New Jersey Resources Corp Q1 2026 Net Income Drops

By Chris Stiles • Tuesday, February 03 15:30 • Permanent Link

New Jersey Resources Corporation (NYSE: NJR) has reported its financial and operating results for the first quarter of fiscal 2026, which ended on December 31, 2025. The company's consolidated net income for the first quarter of fiscal 2026 was $122.5 million, or $1.22 per share, compared with $131.3 million, or $1.32 per share, in the first quarter of fiscal 2025.

In terms of consolidated net financial earnings (NFE), a non-GAAP financial measure, the company reported $118.2 million, or $1.17 per share, for the first quarter of fiscal 2026, compared with $128.9 million, or $1.29 per share, in the first quarter of fiscal 2025. The decrease was primarily due to a gain on the sale of Clean Energy Ventures' (CEV) residential solar portfolio assets that was recognized in the prior-year period, partially offset by higher year-over-year NFE from New Jersey Natural Gas (NJNG), Storage and Transportation (S&T), and Energy Services (ES).

New Jersey Resources Corporation has increased its fiscal 2026 net financial earnings per share (NFEPS) guidance to a range of $3.28 to $3.43, up from $3.03 to $3.18, marking a $0.25 increase. This adjustment is a result of the strong performance of energy services in January 2026. The company also maintains its 7 to 9 percent long-term net financial earnings per share (NFEP) growth target, starting from a fiscal 2025 base of $2.83 per share.

Steve Westhoven, President and CEO of New Jersey Resources, noted that the company is off to a strong start in fiscal 2026, with the performance in the beginning of the fiscal second quarter exceeding original projections. Energy services benefited from natural gas price volatility, leading to the decision to raise the fiscal 2026 NFEPS guidance range by $0.25 to $3.28 to $3.43. This represents the sixth consecutive year in which NJR has raised its guidance as a result of the benefits of its diversified energy platform.

Westhoven emphasized the company's focus on delivering reliable, affordable energy to its New Jersey Natural Gas customers, pursuing growth opportunities across its storage and transportation business, and expanding capacity at Clean Energy Ventures. NJR remains committed to disciplined execution and creating long-term value for its shareholders. Today the company's shares have moved 1.18% to a price of $48.11. If you want to know more, read the company's complete 8-K report here.

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