NJR earnings analysis
What we found in NJR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
NJR posted fiscal Q3 revenue of $349.180 million, up 16.8% year over year but 1.6% below consensus, while reported EPS of $0.11 exceeded the $0.06 estimate. GAAP profitability improved materially, with net income of $9.689 million versus a $15.051 million loss a year earlier. The 10-Q did not provide sufficient extracted detail to quantify segment performance, balance-sheet movements, margins, or cash flow; management reported no material risk-factor changes.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue grew 16.8% year over year
- Fiscal Q3 revenue was $349.180 million, up $50.180 million, or 16.8%, from $299 million in fiscal Q3 2025.
- Returned to quarterly profitability
- GAAP diluted EPS improved to $0.10 from a $0.15 loss in the prior-year quarter, while net income was $9.689 million versus a $15.051 million loss.
- EPS exceeded consensus
- Reported EPS of $0.11 exceeded the $0.06 consensus estimate by $0.05, or 83.3%.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Revenue fell short of consensus
- Revenue of $349.180 million was $5.620 million, or 1.6%, below the $354.800 million consensus estimate despite year-over-year growth.
- Guidance high end was modestly reduced
- Fiscal 2026 NFEPS guidance was narrowed to $3.52-$3.62 from $3.48-$3.63; the high end decreased by $0.01.
- Inflation remains a disclosed operating risk
- The company stated there were no material changes to risk factors from its 2025 Form 10-K, but it cites inflation sensitivity given its capital-intensive operations; approximately 1.7 million shares remained under its repurchase authorization at June 30, 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.1
What they said about what is next.
Fiscal 2026 non-GAAP NFEPS outlook was tightened to $3.52-$3.62, versus the prior $3.48-$3.63 range. The filing does not provide quantitative revenue guidance; the company retains its 7%-9% long-term NFEPS growth target from the fiscal-2025 base of $2.83.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 5, 2026
- New Jersey Resources (NJR) reported strong fiscal Q2 2026 results, with revenue reaching $939.4 million, beating both estimates and the prior year by 3.3% and 29% respectively. EPS also surpassed expectations at $2.20,…
- 10-Q · August 5, 2025
- Q3 (three months ended June 30, 2025) revenue rose to $298.95M vs $275.64M in Q3 2024, driven by higher utility sales, but the quarter produced an operating loss of $1.062M and a net loss of $15.051M (diluted loss…
- 10-Q · May 7, 2024
- NJR reported quarterly operating revenues of $657,913,000 and diluted EPS of $1.22 for the three months ended March 31, 2024. Utility revenues increased while nonutility revenues declined year-over-year; operating…
- 10-Q · May 4, 2023
- Revenue for the quarter ended March 31, 2023 was $644,027,000, down $268,289,000 (−29.4%) versus the prior-year quarter, but operating income improved to $165,184,000 (operating margin 25.66%) and diluted EPS rose to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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