New Jersey Resources Q4 Profit Beats View; Annual Earnings Guidance In Line With Consensus- Update
New Jersey Resources Corp. (NJR) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company’s earnings came in at $37.024 million, or $0.38 per share. This compares with $54.522 million, or $0.56 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 56.7% to $331.325 million from $765.486 million last year.
For the full-year 2024, New Jersey Resources expects net financial earnings per share or NFEPS of $2.70 to $2.85.
On average, seven analysts polled by Thomson Reuters expect the company to earn $2.78 per share, for the year. Analysts’ estimates typically exclude special items.
For the full year 2023, energy firm has reported net financial earnings of $261.827 million or $2.70 per basic share, higher than $240.321 million or $2.50 per basic share, recorded for the same period last year. For the fourth-quarter of 2023, NJR registered net financial earnings of $29.563million or $0.30 per basic share, compared with $47.896 million or $0.50 per basic share a year ago.
The company added that it maintains its long-term projected NFEPS growth of 7 percent to 9 percent.
New Jersey Resources Corp. Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $37.024 Mln. vs. $54.522 Mln. last year.
-EPS (Q4): $0.38 vs. $0.56 last year.
-Analyst Estimates: $0.32
-Revenue (Q4): $331.325 Mln vs. $765.486 Mln last year.
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