New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-3.00 vs $2.93 Est
Portfolio Pulse from Benzinga Newsdesk
New Jersey Resources (NJR) has reaffirmed its fiscal 2024 adjusted EPS guidance range of $2.85 to $3.00, reflecting a $0.15 increase made in February 2024. The company expects a significant contribution to its Net Financial Earnings Per Share (NFEPS) from Energy Services, due to Asset Management Agreements signed in 2020. The expected contributions from its business segments include New Jersey Natural Gas (40-45%), Clean Energy Ventures (12-17%), Storage and Transportation (3-7%), Energy Services (38-43%), and Home Services and Other (0-1%).
May 07, 2024 | 12:38 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
New Jersey Resources reaffirmed its fiscal 2024 adjusted EPS guidance of $2.85 to $3.00, indicating a positive outlook based on contributions from Energy Services.
Reaffirming the EPS guidance, especially after a mid-year increase, suggests NJR is on track to meet or exceed its financial targets. The significant role of Energy Services in NJR's earnings mix indicates a strategic shift that could positively influence investor sentiment and stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100