.94M | 5.29M | 20.63M | -102,000 | — | — | 100,000 | — | — | — |
| Financing Cash Flow | 141.76M | 59.70M | 262.54M | 117.78M | 895.90M | -30.90M | -140.01M | 107.30M | 253.18M | -66.44M | -140.97M | 78.10M | 163.11M | -68.53M | -73.26M | -187.20M | -69.22M | -25.14M | -44.10M | -44.01M | -14.57M | -18.43M | -5.79M | -24.84M | -36.53M | -52.60M | -31.80M | -35.90M | -20.90M | -16.90M |
| Other Cash Details | ||||||||||||||||||||||||||||||
| End Cash Position | 1.61M | 1.52M | 1.45M | 6.04M | 119.42M | 4.06M | 1.71M | 2.47M | 37.55M | 4.93M | 2.15M | 2.97M | 4.51M | 7.44M | 943,000 | 36.19M | 42.63M | 5.14M | 4.99M | 25.01M | 5.04M | 1.84M | 1.28M | 4.04M | 1.90M | 2.12M | 2.50M | 5.50M | 10.80M | 1.10M |
| Income Tax Paid | 21.31M | 4.28M | 4.25M | 6.38M | 7.59M | 12.65M | 5.58M | — | -3.52M | 28.79M | 22.45M | 12.04M | 10.05M | 5.17M | 24.18M | 34.30M | 28.76M | 52.55M | 38.10M | 47.81M | 39.28M | 12.37M | 31.41M | 10.03M | 16.00M | 36.88M | 10.66M | — | — | — |
| Interest Paid | 120.24M | 108.19M | 84.38M | 78.65M | 66.15M | 50.37M | 44.82M | 44.36M | 32.00M | 24.21M | 22.46M | 20.41M | 16.67M | 17.32M | 14.67M | 18.87M | 25.88M | 26.40M | 22.19M | 18.09M | 12.35M | 12.19M | 14.52M | 19.03M | 17.61M | 18.98M | 18.29M | — | — | — |
| Free Cash Flow | -143.91M | -61.93M | -274.95M | -233.66M | -256.69M | -331.80M | 20.34M | -77.60M | -211.57M | 71.07M | 70.04M | -82.21M | -155.10M | 76.12M | 42.95M | 191.75M | 58.92M | 58.88M | -81.79M | 150.42M | -127.66M | 38.87M | 6.53M | -81.90M | 75.30M | 68.36M | -23.40M | 20.20M | 1.70M | 24.50M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| iShares Core S&P Midcap ETF | Nov 30, 2024 | 3,184,937 | 148.16M | 3.19% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 3,118,816 | 145.09M | 3.13% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 2,775,744 | 129.13M | 2.78% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 2,481,714 | 115.45M | 2.49% |
| iShares Select Dividend ETF | Nov 30, 2024 | 2,133,228 | 99.24M | 2.14% |
| Vanguard Small Cap Value Index Fund | Sep 30, 2024 | 1,680,478 | 78.18M | 1.68% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 1,461,100 | 67.97M | 1.46% |
| SPDR (R) Ser Tr- SPDR (R) S&P (R) Dividend ETF | Nov 30, 2024 | 1,218,631 | 56.69M | 1.22% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 1,004,650 | 46.74M | 1.01% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 965,014 | 44.89M | 0.97% |
Article
New Jersey Resources Corporation (NJR) Q1 2025 Earnings Call Transcript
New Jersey Resources Corporation (NYSE:NJR ) Q1 2025 Earnings Conference Call February 4, 2025 10:00 AM ET Company Participants Adam Prior – Director-Investor Relations Steve Westhoven – President and Chief Executive Officer Roberto Bel – Senior Vice President and Chief Financial Officer Pat Migliaccio – Senior Vice President and Chief Operating Officer-New Jersey Natural Gas Conference Call Participants Shar Pourreza – Guggenheim Securities Richard Sunderland – JPMorgan Gabe Moreen – Mizuho Travis Miller – Morningstar Operator Thank you for standing by. My name is Prilla, and I will be your conference operator today.
Feb 4, 2025
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New Jersey Resources (NJR) Beats Q1 Earnings and Revenue Estimates
New Jersey Resources (NJR) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $0.74 per share a year ago.
Feb 4, 2025
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New Jersey Resources Reports Fiscal 2025 First-Quarter Results
WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources Corporation (NYSE: NJR) today reported financial and operating results for its fiscal 2025 first quarter ended December 31, 2024. Regulatory and Operating Highlights During the first quarter of fiscal 2025, New Jersey Natural Gas (NJNG) received approval from the New Jersey Board of Public Utilities (BPU) on the settlement of its base rate case, authorizing a $157.0 million annual increase to its base rates, with rates effective on November 21,.
Feb 3, 2025
