New Jersey Resources Q2 net income rises, lifts 2026 earnings outlook

New Jersey Resources

04/05/2026 21:39

Overview

US energy infrastructure firm's fiscal Q2 net income and net financial earnings rose yr/yr

Company raised fiscal 2026 net financial earnings per share guidance due to Energy Services outperformance

Q2 results driven by customer growth, higher incentives, and natural gas price volatility

Outlook

New Jersey Resources raises fiscal 2026 NFEPS guidance to $3.48-$3.63 from $3.28-$3.43

Company maintains 7-9% long-term NFEPS growth target, starting from fiscal 2025 base of $2.83

Result Drivers

CUSTOMER GROWTH AND INCENTIVES - New Jersey Natural Gas benefited from customer growth and higher Basic Gas Supply Service (BGSS) incentives

NATURAL GAS PRICE VOLATILITY - Energy Services segment earnings rose due to higher natural gas price volatility, allowing it to capture additional financial margin

RATE CASE SETTLEMENT - Storage and Transportation earnings increased mainly due to higher operating income at Adelphia Gateway following a Section 4 rate case settlement

Company press release: ID:nBw1nx9XNa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$2.17
Q2 Net Income
$218.90 mln
Q2 Basic EPS
$2.20


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the natural gas utilities peer group is "buy"

Wall Street's median 12-month price target for New Jersey Resources Corp is $60.50, about 8% above its May 1 closing price of $56.00

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)