New Jersey Resources Corporation (NJR) Earnings
New Jersey Resources Corporation is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.06. NJR has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +14.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.89 | $2.20 | +16.4% | $939M | +10.5% |
| Feb 2, 2026 | $0.95 | $1.17 | +23.2% | $606M | -28.0% |
| Nov 19, 2025 | $0.15 | $0.16 | +6.1% | $341M | +14.0% |
| Feb 3, 2025 | $1.14 | $1.29 | +13.2% | $488M | -29.8% |
| Nov 25, 2024 | $0.88 | $0.89 | +1.1% | $1.8B | +341.4% |
| Feb 6, 2024 | $0.75 | $0.74 | -1.3% | $467M | -29.4% |
| Nov 21, 2023 | $0.30 | $0.30 | +0.0% | $331M | -56.4% |
| Aug 3, 2023 | $0.02 | $0.10 | +350.0% | $264M | -61.8% |
| May 4, 2023 | $1.21 | $1.16 | -4.1% | $644M | -35.4% |
| Feb 2, 2023 | $0.72 | $1.14 | +58.3% | $724M | +3.8% |
| Nov 17, 2022 | $0.43 | $0.50 | +16.3% | $765M | +78.5% |
| Aug 4, 2022 | $0.08 | $-0.04 | -150.0% | $552M | +31.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- NJR reported excellent second quarter results during a demanding winter period, with New Jersey Natural Gas ensuring safe and reliable service and generating customer savings. - Storage and Transportation business has growth driven by re-contracting and Leaf River's expansion progress. - Clean Energy Ventures has continued capacity growth and a strong project pipeline. - Deployed approximately $400 million of capital year-to-date, with New Jersey Natural Gas accounting for two-thirds, and no change to 2026 and 2027 fiscal year capital estimates, reaffirming 5-year capital outlook of $4.8 to $5.2 billion through 2030. - Balance sheet is strong with improved adjusted FFO to adjusted debt ratio expectations and no immediate need for equity financing.
Guidance
- Raised 2026 fiscal year NFEPS guidance range to $3.48 to $3.63 per share, an additional 20 cents increase from prior guidance. - Energy services' outperformance has increased its percentage contribution to NFEPS, with New Jersey Natural Gas projected to represent approximately 60% of the company's 2026 fiscal year NFEPS.
Segment performance
New Jersey Natural Gas had the highest send-out days in its history during the winter, hedged over 87% of gas supply requirements, generated over $93 million in gross customer savings under the Basic Gas Supply Service Incentive Program, and is projected to represent approximately 60% of the company's 2026 fiscal year NFEPS. Storage and Transportation business has strong re-contracting activity at Adelphia and Leaf River, providing predictable earnings, and Leaf River's expansion plan is progressing with FERC environmental assessment received. Clean Energy Ventures increased installed capacity by almost 25% in 2025 fiscal year, expects to increase by an additional 50% by end of 2027 fiscal year, with a project pipeline over 1.2 gigawatts.
Risks & headwinds
- Current expectations, assumptions, and beliefs forming forward-looking statements include factors beyond control or precise estimation, which could cause results to materially differ from expectations. - Non-GAAP financial measures are not substitutes for GAAP, but no specific operational failure risks detailed in the provided transcript.
Analyst Q&A
Q: Hey, everybody. It's Dylan Lippert on for Gabe. Hey, Dylan. Good quarter. Just want to kind of hit back on CEV. provides more color in what you're seeing in terms of solar project opportunities and outreach from PJM and the state, particularly as New Jersey looks to the pre-generation gap?
A: Yeah, you know, really it's been playing out just like we said all along. You know, we save harbor in a number of projects. We've got a 1.2 gigawatt, you know, number of projects available to us. And the state has been, you know, certainly and PJM, the quickest way to bring, you know, new capacity to market is through solar. So, yeah, we're continuing to make investments, and we've got a number of really attractive choices in that space, and we're continuing to develop solar. So, you know, all things to go, and certainly playing out just like we've said over the past few calls.
Q: Good morning, everyone. Thank you. Hey guys, I wonder if you could go into a little more on Energy services, what's happening fundamentally since February that's changed both your outlook and what you're actually realizing in that business? Are you just referring to the raising guidance?
A: Yeah, I, you know, really, when we, you know, raise guidance back in February, that was, you know, previous period. So, you know, much of the winter hadn't transpired to that point. And, uh, you know, through February and March, you know, that book, uh, continued to increase in value and add value and, uh, you know, conclusion to where we're able to. guidance raised that you see here is reflective of that. Energy services continues to be a business that performs, you know, does good things for us long-term, you know, lowers our debt and equity needs by the cash that they're able to bring in and, you know, all at, you know, a low-risk profile. So, you know, we hope it continues going forward. But really, the whole reason for the, you know, raised before and now are raised now was really just timing and having them let her conclude.