New Jersey Resources Q2 2024 Adj EPS $1.41 Beats $1.33 Estimate, Sales $657.913M Miss $670.000M Estimate
Portfolio Pulse from Benzinga Newsdesk
New Jersey Resources (NJR) reported Q2 2024 adjusted EPS of $1.41, surpassing the $1.33 estimate, marking a 21.55% increase from the previous year. However, their sales of $657.913M fell short of the $670M estimate, a slight 1.80% miss, but still a 2.16% increase from last year.
May 07, 2024 | 12:36 pm
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NJR's Q2 2024 earnings beat estimates with an adjusted EPS of $1.41, a 21.55% YOY increase, but sales missed estimates by 1.80%, totaling $657.913M.
The positive earnings surprise, with a 21.55% year-over-year increase, is likely to be viewed favorably by investors, potentially leading to a short-term uptick in NJR's stock price. However, the slight miss in sales forecasts could temper some of the positive momentum, making the overall impact on the stock price positive but with caution due to the sales miss.
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