New Jersey Resources Q1 EPS $0.74 Misses $0.75 Estimate, Sales $467.21M Down From $723.57M YoY
Portfolio Pulse from Benzinga Newsdesk
New Jersey Resources (NJR) reported Q1 earnings of $0.74 per share, missing the consensus estimate of $0.75. Sales were $467.21M, down 35.43% YoY from $723.57M. This marks a significant decrease in both earnings and sales compared to the same period last year.
February 06, 2024 | 12:10 pm
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NEGATIVE IMPACT
NJR missed Q1 earnings estimates and reported a significant year-over-year decline in sales.
Missing earnings estimates and reporting a significant decrease in sales year-over-year are both negative indicators for a company's financial health and often lead to a negative short-term impact on the stock price. Investors may react negatively to the news of not meeting expectations and a substantial decline in sales, potentially leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100