New Jersey Resources Q1 net income falls

New Jersey Resources

02/02/2026 21:42

Overview

Natural gas provider's fiscal Q1 net income decreased yr/yr

Company raised fiscal 2026 net financial earnings per share guidance

Q1 net financial earnings decreased due to prior-year solar asset sale gain

Energy Services segment benefits from natural gas price volatility

Outlook

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

Company maintains 7-9% long-term NFEPS growth target from fiscal 2025 base

Result Drivers

NATURAL GAS PRICE VOLATILITY - Energy Services benefited from increased natural gas price volatility, enhancing financial margins

BASE RATE CASE SETTLEMENT - NJNG's NFE improved due to the full impact of a base rate case settlement on utility gross margin

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Basic EPS
$1.22
Q1 Net Income
$122.5 mln


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 $53.50, about 8.1% above its January 30 closing price of $49.48

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nBw2HHR28a

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(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.)